Arizona republican., 1903-07-29

this corporation is One Hundred Thous- and Dollars (slOO.OOOO divided into one thousand Q.OOO) shares of the par value of One Hundred Dollars (S1OO.OO each.
 Twenty-Five thousand dollars of said stock shall be issued. subscribed and paid for before the time the corpora tion commences the transaction of any business except the election of its officers and the opening Of its stock subscription book. The 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 be 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 a president. vice-president. secre- tary and treasurer. and the offices of secretary and treasurer may be held by one and the same person. and such otn CT officers as the Board of Directors shall from time to time determine. The affairs of this corporation shall be conducted by a Board of Directors consisting of nine (9) stockholders. which Board of Directors shall ba 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 stockholders. in each year. elect the following officers: A presi- dent and a e-president from among their number; a secretary and treas urer; and may elect or appoint an ex- ecutive committee and such other off cers and agents as they may deter mine.
 The Board of Directors shall have the power to appoint such agents to aid in the management of it's business and in conducting the affairs of the corpora tion 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 have power to establish bylaws and make all rules and regulations deemed eXpedient for the management of the affairs of this corporation and the off cers thereof, not inconsistent with the Constitution and laws oi the United States and the laws of the Territory of Arizona.
 The following named persb1s. who are subscribers to the capital stock of this corporation, are hereby consti- 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;
 F.. B. GAGE. Director:
 Y. w. PEMBERTON. Director;
 l.. II. CHALMERS, Director;
 FRANK T. ALKIRE, Director:
 II. J. McCLUNG. Director;
 M. C. McDOUGALL. Director:
 A. N. GAGE. Director:
 W. F. STAUNTON, Director.
 ARTICLE VII.
 The highest amount of indebtedness or liability to which this corporation shall at any time subject itself, over and above the amounts due depositors, is SixtyFive Thousand Dollars (S65, OOO.OO).
 ARTICLE VIII.
 The Directors of this corpora ton shall meet for the purpose of electing officers for said corporation to serve until after the first annual stockhold- CTS meeting on the second Tuesday in January. 1904, on August 1. 1903, but may adjourn such meeting from time to time for the purpose of having a quorum. or for the purpose of having all of the Board of Directors present at such meeting.
 ARTICLE TX.
 The private property of the stock holders of this corporation shall be eX- empt from the debts of the corpora tion.
 IN WITNESS WHEREOF we have hereunto set our hands and seals this 27th day of July, A. D 1903.
 T. w. PEMBERTON,
 L. H. CHALMERS.
 FRANK T. ALKIRE.
 II. J. McCLUNG
 M. c. McDOUGALL.