Bisbee daily review., 1904-09-04

ors may determine, and the stock when so issued shall thereupon and thereby become full paid and non-assessable. The judgment of the Directors as to the value of the property purchased or of services rendered shall be con elusive.
 ARTICLE ".
 The time of the commencement of this Corporation shall be the date of the fil- ing of these articles in the office of the Territorial Auditor and the termina- tion shall be twenty-five (25) years thereafter.
 ARTICLE. V.
 The affairs of this Corporation shall be conducted and controlled by Boari of Directors consisting of not less than three persons all of whom shall be stockholders; they shall be elected an- nually at the regular meeting of the stockholders held at the office of the Company in Naco, Cochise County, Arizona, each year on the sixteenth day of October at three o'clock P. NJ. and should said day fall on Sunday or legal holiday the annual meeting for that year shall be held on the cay devious. and said members of tie Board of Directors shall hold office until their successors are elected and qualified. Any Director ceasing to be a stock-holder shall thereby cease to be a Director. Any vacancy occurring in | the Board of Directors shall be filled by the remaining members of the Board by appointment from the stock holders and such appointment shall be for the unexpired term for which it is made A majority of the Board of Directors shall constitute a quorum for the transaction of business.
 The officers of this company shall consist of a President, President, Secretary and Treasurer, and any other officer or officers deemed neces. sary or advantageous by the Board of Directors who shall be elected by the Board of Directors at its first meeting after election or appointment. Any Di- rector may hold one or more of said offices except those of President and Vice President.
 ARTICLE VI. | The highest amount of indebtedness or liability to which this Corporation is at any time to subject itself shall in no case exceed one third of its capitalization.
 The private property Of the stcC k. holders of this Corporation shall be exempt from any and all liability of the Corporation debts.
 1 The first Directors of this corpora tion shall be W. c. Greene, B. A. Pack ard and E. J. Gates. who shall hold of- flee until their successors are elected and qualified.
 The first annual meeting of the stock. holders of this Corporation shall be held on the fifteenth day of October, 1904 at the office of the Company in Naco. Arizona, at three o'clock P NJ IN WITNESS WHEREOF. we have hereunto set our hands and seals in duplicate this day of 1904 office. this 23d day of August. 1904 l W. C. GREENE, (SeaD. B. A. PACKARD, (SeaD.
 E. J. GATES. (SeaD. i Territory of Arizona.
 County of Cochise, ss.
 On this 23d day of August, 1904 before me, Notary Public in and for the County of Cochise, Territory of Arizona, personally appeared w. C. Greene, B. A. Packard and E. J. Gates known to me to be the persons whose names are subscribed to and who exc cuted the foregoing Articles of Incor. poration and acknowledged to me, each for himself, that he executed the fore going instrument for the purposes and consideration therein expressed.
 Given under my hand and seal oi office, this 23d day Of August, 1904. (Seal. c. B. MABEE,
 Notary Puplic.
 My. Commission expires February 97tb 1Qac