Arizona republican., 1901-02-14

number of shares into which said cap- ital stock is divided Is Three Hundred Thousand Shares (3C0,000) of the par value oS One Dollar ($1.00) per share the value of which stock Is to be paid in cash CT upon such installments as the directors may provide, 9r in real or personal property. or contracts, or agreements, or in labor, orin machinery o. merchandise oc materials, in trle dis erection of the board of directors ur n the issue and delivery of said stock fror. time to time. Preferred shares of stock may be issued upon such terms and conditions as may be pro- vidcd in the bylaws.
 Fourth: That the time of the com mencement of said corporation shall be from the date or the filing of these articles to, record in the office of the county recorder of Maricopa county, Territory of Arizona, and the time of the termination of said corporation snail be Twenty (25) years there after
 Finlh: That the officers or persons authorized t} conduct, manage and control the business and affairs of the said corporation shall consist ot the stockholders holding two-thlrds (2-9 in amount of the outstanding capital stock f the corporation, and the board of directors composed of such number of members. 10 be chosen by the stock holders as may be pr0Vd d In the by laws of the corporation. The original bylaws shall ba ai .Hted by the vote or signature of the stockholders holding two-thirds (2-3l of the subscribed cap ital stock. Any resolution aicgted by the holders of tWO-thirdS (a-3) in amount of the outstanding stock, wEEther adopted by vote or OH sigma ture of such vo ars without q meeting. shall absolutely control the affairs of r'hc corporation and the tenure of of. fee of its directors and officers. so far as indicated in such resolution. The board 0f directors shall have the man agement and control of the corporation subject to such resolution or votes of the st0ckh lders IS lfGr, said The names f tne persons appointed to serve as directors until their success sors are elected are John F. Cunning ham, Edwari Savage. Mortimer Say age Walter Storey, Samuel E. Cald- well, Edward F. Young and David C.. Cunningham
 The stockholders sal me annu- ally at such time an1 place as may be provided by the bylaws for the pur- ? SC of the election of directors, sub ject to such resolutions or votes of the stockholders as aforesaid.
 The directors shall mea monthly at such time and place as may be prUvid- cd by the bylaws and subject to such resolutions O: vOt f the stockholders as aforesaid, and said directors imme- diatelv after their election snail organ izA by the election fl n among their number of president and vice-rrssidant, and at such meeting they may elect a manag- ing director. The said directors will also elegt a secretary anl such other officers $ they may require, none 1f whom nsed be directors, and may con- fer upon such officers such powers as to said board may deem best.
 Sixth; That the highest amount Of Indebtedness OF liability to which the corporation is ae any time to subject itself is One Hundred Thousand Dol lars ($l0oC00D
 Seventh: That the private property of each and every officer and sock tolder If this corporation is to De ex- empt from all corporation debts and liabilities. and from execution on any and all claims against this corpora ton. and ID claim or demand against the cc~oogat.on sh1ll constitute claim or amand against the stockholders thereof to any eX- ' ont. N ass ssments shall be made upon any stockholder except for calls upon unpaid subscriptions for stock.
 In With ss Whereof. We have here unto set our hands this 7th day of February, 1901.