Arizona republican., 1903-07-30

stracts of title. To guarantee or in
sure to grantees the validity of titles
in real estate transfers. at a rate OF
compensation, and upon such terms
and conditions as may be agreed upon.
To lease. purchase, hold and convey
not to exceed one acre of land, al such
personal estate as may be necessary to
carry on its business, as we'll as such
real and personal estate as 1t ma!
deem necessary to acquire in the en-
forcement or settlement of any claims or
demands arising out of its business
transactions, and to execute and issue
in the transaction of its business all ne
cessary receipts, certificates and con-
tracts, which shall be signed by such
person or persons as may be designat-
cd by the bylaws of the corporation.
To do any and all acts and things per-
tanning, to or that may be connected
with the purpose and objects above
specified, or that may be necessary or
convenient or useful to the main pur-
poses of the corporation, in carrying
on Il savings bank and savings and loan
association, and in carrying on a gen
eral trust company business; and in
addition to the foregoing to conduct
general banking business.
ARTICLE ".
The amount of the capital stock of
this corporation is One Hundred Thous-
and Dollars ($100, 000.C0). divided into
one thousand O,G00) shares of the par
value of One Hundred Dollars ($100.0O)
each.
twenty-five thousand dollars of said
stock shall be issued. subscribed and
paid for before the time the corpora
ton commences the transaction of
any business except the election
of its officers and the opening OF
its stock subscription book. Thu
balance of the stock shall be
issued at such time and in such
amounts as the Board of Directors
may determine provided that all stock
shall be sold for cash at not less
than par.
ARTICLE V.
The time of the commencement of
this corporation shall he the date of the
filing of these articles of incorporation
in the office of the territorial au-
ditor. and the termination thereof
shall be twenty-five years thereafter.
ARTICLE VI
The officers of this corporation shall
be q president. vice-president. secre-
secretary and treasurer may be held by
one and the same person. and such 9th
er officers as the Board of Directors
shall from time to tine determine.
The affairs of this corporation shall
be conducted by d Board of Directors,
consisting of nine 80 stockholders,
which Board of Directors shall be elect
ed at the annual meeting of the stock
holders to be held on the second Tues
day of January in each year.
The Board of Directors shall. at their
first meeting following the annual
meeting of stoC kholders, in each year.
elect the following officers: a presi
dent and a vice-president from among
their number; ii secretary and Il treas
uIer: and may elect or appoint an ex-
ecutive committee and such other Off
GERS and agents as they may deter
mine.
The Board of Directors shall have the
power 10 appoint such agents TO aid In
the mana cement OF its business and i'll
conducting the affairs of the corpora
ton as they may from time 10 time
deem advisable. and may vest in such
agents such powers as they may deem
eXpedient.
The Board of Directors shall also
/ nave power To t. tTtJIlSil DN anu
make all rules and regulations deemed
cXpedient for the management of the
affairs of this corporation and the Off
GERS thereof not inconsistent with the
( Constitution ana laws OF the United
! States and the laws OF the Territory Of
Arizona.
/ The following named persons, who
are subscribers to the capital stock
( of this corporation, are hereby cOnst
tuted as directors of said corporation
/ until the first annual meeting of the
/ stockholders, to be held on the second
/ Tuesday in January 1904, and until
/ their successors are duly elected and
/ qualified, to-wit:
F. NJ MURPHY, Director;
z. r. GAGE, Director;
T. w PEMBERTON. Director;
L. II. CHALMERS, Director:
( FRANK I. ALkIRE. Director;
/ H. J. McCLUNG. Director;
NJ. c. McDOUGALI.. Director:
A y. GAGE. Director;
W. f. STAUNTON, Director
ARTICLE VII
! The highest amount of Indebtedness
cr liability to which this corporation
shall al any time subject itself. over
and above the amounts due depositors,
/ is Sixty-Five Thousand Dollars ($Gh,
| 100000.
] ARTICLE VIII