The news-herald., 1903-07-25
ARTICLES OF INCORPORATION
Universal Cash Discount Company.

KNOW ALL MEN BY THESE PRESENTS,
That we, the undersigned. do hereby associate
ourselves together for the purpose of forming
a corporation under the laws of the Territory of
Arizona and to that end do certify and declare ::
ARTICLE l.
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
neSOta; and that the name of the corporation
shall be Universal Cash Discount Company,
and that its principal place of tranSacting busi-
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
atiOnS, 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 (sl5O1O dollars,
divided into one hundred and fifty Q50) shares
of the par value of one hundred ($100) dollars
each, which stock shall be fully paid for when
1SSucu, anu JDdt Sdlu SIOCK may De pa1U lot Dy
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 worcestershire, and in the
absence of actual fraud in the transaction, the
Judgment of the Directors 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
DOrAtiOn shall be the date of the filing
record of these Articles OF IncOrpOra ton 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 are duly elected
and qualify.
| The officers of said corporation shall be a
President, Vice-President, Secretary and Treas
J 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,
| SlIdl1 Dc SdlI Iduh 1IOOLHlS, ISSlucIlJ SdIu
| Harry w. LOOmis, president; said VIM Ely
/ nramhall, Secretary and Treasurer.
ARTICLE VI
The highest amCrnt OF indebtedness or liza
biIity, direct or contingent, to which this cor
poratiOn shall at any tins subject itself is the
sum Of ten thousand ($10Gt0j dollars
| ARTICLE VII.
The private property of stockholders ofth
corporation shall be forever exempt from :ts
teorporate debts.