Williams news., 1903-09-12

able. in consideration of the transfer to ,his corporation of property of any description. of contracts, stocks in other corporations, bonds, notes, personal property, mining property, ser vices, choses in action. or any other valuable consideration.
 Each share of stock shall be entitled to one vote at any meeting of the stock ckholders. All transfers of stock to be valid must be made on the DOCKS o1 tRe company. and must be signed by She holder thereof. or his agent duly author- ized in writing on the back of the certificate, and tue certificate of stock must be surrendered to the company.
 ARTICLE l.
 This corporation shall commence business as soon as these articles of incorporation shall be filed for record in che office of the county re- coFdef of Coconino county. Arizona and it shall continue for a term of twenty-five years after that dates unless sooner dissolved by law, by the consent Of twO-thirds of it's ckholders-
 ARTICLE ,.
 The affalFs and business Of this corporation shall be conducted and managed by a board of directors of not less than five nor more than nine members and the president yice-presi. deRt. secretary and treasurer shall be ex-Ofticio members and all of said directors shall either be stockholders in said corporation shall hold a power of attorney from some stock holder of said company. which power of attorney shall be placed on file in the office of the corporation. Said officers and members of the board of di- rectors shall be elected each year at the regu- lar annual meeting of the stock kholders to be held at the office of the company upon the second Tuesday in August of each year, and i the following named persons shall constitute the board of directors of this corporation for the ensueing year or until their successors are N. Abbott, A. N. White A. H. Seabury, Henry I. Nesmith and George F. Wheeler, and said five members are hereby authorized to increase their number to nine, by the election of addi- tional persons to serve the board. all of whom shall hold their office until the next an- nual meeting until their successors are duly elected and qualified. and said additional mem bers so selected by the five herein named shall hold their office with all the power and author | ity they would have if specifically named here | in. Said board of directors shall have power to accept the resignation of any all of the mem- l bers thereof, and to elect successors therefor. | The said newly elected directors to hold their office until the next annual meeting after their elected by the stockholders at the annual meet ing. The board of directors shall at their first meeting following the annual election elect from their body president, vice president, | secretary and treasurer, and such other officers l and assistants, managers or agents as by them are, or may be deemed necessary in the man. l agement of the affairs of the corporation. The board of directors shall fix the time and place of meeting of the board, and may call special meetings of stockholders whenever in their meetings of stockholders may also be called by the president; and said meetings may be called must be so called when requested in writing by one-third of the outstanding stock of the cor, poration, the purpose of such special meeting being always specified in said call. The board of directors may select an executive committed to whom they may delegate the same authority and power as they exercise. Said executive committee shall keep true and complete record. of all their actions: and report the same to the 'oatu oi uifcClolS HUH tluic tO tlilie.
 ARTICLE 6.
 The board of directors may adopt bylaws fol the government of this corporation and make all rules and regulations deemed expedient fol the management of the affairs of this corpora ton and the officers thereof and not inconsist ent with the law and these articles.
 ARTICLE 7
 The board of directors shall, have the power | to dispose of all of the property of the corpora tion, or any, part thereof; but any such sale capital stock outstanding, voted at some regu | lar or special meeting of the stockholders, who shall be given a written or printed notice O such con templated sale not less than twenty days before such meeting. This article is no to be construed as limiting the authority of tn, board of directors to sell or dispose Of any linn ited portion of the property m the ordinary course Of the regular operation of the corpora power of the board to sell all or the greater par of the corporate property. outside of the ord nary operation and maintenance and carrying on of the legitimate business of the corporation 1 ARTICLE s.
 All certificates of stock, deeds, mortgages 1 bonds. notes or other evidences of Indebtedness | tracts. and leases shall be signed by the presi dent or vice president and countersigned by the secretary or assistant secretary, or by the treasurer, but the boards of directors may au thorize the general manager, superintendent or other officers or agents of the corporation tt execute leases or contracts, but such con tracts or leases may be executed to bind the | corporation in excess of the sum of Five Thou sand (s5,0o900) Dollars, unless the same be rati
 
 committee, nor may the subordinate off | lease the mines, shelter or other main portion: of the corporate property, without the direc l authority of the board.
 ARTICLE g.
 The highest amount of indebtedness foI which this corporation shall at any time bt liable shall not exceed two thirds of it's entire capital stock as provided by law.
 ARTICLE 10.
 . The private property of the stockholders o this corporation shall not in any event be iable for any of the corporate debts obligations.
 ARTICLE Il.
 These articles may be amended at any regular or special meeting of the stock holders by the affirmative vote of two-thirds of the outstand ing issued stock, exclusive of such stock as may be in the treasury, but any such amendment must be submitted in written printed mo- tice mailed to the address of each stockholder as shown by the books of the corporation. at least fifteen days prior to the voting upon the same In witness whereof we have hereunto set our hands and seals this sixth day of August, A. D.