Arizona republican., 1906-04-22

ever it's directors may see fit, and de- termine, and to mortgage or otherwise it's plants. or the principal machinery, as and when thereunto authorized by things necessary, incident. appropriate Or relating to the aforesaid purposes or any Of them.
 mercantile business, far as, in the opinion of the directors, it may be nec- essary to do so for the purpose Of pro- to be used in carrying out the objects herein set forth.
 lawful business incident, appurtenant or relative to the various lines of business hereinbefore referred. to or any Of them
 The amount of the capital stock of said company shall be one million dollars S1,- OO9OU0), and the number of shares of which said stock shall consist shall be one million shares, of the par value of one dollar CS1.0O).
 The time of the commencement of the corporate existence of this company shall be the date of the filing of a copy of the said articles duly certified by the county recorder of county. with the ter thereof shall be twenty-five years there after, and it's charter rights may be re- newed for another period of twenty five years upon the vote of three-fourths of the stockholders given at q meeting duly called for that purpose
 The affairs of this corporation shall be conducted by a board of directors who shall be elected annually by the stock holders; the number of said directors shall be not less than two nor more than eleven. and the names of those who pany for the first year of it's corpor- ate existence. and until their successors shall have been elected and qualified, are k. B. Higbee and C. M. Higbee
 The annual meeting of the stockhold- CTS for the election of directors and the transaction of other corporate business shall be held on the second Tuesday of January in each calendar year, and may be held beyond the limits of the terri
 The directors meetings may be held within or without the territory of Ari- zoua, as may be provided by the bylaws. and the right to vote by proxy at the meetings of both stockholders ana the directors is hereby established. The di- rectOrs have the power to elect. desig- nate and appoint such officers and agents of the company as they may con- sider necessary or eXpedient, and to re- move the same at pleasure and to fix the salary of such officers and agents.
 VII.
 The highest amount of indebtedness or liability, direct or contingent. to which this. corporation shall at any time be subject or which shall be incurred. either directly or indirectly, by this com pany. shall in no event exceed in amount or be equal to two-thirds of the said cap ital stock.
 The private property of the stockhold- CTS of this corporation shall be and is exempt from all liability for the debts or obligations of this corporation and there shall be no individual liability on the part of the stockholders of said cor poration for corporate obligations.
 All of the stock of said comnanv shall be non-assesSable and all any part thereof may be issued. full paid. in pay ed and performed, or in the purchase of and payments for mines, mineral or pla- cer deposits. mining or other property, or rights thereto, or interest therein or for water. ditch. or reservoir rights priViligeS or DrioritieS, Tor mills. mon ufactuTies. buildings. machinery or other property and when deemed by the board of directors to be necessary for the business of the company. and when not liable to any further calls or assess ments.
 The directors of said company shall have the power to make, alter, amend and repeal such bylaws $ they may deem proper for the management of the affairs of the company, not inconsistent with the laws of the territory Of Ari- zona for the purposes of said company. In witness whereof we have hereunto set our hands and seals this seventh day
 R. B. HIGBEE, ,Cseal)
 c. M. HIGBEE. (SeaD Signed, sealed and delivered in the presence of
 K. w. SULLIVAN, T. s. RTCHWORTH. State of Minnesota.
 County of RamSey-Ss. On this Sth day of March, A. D.. 1906. before me, notary public in and for said county and state aforesaid. residing therein, duly commissioned and sworn personally appeared R. B. IIigbee and c. NJ. Higbee. known to me to be the per sons described in, and whose names are subscribed to the foregoing instrument and they acknowledged before me that they executed the same for the purposes and considerations therein expressed IS their free and voluntary act and deed. In witness whereof. I have hereunto set my hand and affixed my official seal state V aforesaid, the day and year last above written CSeal) T s. RICHWORTH Notary Public. Ramsey county, Minn. My commission expires July ?. 1910.