The news-herald., 1903-07-11
ARTICLES OF Incorporation
OF THE
Universal Cash Discount Company.

KNOW ALL MEN BY THESE PRESENTS,
That we, the undersigned, do hereby associate
ourselves together for the purpose of forming
corporation under the laws OF the Territory OF
Arizona and to that end do certify and declare: !:
ARTICLE I.
The names of the incorporators are Frank F.
LoOmis Harry w. LoOmis and VIM. Ely Bram
hall, all residents and citizens of St. Paul, Min
shall be Universal Cash Discount Company,
and that its principal place of tranSacting bust
ness in Arizona shall be at Phoenix, and its
principal place outside of Arizona for transact
ing business shall be in the city OF St. Paul. in
the state of Minnesota.
ARTICLE II.
The general nature of the business proposed
to be transacted by this corporation is the
making of contracts with merchants and others
by which they allow discounts under certain
conditions or circumstances on sales made by
them to persons designated by this corpora
ton, and the selling by this corporation of the
right or privilege to secure the benefit of such
discounts, and the acquiring, holding, owning,
selling and dealing in all kinds Of personal
property, including the stocks of other corpor
atlonS, and the acquiring, holding, owning,
leasing, selling and dealing in lands, real
estate and hereditamentS.
ARTICLE III.
The amount of capital stock of this corpora
ton shall be fifteen thousand ($15,GOO) dollars
divided into one hundred and fifty Q50) shares
of the par value of one hundred ($lOO) dollars
each, which stock shall be fully paid for when
issued, and that said stock may be paid for by
authority of its Board of Directors in services
or property, and the capital stock SO issued
shall thereupon and thereby become and be
fully paid up and non on-assessable, and in the
absence of actual fraud in the transaction, the
Judgment Of the Directors as to the value of
the services rendered or the property purchased
on account of which the stock may be issued,
shall be conclusive.
ARTICLE ".
The time of the commencement OF this cor
I,oI
record of these Articles of incorporation in the
office OF the Auditor of Arizona, and the termi-
nation thereof shall be twenty-five (25) years
thereafter.
ARTICLE V.
The affairs of this corporation shall be con-
Quoted by Board of three (3) Directors and
the following named shall constitute the Board
OF Directors until their successors are duly
elected and qualified, to-wit: Frank F. Loomis,
harry W. Loomis and VIM. Ely Bramhall, all of
st: Paul Minnesota Thereafter the Board of
Directors shall be elected annually from among
the stockholders at the annual meeting OF the
the stockholders to be held on the first Monday
OF May OF each and every year, and who shall
hold office until their successors duly elected
and qualify.
The officers of said corporation shall be q
President, Vice President, Secretary and Treas
urer, who shall be elected at the first meeting
of the Board of Directors held after the annual
meeting OF the stockholders, and shall hold
office until their successors are duly elected
| and qualify. The officers of said corporation,
until their successors are elected and qualify,
shall be e. said Frank K. F. boomis President said
Harry W. LoOmis, Vice-President; said VIM. Ely
Bramhall, Secretary and Treasurer.
ARTICLE VI.
The highest amount of indebtedness, or liza
bility, direct or contingent, to which this cor
| poration shall at any time subject itself is the
SUM of ten thousand (s10,0tO) dollars.
ARTICLE VII
The private property Of stockholders of this
corporation shall be forever exempt from its
/ corporate debts