Arizona republican., 1901-06-08
subjected Is the sum of six hundred and fifty thousand dollars ($65o,OoC).
 Article G.

II
 | subjected is the sum of six hundred | and fifty thousand dollars (s65O,OOG) | Article 6.
 The stockholders of this corporation and their private property shall be ex- empt from the corporate debts of the corporation.
 | Article :.
 | The affairs of this corporation shall be conducted by d board of directors | consisting of five stockholders, who shall be elected annually by the stock holders on the second Monday in Jan uary of each year. Said directors shall hold their offices for the term of one i year from the date of election and until their successors shall be duly elected and qualified unless they shall in the meantime cease to be stockholders in this corporation, and any person ceas- | ing to be a stockholder in this corpo- ration shall cease to be q director or officer in the same. The following named persons, who are subscribers to the capital stock of this corporation. | shall constitute the officers and direct ors of this corporation until the second Monday in January. 1903. and until their successors shall have been duly | elected or appointed and qualified, viz: | C. Y. Ainsworth, president and drec- tor; John $. Stevens. vice president and | director; w. C. Foster. secretary and director; S. M McCcwan, treasurer and director and J. w. Gift. director. Va cancies in the board of directors shall | l,r h., int, ha, z the board for the unexpired term for which such persons were elected. A majority of the board of directors of this corporation shall be quorum. and any meeting of the board at which a quorum Is present shall be deemed a regular meeting and have the same authority as d full board, whether mo- tice of the meeting shall have been first given to the absent members of the board or not
 Article s.
 The officers of this corporation shall be president, vice. president secre- tary and treasurer who shall be elected annually by the board of directors at their first annual meeting in each year, from among their numbers. The presi- | dent .hall be the chief executive officer of the corporation. and shall have the | general management. of all its affairs. subject to the approval Of the board of directors. All certificates of stock. con- tracts. water rights. deeds and con- veyances shall be signed in the corpo- rate name by the president, or in his absence by the vice. president. and be counterslgned by the secretary, and have affixed thereto the corporate seal. The board of directors shall have power to appoint such agents to aid in the management of its business and in con. ducting the affair. of the corporation as they may deem advisable. and to vest in said agents such powers as they deem expedient.
 Article g.
 The board of directors of this cOrpo- ration shall have power to establish by laws and make all rules. and regula Q tions deemed expedient for the man. agement of the affairs of this corpo- ration and the officers thereof not in- consistent with the Constitution and laws of the United States and the laws of Arizona.
 | AIllClt l0.
 These articles of incorporation may be amended at any regular meeting of the stockholders or at any specia meeting called for that purpose, by a majority vote of the stock represented at such meeting: and when such ar. ticles are 50 amended such amendment or amendments shall be acknowledged and signed by the president and at tested by the secretary and have there to affixed the corporate seal, and shall have the same effected as though signed and acknowledged by all tho stockholders of the corporation IN WITNESS WHEREOF we have hereunto set our hands this 18th day ol April, 1901.
 c. F. AINSWORTH.