Arizona republican., 1905-01-31

shall be elected by the holders of the
 preferred stock and four (Dof said
 directors by holders of the common
 stock, until such time as the preferred
 stockholders have received back the
 amount of their stock at par with ac-
 crued dividends, as hereinbefOre pro-
 vided, and after the preferred stock
 shall have been retired, as hereinbefore
 provided, the board of directors shall
 be elected by the holders of the com
 mon stock The following named per
 sons shall constitute the first board of
 directors until their successors are
 elected or appointed:
 | Robert A. Kirk, Frederick R. Bige- | low, Edward A. KOnantZ, Edward Howard Morphy. William c. Strick- | land, William C. Edwards. Philip Gil- l bert, L. H. Chalmers H. B. Wilkinson, l James w. Mccormick and N. A. Nor ] ford.
 Thereafter the board of directors shall be elected at the annual meeting of the stockholders, which annual
 meeting shall be held on the last
 Thursday in January of each year at
 such place as the bylaws of this cor
 poration may provide. The board of directors shall be elected from among the stockholders in such manner as the said bylaws may provide. Any va cancy in any of the offices or in the board of directors shall be filled by the board of directors for the unexpired term. The duties of the officers and directors of this corporation shall be prescribed by the bylaws, and by laws may be made from time to time for the general management and gov ernment of this corporation not incon- sistent with these articles of incorpor- ation or the laws of the territory of | Arizona. At any stockholders meeting 1 whether within or without the terri | tory of Arizona, any holder of either | the preferred or common stock may be ! represented by proxy and the proxy | shall have the right and authority to | vote the stock of the person or persons who granted said proxy the same as If said person or persons were person. ally present at any such stockholders 
 The board of directors of this cOrpOr- ation shall have power to appoint an executive committee of not less than five C5) persons who shall be stock holders, and this committee shall have such power and authority to manage the affairs of this corporation as the board of directors may from time to time delegate to said committee.
 The officers of this corporation, un- til their successors are elected or dp- pointed shall be Philip Gilbert, presi- dent; Frederick R. BigeIow, first vice president; A. L. Moore, second vice president; H. B. Wilkinson, secretary, and Everett B. Kirk, treasurer.
 Seventh: The highest amount of in | le6tedness or liability, direct or con- -ingent, to which this corporation shall lt any time be subject shall be sixty thousand ($6O, ,OOO.0O) dollars, which amount does not exceed twO-thirds (2-S) of the said capital stock.
 Eighth: The private property of the stockholders of this corporation shall De exempt from the corporate debts of every kind and nature whatsoever, and his article cannot be amended, alter ed or changed.
 IN WITNESS WHEREOF we have : lereunto set our hands and seals this 10th day of January. 1905.
 Signed, sealed anG delivered in presence of $. l. LOughran, JnO. M l Bradford.