Arizona republican., 1903-10-10

Arizona shall be the City of Detroit, in the State of Michigan, at "..>-i place meetings of the Board of Direc- tors may be held, and the corporation may have such branch offices either within or without the Territory of Ari- zona as may be established by the Board of Directors.
 Second. The general nature of the business proposed to be transac acted by the corpora ton Is as follows, to-wit: To purchase. lease, bond. locate or otherwise acquire. own, exchange. sell or otherwise dispose of. pledge. mort gage, hypothecate and deal in any and all kinds of personal property, mines. mining claims. oil lands. min eral lands, oil. gas, asphaltum. and machinery, and to work. mine explore. operate and de- velop the same. To do general merchantile business: to own. handle and control letters patent and inven- tions and shares of stock of other cor porations; to borrow money and exc cute notes, bonds. mortgages or deed of trust to other securities and obli- gations. and any and all rights. powers, and privileges O. individual owners thereof. including the right to vote upon any shares of stock held by it to the same extent that a natural person could or might do: and in gen eral to do all things necessary to the proper conduct of this corporation in the Territory and elsewhere. not in consistent with the laws of the United States or the Territory of Arizona.
 Third. The authorized amount of capital stock of this corpora tion shall be one million dollars ($1.000.O00) divid- ed into shares of the par value of one dollar (S1.) each. At such time as the Board of Directors shall by resolution direct. said capital shall be paid into this corporal ton, either in cash CT by the sale and transfer to it. for tha use and purpose Of said corporation. of such real or personal property and at such valuation as the Board of Di- rcctors may Getermine: whereupon cer- tincates of ~tack may be issued. and the capital stock so issued shall there upon and thereby become and be fully paid and non-assessable. and in the absence of actual fraud in. the trans- action the judgment of the Board of Directors as to the value of the property SO purchased shall be con elusive.
 Fourth The time of the commerce. ment of this corporation shall be the date of filing these Articles of Incor- pornt tion in the office Of the auditor St A. izona, and the termination thereof shall be twenty-five years thereafter.
 Fifth. The affairs of this corpora ticn shall be conducted by board nf not lees than five or more than ten di- reCtor~ who shall be elected at th'A annual stockholders meeting to be held the second Monday in January of each year and in such manner as shall be prescribed by the Bylaws, and when elected they shall hold office until their euccessn.s are elected. Jonathan A. Zahn, William Johnston, Jay J. Del bridge. Luther P. Holt and Wm. J. K. Johnston shall constitute said board Of directors from date hereof and shall constitute said board until the next annual meeting of stockholders or until their successors are elected and quail fled.
 S..-th. The highest amount of ln- debtedness or liability direct or contin- gent to which this corporation shall at any time subject itself Is two hun dred thousand dollars (s200. .000).
 Seventh. The private property of the stock ohlders of this corporation shall be exempt from corporate debts of any kind whatsoever.
 In witness whereof. We have here unto set our hands and seals this tenth day of September. A. D.. 1903.
 Jonathan A. Zahn, (SealO
 William Johnston, (SeaC
 Jay J. Delbridge, (Seal.)
 Luther P. Holt. (Seal)
 Wm. J. R. Johnston, (SeaI)