Bisbee daily review., 1905-08-09

Board of Directors. The Board of Directors may issue stock in exchange for property or services, and the judgment of the Board of Directors as to the value of such property and ser vices shall, in the absence of fraud, be conclusive.
 Article ".
 The time when this corporation shall commence shall be the date when a copy of these Articles. certi fled by the Recorder of Cochise Coun | ty, Arizona, to be a copy of these original Articles heretofore filed in the office of said County Recorder shall be filed for record with the Ter ritorial Auditor, of said Territory of | Arizona, and the time of its termina- ton shall be twenty-five (25) years thereafter.
 Article V.
 The affairs of the corporation shall be conducted by a Board of seven (O | Directors. who shall be elected by the stockholders at their annual meeting. ] to be held at the principal place of business of the corporation at Baker vile aforesaid on the second Tues day of April. 1906. and on the second l Tuesday of April of each year there after. and shall hold office for one year. and until their successors are { elected and qualified. Until the first annual meeting of the stockholders. the Board of Directors shall be Edwin ' Hobbs, James L. Norman, John F. Me Laren, Lee w. Farmer. Edward J. Nancy. Frederick K. Kennedy and Daniel R. Smith, all of the city of Du- i uth, state of Minnesota, who shall hold office until their successors are elected and qualified. As soon as possible after the certified copy of these Articles is filed for record with the said Territorial Auditor. the said Board of Directors shall hold it's first meeting at the general office of the corporation in the Lyceum building in the City of Duluth. and the pres ence of majority of the said directors at said meeting shall be a valid quo rum for the transaction of business. whether the remaining directors have had notice of such meeting or not. Att said first meeting the Board of Direc- tors shall organize the corporation and elect it's officers. and provide for and direct the issuance of its stock. receive and accept subscriptions toI the stock, and transact any other busi- ness within the power of said board
 The Board of Directors shall adopt bylaws. Thich shall be the bylaws of the corporation until the close of the first annual meeting of the stock holders, and thereafter if ratified by the stockholders. At their general meeting the stockholders may adopt new bylaws or repeal or amend the bylaws heretofore adopted by the Board of Directors.
 The officers of the corporation shall consist of a President, Vice-Prestdent Secretary and Treasurer. who shall be elected by the Board of Directors from among their number, except that the l Board of Directors may at it's dis cretion. elect a Secretary who is not Ia Director
 | Every director shall be a stocl,hcid- CT in the company or q subscriber toI l it's stock. and any director ceasing 10 be stockholder or subscriber. shall cease to be a director. and the Beard of Directors shall have power at any . time 70 fill vacancies therein. Article VI.
 The highest amount of Indebtedness or liability to which the corporation is at any time to subject itself shall be Ihe sum of six hundred thousand tSGO0.0 dollars.
 Article VII.
 The stockholders and their private property shall be exempt from the corporate debts, and from all liability therefor.
 IN WITNESS WHEREOF. we have hereunto set our hands and seals this 2Gth day of June 1905.
 (SealD FRANK II. HEREFORD.
 (Seal1 FRANK W. DOAN.
 (Seal.l JENNA K. HOBBS.
 Territory of Arizona, County of Pi- | ma ss
 Before me. O. T. Richey, a notary | public in and for the County of Pima. | Territory of Arizona, on this day per | sOnally appeared Frank H. Hereford, | Frank W. Doan and Lenna K. Hobbs. | known to me to be the persons whose | name are subscribed to the foregoing | instrument and acknowledged to me | that they executed the same for the | purpose and consideration therein expressed.
 Given under my hand and seal of | office this 26th day of June 1905.
 (Seal) O. T. RICHEY,
 Notary Public. |
 My commission expires 25th day of August 1907.
 Filed and recorded at request of Hereford & Hazard. June 27. A. D. 1905. at ? p. m. Book 8. Interpretations. at page 421 to 426.
 Territory of Arizona, County of Co chise, ss.
 I. Frank Hare. county recorder in and for said county, hereby certify that I have compared the annexed copy with the original Articles of In- corporation of the Warren Realty & Development Company filed and re- corded in my office on the 27th day of June. 1905.
 Witness my hand and seal of office. this 27th day of June 1905.
 (Seai.) FRANK HARE, |
 County Recorder.
 Filed in the office of the Territorial Auditor of the Territory of Arizona,