Arizona republican., 1902-12-14


 ercise in respect of all such bonds, | mortgages, notes, shares of capital stock and other securities and obliga | tions any and all rights, powers and l privileges of individual owners thereof, | including the right to vote upon any
 shares of stock held by it to the same | extent that a natural person might or
 could do, and generally to do any and all acts and things, and to transact | any and all other business incidental
 to the purpose aforesaid, and not con-
 trary to the laws of the Territory 0f
 Arizona or the United States of Amer | ica, or other country or countries in
 which said company may be operating
 or doing business, it being expressly
 provided that the foregoing enumera-
 tions of specific powers shall not be
 held to limit or restrict in any manner
 the powers of this corporation.
 Fifth: That the capital stock of this | corporation shall be five hundred thou | sand dollars ($5OO, ,O00), divided into five hundred thousand shares of the par value of one dollar ($1.OO) each At
 such time as the board of directors may by resolution direct, said capital stock
 
 either in cash or by the sale and trans
 fer to it of real and personal property
 for the uses and purposes of said cor poration, in payment for which shares
 of the capital stock of said corporation
 may be issued, and the capital stock
 so issued shall thereupon and thereby become and be fully paid up and non assessable.
 Sixth: That the life of this corpora
 ton shall commence immediately upon the filing of these articles of incorpora- with the county recorder of Maricopa
 county, Territory of Arizona, and shall continue for the full term and period oi twenty-five years thereafter.
 Seventh: The management and con trol of the business affairs of this cor . poration shall be vested in and con- ducted by a board of directors consist { ing of five members who must be II stockholders of this corporation and shall be elected annually by the stock holders at the annual meeting of the ! stockholders, which shall be held at s such place, within or without the Ter ritory of Arizona, as may be designated by the bylaws, and hold office for { the term of one year from the election, { and until their successors are duly elected and qualified, unless a director q shall cease to be a stockholder, in a which case his office shall be declared ] vacant, and such vacancy filled for the B unexpired term by a majority vote Of 3 the remaining members of the board of s directors. The directors shall have the 2 right to fill any vacancy occurring in the board by death, resignation or otherwise, by a majority vote of the s remaining directors of the corpora ation, the person elected to fill the vacancy { to hold his office until the next annual a meeting of the stockholders. directors 8 to be elected from the stockholders of < record at the time of such election A majority of all the members of the ! board of directors shall constitute a q quorum for the transaction of any and s all business. The following named per S sons shall constitute the board of di- . rectors of the corporation until their s successors are elected: J. H. McCIin- q tock A. w. Galpin, V. C. Cook. L. C. Masten. of the City of Phoenix. Mari copa county. Arizona Territory; and w. H. McClintock of Sonora, Tuolumne
 county, State of California.
 Eighth: The officers of the corpora
 tion shall be president, secretary and
 treasurer. and such other officers as
 may be provided for by the board of
 directors. The officers of this corpora tion shall be elected annually by the
 board of directors at such times as may
 be by the bylaws of this corpora tion
 designated, and until their first annual
 election, and until their successors are
 duly elected and qualified, the follow , ing named persons shall constitute the
 officers: President, J. H. McClintock; secretary and treasurer, A. w. Galpin.
 Ninth: The highest amount of in- : debtedness or liability to which the
 corporation may at any time subject
 itself shall be not to exceed fifty per
 cent of the par value of the stock. , Tenth: The private property of the s officers, directors and stockholders of - this corporation shall be exempt from . all liability. and shall not. in any event, e be liable for the debts of the corpora , ton, however incurred
 - Eleventh: The regular annual meet
 ing of the stockholders shall be held at - the office of the company at San Fran |. cisco, California, on the second Monday ., in December of each year, at which - meeting, among other things, the board i of directors shall be elected.
 i At all meetings of the stockholders f a majority representation of the capi-
 ! toi SNOCh SIldl COHSlllute a quorum TOT - the transaction of any and all business Q and majority vote of the shares q present shall decide all matters before
 the meeting except as otherwise pro- r vided in these articles of incorpora- a tion.
 |, Twelfth: The stockholders may be f present at any of the stockholders y meetings and vote upon the questions n presented, and they may he present ir !. person or vote by proxy, provided al $ ways that such proxy shall be a stock e holder in the said corporation.
 Q Thirteenth: In every instance where IT stockholders are entitled to vote on the IS election or removal of officers, or O. l. business affairs of the corporation, eacf II stockholder shall be entitled to anC l. have counted, one vote for each share t of stock held by him, either as owner ol ,- as proxy, appointed in writing by tht n. owner