Williams news., 1902-06-21
ARTICLE ".

shall be on the date of filing of these Articles of
 Incorporation for record, required by the laws of the Territory of Arizona. and the said corporation shall continue for the period of fifty years. and for such other term it may
 be renewed. according to the provisions of the
 statutes in such cases made and provided. ARTICLE V.
 The amount of the capital stock of this cor
 PoratiOn shall be and is three million CsS.ooo.- ooo) dollars. divided into thirty thousand Cso.ooO) shares of one hundred CxlOO) dollars each. and which said amount Of capital stock is the actual contem mpiated cost of construction and equipment of said railroad. together with
 the cost of right of way and motive power. depot and station grounds. buildings and all appurtenances and appliances necessary to the lawful operation of said railroad. nearly as can be estimated by competent engineers. which
 sum shall be paid in from to time the com
 pany by the action of its Board of Directors
 shall require
 ARTICLE VI. That the number of directors who shall man.
 age the affairs of this corporation and who
 shall hold their office until their successors
 elected, shall be five. and their names are as follows; A. L. Hall. A. E. Colt. H. L. Byrne, N
 F. sauer. ChAs. Bles. all of New York City. ARTICLE VII. The direction. length and termini of said rail-
 road shall be follows: Beginning a point
 on the santa Fe Pacific railroad at near the
 town of Williams. County of coconino. Terri tory of Arizona. and running thence in a north
 westerly direction along near or parallel to
 Cataract creek. Coconino County, to the Col
 orado river. Arizona, distance of about
 ninety miles said railroad being in but one
 county. to-wit: Coconino County. Arizona
 Territory.
 ARTICLE VIII. The purpose for which this corporation is
 formed and the general nature of the business proposed to be transacted Is to construct, oper-
 ate and maintain a line of railroad. telegraph
 and telephone in said Coconino County. Ari-
 zona Territory, along. or near, or parallel with
 Cataract Greek in the County of Coconino to the Colorado River in said Territory, and also to construct. operate and maintain such build ings. structures. machinery. apparatus, as may
 be deemed necessary and convenient for oPer- Ating said railroad. telegraph and telephone line: to cause such examinations and surveys to be made may be necessary for selecting the most suitable route for said railroad, tele- graph and telephone line, and for that purpose
 by its officers and agents to enter uPor the
 lands and waters of the territory. ARTICLE TX. This corporation shall have the power to quire by purchase otherwise real and per
 sonAl property. and shall have the power to
 mortgage it's real and personal property and issue bonds hereunder, and do all things per
 missible by under the laws under which this company Is incorporated
 ARTICLE \. The highest amount of indebtedness lia- n time subject itself shall not exceed two-thirds of its capital stock
 ARTICLE XI Private property of the members and stock
 holders of this corporation shall be exempt from corporate debts
 ARTICLE XII.
 The Directors shall have the power to make bylaws for governing the business and affairs
 of this corporation
 ARTICLE XIII The affairs of this corporation shall be con
 ducted by President. Vice-President, Secre- tary. Treasurer and a General Manager. acting
 in accordance with the respective duties as the
 same shall be more particularly defined in the bylaws of this corporation. Said officers shall
 be elected at the annual meeting of the Board of Directors of this company, to be held on the
 second Tuesday of January of each year during
 the existence of this corporation. excepting.
 however. that the directors shall have the
 right. by n majority vote. to elect officers of the corporation who shall conduct its affairs from
 the time of the completion of its organization
 until the frst annual meeting. hereinabove
 provided
 In witness whereof. the subscribers have
 hereunto set their names. places of residence
 and the number of shares of stock in said cor poration taken by them severally: Name. Residence shares Amount A. L. Hall New York City -s7O. ss7. .0o0oo A. B. Colt New York City. IO.... 10000
 II. L. Byrne. New York City. S.. 5000
 N. F. Sauer.- New York City. d.. 5000 Chas. Bles New York City. 1O.... 10000