Arizona republican., 1903-10-12

Arizona shall be the City of Detroit, in the State of Michigan, at which 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 Arl- zona as may be established by the Board of Directors.
 Second. The general nature of the business proposed to be transacted by the corporation 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. petroleum, water and water rights 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~upen any shares of stock held by | it to the same extent that 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. l Third The authorized amount of capital stock of this corporation shall 1 be one million dollars ($1.0O0 ,000) 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 corporation, either in cash or by l the sale and transfer to it, for the use and purpose Of said corporation, of | such real or personal property and at such valuation as the Board of Di- rectors may determine: whereupon cer-' | tifcates of stock may be issued, ana the capital stock so issued shall tnere- upon and thereby become and be fuiiy l paid and ncn-assessable, and Tn the absence of actual fraud in the trans action the judgment of the Board of | Directors as to the value of the l property so purchased snail pc coH- | elusive.
 II. ment of this corporation shall be the date of filing these Articles of Incor- poration in the office oi the auditor or Arizona, and the termination thereof shall be twenty-five years thereafter.
 Fifth. The affairs of this corpora tion shall be conducted by board or not less than five or more than ten di- rectors who shall be elected at the annual stockholders meeting to be held the second Monday in January of each year and in such manner as shall De prescribed by the Bylaws, and when elected they shall hold office until their successors are elected. Jonathan A. Zahn, William Johnston. Jay J. Del bridge, Luther P. Holt and Wm. J. k. Johnston shall constitute said board or l directors from date hereof and snail constitute said board until the next annual meeting of stockholders or until their successors are elected and quail l fled.
 Sixth The highest amount Of 1n- debtedness or liability direct or contin- gent to which this corporation shall at any time subject itself Is two hun- dred thousand dollars (s200,00O.
 Seventh. The private property or the stockholders of this corporation shall he exempt from corporate debts of any kind whatsoever.
 Tn witness whereof, we have here unto set our hands and seals this tenth day of September. A. D.. 1903.
 Jonathan A. Zahn,, (Seal.j
 William Johnston, (SeaL)
 Jay J. Delbridge. (SeaLl
 Luther P. Holt, (Seal-)
 Wm. J. R. Johnston. (Seal.)