Arizona republican., 1902-01-23

time to time deem advisable, and no
 stock shall be issued until the same shall have been fully paid either in
 money or in property, and the same
 when so issued shall be non-assessable thereafter.
 l ARTICLE V.
 1 The highest amount of indebtedness
 or liability to which this corporation
 shall at any time subject itself or be
 subjected is the sum of thirty-five
 thousand dollars ($35. .OOOOO). ARTICLE VI.
 The stock holders of this corporation and their private property shall be eX- empt from the corporate debts of the corporation.
 ARTICLE VII.
 l The affairs of this corporation shall 1 be conducted by a Board of Directors consisting of rot less than three nor more than seven stockholders, who shall be elected annually by the stock
 holders. on the 2d Monday in October of each year. Said Directors shall hold their office for the term of one year from the date of their election and un- til 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 stcckholder in this corpora ton shall cease to be a Director or of ficer in the same. The following named persons who are subscribers to the cap ital stock of this corporation shall constitute the officers and directors of
 this corpora tion until the I'd Monday in October. 1902. and until their success sors shall have been duly elected or appointed, and qualified:
 Elijah Coffin. President and Director Vim. Christy. Vice President, Treas urer and Director; William F.. Pomc- roy. Secretary and Director.
 Vacancies in the Board of Directors shall be filled by the remaining mem bers of the Board for the unexpired term for which such persons were
 elected. A majority of the Board of Directors of this corporate shall be a 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 q full Board, whether notice of the meeting shall have first been given to the absent members of the Board or not. ARTICLE VIII. The officers of this corporation shall
 be a president, vice president, secre- tary and treasurer. who shall be elect ed annually by the Board of Directors
 at their first annual meeting in each year, from among their number. The secretary and treasurer or Vice-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 man agement of all it's affairs. subject to the approval of the Board of Directors. All certificates of stock, contracts, water rights. deeds, and coaveyances shall be signed in the corporate name
 Y lA the Vice President. and be counter signed by the Secretary, and have af- fixed thereto inc corporate seal The Board or Directors shall have power to appoint such agents to aid in the management of it's business and in conducting the affairs of the corpora
 ton, as it may deem advisable. and to
 vest in said agents such powers as they deem expedient
 ARTICLE TX.
 The Board of Directors of this cor poration shall have power to establish bylaws and make all rules and regu- Iations deemed expedient for the man agement of the affairs of this corpora ton and the officers thereof, not in consistent with the Constitution and Laws of the United States or the Laws of Arizona.
 ARTICLE N.
 These Articles O: incorpora ton may be amended at any regular meeting Of the stockholders. or at any special meeting called for that purpose by a majority vote of the stock represented at such meeting; and when such ar ticles are SO amended. such amend mert CT amendments shall be acknowl- edged and signed by the President and attested by tEe Secretary. and have thereto affixed the corporate seal, and shall have the same effect as though signed and acknowledged by all the stockholders of the corporation.
 In Witness Whereof. We have here
 unto set our hands this 2Tth day of November, 1901.
 ELIJAH COFFIN. WM. CHRISTY. WILLIAM r.. POMEROY. Territory Of Arizona, County of Mari