Arizona republican., 1901-06-01

Ave hundred thousand (5OO.OOO) shares of the par value of one (s1.00) dollar each. None of the stock shall be issued by said corporation except on a cash payment, or it's equivalent to the amount of at least ten per cent of it's par value.
 V.
 The stock of this corporation shall be non -assessable and the stockholders of this corporation and their private prop erty. shall be exempt from the corpo. rate debts of this corporation.
 VI.
 The highest amount of indebtedness or liability, direct or contingent, to which this corporation is al any time to be subject is the sum of one hundred thousand dollars.
 VII.
 The afr airs of this corporation shall be conduated by board of five direct- ors; the first to consist of w. A. Watts. as president; o. E. Plath, as treasurer: w. H. Ward, az president J. F. Kelly. as secretary, and Peter Mohn. Each director shall serve for the period
 
 shall. be duly elected and shall have qualified
 The directors of said corporation shall be elected annually by the stock holders in such manner as shall be prescribed by the bylaws of this cor poration, provided that the first elec- ton of directors snail be held on the second Tuesday of June, 1902, and an- nually thereafter and the directors shall elect the officers from their num- Der. excepting that the secretary need not be director. All of said directors shall be stockholders in this corporation and no person shall be eligible to the office of director or be continued in of flee as director when he is not a stock holder of the corporation.
 TX.
 Said board of directors may, by res- olution. prescribe and adopt a corpor. ate seal. appoint ani employ such ether officers of the corporation and prescribe compensation therefor in conducting the affairo of said corporation as such board may see fit, and may vest aIch employees with such power as said board may deem expedlent.
 K
 Vacancies in the board Of directors shall be filled by the remaining mem bers Of the board. or by vote of the stockholders. As soon a. practicable after the filing of these articles in the office of the county recorder of said county. the persons named here in as directors shall meet and organize as a board of directors. and adopt bylaws. A majority of said board of directors shall constitute a quorum for the transaction of busi- ness. and any meeting of said board, although not regularly called, at which all the members are present. shall all so be deemed regular meeting.
 XI.
 The board of directors shall have the power to establish by-laws and to change the same dt any meeting at- tended by a full board. and to make rules and regulations deemed expedient regarding the calling and holding of cor porate meetings and for the manage ment of the affairs of this corporation, not inconsistent with these articles. In witness whereof, we have hereun- to set our hands and seals this 3ist day of May. A. n. 1901.
 w. A. WATTS. (SeaD
 o. E. PLATH. (SeaD
 w. H. WARD. (SeaD
 J. F. KELLY. (SeaD
 F.. P. PALMER. (SeaD Territory of Arizona. County of Mari- copa, ss:
 Before me, a rotary public in and for said county and territory, on this day personally appeared w. A. Watts, w. H. Ward. O. F.. Plath, F.. P. Palmer and J. F. Kelly, known to me to be the per- sons whose names are subscribed to the foregoing instrument. and acknowledg- ed to me that they. and each of them. executed the same for the purpoa,s and consideration therein expressed Given under my hand and seal of of- fec this 31st day of May. 1901.