Arizona republican., 1901-03-20


 other corporations or interests therein, to purchase, own, hold and sell securi- ties, bonds and stocks of every de- scription.
 To borrow money and pay interest on the same and give security therefor to issue bonds, and secure the same by mortgage on the franchise, works. property, income and revenues of the corporation. or property belonging 10 this corporation.
 To engage in the genera! transmits sion distribution and disposal of cleo trlcity. To utilize water and electric ity in the creation and production of mechanical power and light and to transmit. sell. and dispose of the same.
 To buy, sell own, hold, such personal and real property as may be necessary for the purposes of this corporation. and generally to do and perform all other things necessary or proper, and incidental to any of the purposes above set forth.
 V. The amount of the capital stock of this corporation shall be Six Hun dred Thousand Dollars ($600,000) di- vided into Six Hundred Thousand shares (GOO,OOO) of the par value of One Dollar ($l.00) each. One-half of said capital stock. to-wit: Three Hundred Thousand (300,000) shares. shall be is- sued to the individuals herenabove named as incorporators of this corpo- ration fully paid up as their interests may appear upon the subscription books of this company, in consideration of the payment of money paid in and mining claims and lands conveyed by them to this corporation. The balance of said stock. to-wit: Three Hundred Thousand (3O0,000) shares shall be is sued fully paid up and deposited in the treasury of said corporation, to be sold or otherwise disposed Of for the benefit of the corporation as may be determined by the board of directors Of the corporation. All of the stock of this corporation is to be forever non assessable for any and every purpose.
 VI. The time of the commencement of business of this corporation will be the date of the filing of these articles of incorporation in the office of the re- corder of the County of Maricopa, Ari- zona Territory. and the termination thereof shall be twenty-five t25) years thereafter. unless sooner wound up by the legal form of law In Arizona Ter ritory.
 VII. The affairs of this corporation shall be conducted in accordance with the bylaws established by a board of directors to be elected annually by the stockholders of the company, said an- nual election to be held on the third Tuesday of March of each year. the present board being elected as soon after the adoption of these articles of incorporation as a mass meeting of such stockholders can be convened, the present board serving until the next annual election, or until their success sors are qualified. No person Is eligible to be a director of this corporation who Is not a stockholder thereof. aud any director ceasing to be a stockho'der. the office at once becomes vacant, and may be filled by the board of directors at their next meeting.
 VIII. The highest amount in indebt- edness this corporation may incur for any purpose shall not exceed twenty five thousand dollars.
 TX. The private property of the stockholders of this corporation shall be exempt from and not liable in any case for any of the debts created by this corporation.
 x. The board of directors of this corporation at the time of its organi- zation shall consist of seven members who shall have power to elect prcsi- dent. vice president. and secretary and treasurer from their own number; also to make bylaws. rules and regulations not inconsistent with the laws of the United States or the Territory of Ari- Zona, necessary to carry into execution and manage the affairs of this com pany.
 In witness whereof. we have hereun- to set our hands and affixed our seals this 27th day of February, A. D.. 1901. Mo, .e nf