Bisbee daily review., 1904-09-11

tion shall be Ten Million Dollars (S10,. OO0.000) divided into one million Q,000,000) shares of the par value of Ten Dollars tS10.00 each), which stock shall be issued for cash. services or property at such time and in such manner as the Board of Directors may determine, and the stock, when so is- sued, shall thereupon and thereby be- come full paid and non-assessable. The judgment of the Directors as to the value of any property purchased being either paid for in cash or by the issuance of stock. or of the value of services rendered shall be conclusive. ARTICLE W.
 The time of the commencement of this Corporation shall be the date of the filing of these Articles in the of flee of the Territorial Auditor and the termination shall be twenty-five (25) years thereafter.
 ARTICLE V. .. .. .... The affairs of this Corporation shall be conducted and controlled by a Board of Directors consisting of not less than three persons all of whom shall be stockholders; they shall be elected annually at the regular meet ing of the stockholders held at the office of the Company in Naco. Co., chise County, Arizona. each year or the sixteenth day of October at three o'clock P M and should said day fall on Sunday or legal holiday the annual meeting for that year shall be held on the day previous, and said oc 414 ~S shall hold office until their successors are elected and qualified. Any Di- rector ceasing to be a stock-holder shall thereby cease to be a Director. Any vacancy occurring i1 the Board of Directors shall be filled by the re- maining members of the Board by ap- pointment from among 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 quorum for the transaction of business.
 The officers of this Company shaii consist of a President, vice-President Secretary and Treasurer, and any otn- or advantageous by the Board of Di- rectors, who shall be elected by the Board of Directors at it's first meeting after election or appoint ment. Any Director may hold one or more Of said offices, except those of President and vice-President.
 ARTICLE VI. .. .. ....
 The highest amount of indebted ness or liability to which this Cor poration is at any time to subject it. self shall in no case exceed one third of it's capitalization.
 The private property of the stock holders of this corporation shall be exempt from any and all liability of the Corporation debts.
 The first directors of this Corpora tion shall be w. c. Greene, B. A. Packard and E. J. Gates, who shall hold office until their successors are elected and qualified.
 The first annual meeting of the stockholders of this Corporation shall be held on the fifteenth day of Novem- Der, 1904, at the office of the Com pany in Naco, Arizona, at three o'clock P. M.
 IN WITNESS WHEREOF, we have hereunto set our hands and seals in duplicate this day of 1904.
 w. c. GREENE (SeaD
 B. A. PACKARD (Seal E. J. GATES (SeaD Territory of Arizona.
 County of Cochise. ss.
 On this 23d day of August. 1904, be- fore me, a 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 executed the foregoing Articles of Incorporation and acknowledged to me, each for himself. that he exc cuted the foregoing instrument for the purposes and consideration therein expressed.
 Given under my hand snd sea. of office, this 23rd day of August, 1904.
 (SeaD C. E. MABEE-
 Notary Public.
 My commission expires February 27th, 1906.