Arizona republican., 1900-11-29

notes. bonds, and all kinds of securi- ties or property as shall seem fit or cxpedient to it's Board of Directors to ease. loan and negotiate rooms. | houses. apartments and grounds. either for the use of the members of this cor poratio or for the purpose of profit or amusement. to acquire and own a li- brary. art galleries. statuaries. and all goods. wares and merchandise, appli- ance~ ~" "-r'''--re. either for the phys '--' .. ri ntal improvement and edu- d :on of the ste kholders of this cor poration or for t.'> pecuniary profit of this corporation itself. to promote so ciabflity among its stockholders. to give entertainments and tournaments. and generally to act and engage in such lawful occupations and diversions not in conflict with these articles or the bylaws to be hereafter adopted. to borrow money and contract to pay the same al such times and in such man ner and at such rates of interest as shall be determined by the Board of Directors. to hypothecate. mortgage or pledge all. or any part of the property of this corporation now owned or which may hereafter be acquired. to secure the payment of any debts which this corporation may become legally obliged to pay.
 The amount of the capital stock of this corporation shall be Fifteen Thou sand Dollars, divided Into Six Hundred shares of the par value of Twenty-Five Dollars each. and the times when and the conditions upon which it Is to be paid in shall be as follows:
 The whole or any part of said stock shall be issued immediately upon mak- ing a subscription therefor. but said stock shall be fully paid before being issued. and not more than one share of said stock shall be issued to any one person. No share of stock shall be as sessab,e. except by two-third votes of the members of the Board of Directors. and then not exceeding the sum of Twelve Dollars per share in any one year. except by a vote of two-thirds of the stockholders present at d meeting called for that purpose.
 The amount of he par value of each share of the capital stock of this cor pora tion shall be Twenty-Five Dollars.
 The highest amount of indebtedness direct or contingent. to which this cor poration shall subject itself. is the sum of Ten Thousand (S1O OOO.OO) Dollars
 The stockholders of this corporation and their private property shall be ex- empt from all liability for the corpor- ate debts of this corporation. 1 6.
 All the business affairs of this cor poration shall be conducted by board of Twelve directors. who shall be elect ed annually from the stockholders at such times and in such manner as shall be prescribed by the bylaws of this corporation.
 The following named persons who are subscribers to the capital stock of this corporation shall constitute the Board of Directors until the Third Saturday of October. 1901. and until their sue cessOrs duly qualified are elected. viz: L. Fl. Chalmers. Mrs Harry J. Jones, Mrs. Webster Street. Mrs. J. C. Adams. Mrs. B. Heyman. Hugh M. Creighton, Charles c. Randolph. R. Aglyn Lewis. F.. w Lewis. Dwight B. Heard. C. J. Hall and Mrs. N. O. Murphy.
 Any person teasing to be a stock holder ceases to be director. and whenever any stockholder ceases to be a member of the corporation for any reason provided in the bylaws. his stock may be cancelled by the Board of Directors.
 1 Vacancies in the Board of Directors shall be filled by the remaining mem bers of the Board. Immediately, or as soon as practicable, upon the filing of these articles in the office of the Coun- | ty Recorder of Maricopa County. the persons above named as directors. shall meet and organize as the Board of Directors. elect officers. adop; bylaws and prescribe in said bylaws the method of calling meetings of the Board of Directors.
 | 10.
 Seven of said directors shall consti- tute a quorum. and any meeting of the board at which a quorum is present shall be a regular meeting. and have the same authority as full board. eX- cept as herein otherwise provided.
 Il.
 Said Board of Directors shall have the power to adopt bylaws and make all rules and regulations deemed eXpe- dient for the management of this cor poration, to employ and discharge all persons whenever necessary, to enter into contracts for this corporation, and generally to prescribe restrictions for the issuance and forfeiture of stock, and 10 do all things for the welfare and interest of this corporation as to them shall seem fit and eXpedient not incon- sistent with the laws of the United States or the laws of the Territory of Arizona.
 IN WITNESS WHEREOF. we have caused these presents to be executed this 25th day of October. 1900.
 l.. H. CHALMERS.
 MRS. HARRY J. JONES.
 MRS. WEBSTER STREET
 MRS ]. C. ADAMS.
 MRS N. O. MURPHY.
 MRS HERMAN HEY MAN.
 HUGH NJ CREIGHTON. | CHARLES C. RANDOLPH.