Arizona republican., 1902-05-06

Section .. The capital stock of this
corporation shall be fully paid in cash
or its equivalent in property. labor OF
services when subscribed and no stock
shall be issued until fully paid for.
Section 3. Assessments upon the
capital stock of the corporation may be
made by resolution of the stockholders
for the purpose of paying debts or eX-
tending the business Of the corpora
ton; and payments thereon enforced
by sale of the stock under bylaws md
rules to be adopted by the corporation
or Board of Directors, provided. how
ever, that the aggregate of all assess
ments shall not exceed fifty (5O) per
cent of the par value Ct the stock, and
private property of stockholders shall
not be liable for such assessments but
by sale and forfeiture of the stock only.
Article ".
Section !. The general nature OF the
business to De transacted by this cor
poratfon is that of forndry-men and
machinists: the manufacture, purchase
and sale of engines, boilers and ma
chinery and castings of all kinds. in
Guiding the erection and equipment Of
mills, manufactures and mining plants
and the buying. holding. owning, leas-
ing, selling and dealing in all kinds Of
property both real and personal, the
making of contracts, acquiring and
transferring property and possessing
the same powers in such respects as
private individuals now enjoy.
Article V.
Section l. The highest amount OF in
10 hiIitx- dirart M. pnD-
tingent to which this corporation shall
at any time subject itself shall in no
case exceed Ten thousand Dollars
C$1O,0OO).
Section . This corporation may Dor
row money and contract to repay the
same at such times and at such rates
of interest as its Board of Directors
may determine. and may lease. mort
gage, pledge or hypothecate all or any
part of its property to secure pay
ment of its debts or loans and on such
terms as its Board of Directors may
determine.
Article VI.
Section 1. The stockholders of this
corporation 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 (3) stockholders hereof who shall
be elected annually by the stockhoId-
ers on the second Monday of January
of each year at the hour of . o'clock p.
NJ. at the Office o. the company in
Phoenix, Arizona.
Section >. The Directors shall hold
Office for one year and until their sue
cessors are elected and qualified.
Section 8. Directors ceasing to be
shall cease to be Directors
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 the
Board of Directors.
Article VIII.
Section l. The officers of this corpo-
ra ton shall be a President. Vice Pres
ident. 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 President and Treasure" may
be one and the same person. The
President shall be the chief executive
officer of the corporation, and shall
have the general management of al
its affairs. subject to the approval of
the Board OF Directors. And until the
annual meeting Of January. 1908, the
following named persons shall be the
of this corporation. viz:
Moses Hughes, William Griffith and
LaveTie c. Hughes.
Section >. All certificates of stock,
bonds, deeds and conveyances shall be
signed in the corporate name by the
President or in his absence, by the Vice
President. and be countersigred by the
Secretary, and have affixed thereto the
seal
Section 8. The Board of Directors
shall have the power and authority 20
appoint any agent or agents to aid in
the management of its business, and in
the affairs of said corpora
ton that they may deem advisable. and
may vest in such agent or agents such
powers as they may deem expedient.
And said Board OF Directors shall have
power ana authority to fix the COM
pensation to be paid to the officers.
agents and employees and Directors of
this corporation.
Article TX
Section !. Stockholders shall have
the right to cast one vote for each
share of stock owned. at all stock
holders meetings either in person or
by proxy in writing thereto duly au-
thorized
IL WITNESS WHEREOF We have
hereUntO set our hands this Goth day
Of April. 1902
MOSES HUGHES.
WILLIAM GRIFFITH.
LAVERCIE c. HUGHES.
WALTER L. SUTTON.
Territory of Arizona,