Arizona republican., 1902-01-21

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.
 ARTICLE "
 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. .COO.00). ARTICLE VI. The stockholders of this corporal on and their private property shall be ex- enpt from the corporate debts of the corporation.
 ARTICLE VII.
 The affairs of this corporation shall he conducted by a Board of Directors consisting of rot less than three nor more than seven stockholders, who shall be elected annually by the stoo k holders. on the 2d Monday in October Of each year. Said Directors shall hold their office for the term of one yea? 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 stockholder in this corpora ton shall cease to be a Director or of ticer 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 ton until the 2d Monday in October. 1902, and until their success sors shall have been duly elected or appointed, and qualified:
 Elijah Coffin, President and Director; yNr1 CbI.iStx- President s. urer and Director; William F. Pome 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 os this corporation 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 a 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 q 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 10 the approval of the Board of Directors. All certificates of stock. contracts, water rights. deeds. and ConVeyanCes shall be signed in the corporate name by the President. or in his absence. bS the Vice President and be counter signed by the Secretary. and have af- fixed thereto inc corporate seal. The Board Of Directors shall have power to appoint such d 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 resu- lations deemed expedient for the man agenent of the affairs Of this corpora consistent with the Constitution and Laws of the United States or the Laws of Arizona.
 ARTICLE X.
 These Articles of Incorporation may be amended at any regular meeting of the stockholders, or at any special meeting called for that purpose by ajority vote of the stock represented at such meeting; and when such ar ticles are so amended. such amend ment or amendments shall be acilnowI- edged and signed by the President and attested by the Secretary. and have thereto affixed the corporate seal, and shall have the same effect as thougn signed and acknowledged by all the stockholders of the corpora tion-
 In Witness Whereof, We have here unto set our hands this 2TCh day of November, 1901.
 ELIJAH COFFIN