Arizona republican., 1906-01-20
LIS

personal property; mines, mining claims, oil lands, coal lands, mineral lands, oil, gas coal, shale, asphaltum. petroleum, asbestos. salt, water and water rights and machinery, and to work, mine, explore, operate and de- velop the same: and in general to do all things necessary to the proper con duct of the business of this corporation in the territory and elsewhere, not in consistent with the laws of the United States and the territory of Arizona Third. The authorized amount of capital stock of this corporation shall be one million dollars (S1 1000, ,0OO) di- vided into one million shares of the par value of one dollar CS1.OO) each. At such times as the board of direc- tors may by resolution direct, said cap itaI stock shall be paid into this cor pOration, either in cash or by the sale and transfer to it of real or personal property for the uses and purposes of said corporation, in payment for which shares of the capital stock of said cor poratiOn may be issued, and the capi- tai stock so issued shall thereupOn and thereby become and be fully paid up and nOn-assessable, and in the absence of actual fraud in the transaction the judgment of the diretors as to the val ue of the property purchased shall be conclusive.
 Fourth. The time of the commence ment of this corporation shall be the date of the filing of a certified copy of these articles of incorporation in the office of the auditor, and the termina- tion thereof shall be twenty-five years thereafter.
 Fifth. The affairs of this corpora tiOn shall be conducted by board of five directors and the following named shall constitute the board of directors until their successors are elected: John Drager, James w. Cough, John N. FL bert. Thereafter the board of direct ors shall be elected from among the stockholders on the first Monday in December of each year. The officers of said corporation until their success sors are elected shall be: John Dra- ger, president; James w. Cough. vice president; John N. Ebert, secretary; John N. Ebert, treasurer.
 Sixth. The highest amount of in debtedness or liability, direct or con- tingent, to which this corporation is at any time subject shall be six hundred thousand dollars ($6OO,O0O) which amount does not exceed two-thirds the amount of capital stock.
 Seventh. The private property of the stockholders of this corporation shall be exempt from corporate debts
 
 In witness whereof, We have here unto set our hands and seals this 29th day of November, 1905.
 JOHN DRAGER (SeaD
 JAMES w. COUGH (SeaL)
 JOHN N. HILBERT, (SeaD State of California,
 City and county of San Francisco ss
 On this 18th day of November, in the year 1905 before me, John H. Ware, a notary public in and for the state and county aforesaid. re- siding therein, duly commission ed and sworn, personally ap- peared John Drager, James w. Cough and John N. Ebert, known to me to be the persons described in. whose names are subscribed to, and who executed the annexed instrument. and they acknowledged to me that they executed the same for the purposes and considerations therein expressed In witness whereof, I have hereunto set my hand and affixed my official seal at my office, in the said state and county, the day and year, last above written.
 JOHN, H. WARE, Notary Public in and for the city and
 county of San Francisco. state of
 California.
 303 James Flood Bldg.
 My commission expires Sept. 24. 1907.