Arizona republican., 1902-04-11

case exceed the sum of Sixty thousand dollars (s60,0G0).
 Section 2. This corporation may bor- row money and contract to repay the same at such times and at such rates of interest as it's Board of Directors may determine. and may mortgage, pledge or hypothecate all or any part of its property to secure payment of it's debts or loans. and on such terms as its Board of Directors may deter mine.
 ARTICLE VI.
 Section l. The stockholders of this and their private property shall be forever exempt from all cor porate debts of this corporation.
 ARTICLE VII.
 Section l. The affairs of this corpo- ration shall be managed and controlled by a Board of Directors composed of three stockholders hereof who shall be elected annually by the stockholders on the second Monday of January of each year at the hour of o'clock D. m. at the office of the Company in Phoenix, Arizona.
 Section ?. The Directors shall hold office for one year and until their sue
 
 Section 3. Directors ceasing to be stockholders shall cease to be direct ors or officers of this corporation.
 Section 4. Vacancies in the Board of Directors or officers of this corporation shall be filled for the unexpired term by the remaining members of tire Board of Directors.
 Section D. The Board of Director. +- d alter bylaws for this corporation. and to make all needful rules and regulo- tions for the management of it's affairs.
 ARTICLE VIII.
 Section l. The officers of this corpo . ration shall be a President. Vice Presi- dent, Secretary and Treasurer. who shall be elected annually by the Board of Directors at the first meeting after the annual meeting of the stockholders. The Vice President and Secretary. or Secretary and Treasurer. or the Presi- dent and Treasurer may be one and the same person. The President shall be the chief executive officer of the corpo- ration, and shall have the general management of all it's affairs, subject to the approval of the Board of Direct ors. And until the annual meeting of January, 1903. the following named per sons shall be the Directors of this cor poration, viz: James K. Thorpe, Thomas Armstrong, Jr., and James H. Pershing; and the following shall be the officers of said corporation, viz: James R. Thorpe. President. and Thomas Armstrong, Jr., Vice Presi- dent.
 Section ?. All certificates Of stock. bonds, water rights. deeds and convey ances shall be signed in the corporate name by the President. or in his ab- sence, by the Vice President. and be countersigned by the Secretary, and have affixed thereto the corporate seal
 Section g. The Board ct Directors shall have power and authority to ap- point any other agent or agents to aid in the management of its business, and | in conducting the affairs of said cor poration that they may deem advis- able, and may vest in such agent or agents such powers as they may deem eXpedient. And said Beard of Direct DTS shall have the power and author ity to fix the compensation to be paii to the officers. agents and employees and directors of this corporation. ARTICLE TX.
 Section l. Stockholders shall have the right to cast one vote for eact share of stock owned, at all stockhold- CTS meetings, either in person or by proxy in writing thereto duly author ized.
 In witness whereof We have hereuntC set our hands this 21st day of March ' A. D. 1902.
 JAMES R. THORPE.
 THOS. ARMSTRONG. Jr. l Territory of Arizona,
 County of Maricopa, ss.
 Before me, Thos. J. Prescott, a No tary Public in and for the County O Maricopa, Territory of Arizona, on thi day personally appeared James R l Thorpe and Thomas Armstrong, Jr. known to me to be the persons who's names are subscribed to the foregoin. instrument, and acknowledged to m that they executed the same for tn purposes and consideration therein ex pressed.
 Given under my hand and seal of of fee this 21st day of March, A. D. 190:
 (Notarial Seell
 THOS. J. PRESCOTT.
 Notary Public
 My commission expires on the st day of Dec. 1904.
 First Dr1hI:ca +iOr, 4 DriI 0