Arizona republican., 1901-06-03

l and at such rates Of interest as it's board of directors deem proper, and to secure the payment of its obligations with interest thereon.
 i III.
 | The place where this corporation pro- poses to have it's principal office and place of business is in the city of Phoe- nix. county of Maricopa and Territory of Arizona and at such other places in the territory of Arizona as may be designated by resolution of its board of directors.
 The amount of the capital stock of this corporation shall be five hundred thousand ($5O0, 0,0O0) dollars, divided into five hundred thousand (500.O0O shares of the par value of one C$100) dollar each. None of the stock shall be issued by said corporation except on cash payment, or its equivalent, to the amount of at least ten per cent of it's par value.
 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.
 VT.
 The highest amount of indebtedness or liability. direct or contingent, to which this corporation is at any time to be subject is the sum of one hundred thousand dollars.
 The afr airs of this corporation shall be conducted by a beard of five direct ors; the first to consist of w. A. Watts. as president o. F. Plath, as treasurer: w. Fl. Ward, a.. vice. president; J. F. Kelly, as secretary, and Peter Mohn. Each director shall aerve for the period of one year, and until his successor 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 pres cribed by the bylaws of this cor poration. provided that the first cleo tion of directors shall be held on the second Tuesday of June. 1902. and an- nCally thereafter, and the directors shall elect the officers from their num- Der. excepting that the secretary need not be a director. All of said directors 1,lall be stockholders in this corporation and no person shall be eligible to the office of director or be continued in of- fice as director when he is not a stock holder of the corporation.
 TX.
 Said board of directors may, by res olution. prescribe and adopt corpor.. ate seal. appoint ami employ such other officers of the corporation and prescribe compensation therefor in conducting the affairs of said corporation as such board may see fit, and may vest such employees wHh such power as said board may deem expedient.
 x.
 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 as 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 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 al- so be deemed a regular meeting
 XI
 The board of directors shall have the power to establish bylaws and to change the same at any meeting at, tended by a full board, and to make rules and regulations deemed expedienf 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 3lst day of May. A. p. 1901. N.
 w. A. WATTS (SeaD
 o. F.. PLATH. (SeaD
 w. H. WARD. (SeaD
 J. F. KELLY CSeaD
 F. P. PALMER. (SeaD Territory of Arizona, County of Mari
 copa, ss:
 Before me, notary public in and for e. Q tI fxr nt,I