Arizona republican., 1906-06-25

1 manner quire real estate. and sell and dispose of the same in such manner as said corporation may deem advisable and also may buy. sell and hold any and all other kinds of property. real. personal and mixed including the stock Of other corporations. It may also control, own, manage and operate. electric light, power and telephone systems. It shall be authorized to borrow money and contract to repay the same at such times and at such rates of interest as its Board of Di- rectors may deem proper. And it shall have the right to hypothecate, mort gage or pledge all or any part of it's property, which it now owns or may hereafter acquire, to secure the pay- ment of any money or moneys borrow ed or owed by it, as its Board of Di- rectors may deem advisable.
 Article ". The amount of the can ltal stock of this corporation shall be $50 O0O.O0, divided into one thousand five hundred shares Q,5OO) of the par value of One hundred (1OO) dollars per share; and the times when and the conditions upon which the said capi- tal stock is to be paid in, are as fol- IoWs:- On making the subscriptions therefor. the amount subscribed shall De paid in, either in cash or in prop erty, and no stock shall be issued untit the same shall have been fully paid in either in money or in property and the same when so issued shall be non assessable thereafter.
 Article " The highest amount of indebtedness CT liability to which this corporation shall at any time subject ltseh or be subjected is the sum of
 
 lars.
 Article VI. The stockholders of this corporation and their private property shaii De exempt from the corporate depts of this corporation.
 Article VII. The affairs of this cor- poration shall be conducted by a Board Of Directors consisting of three stock holders, who shall be elected annually by the stockholders on the second Mon oay Tn January of each year. Said directors shall hold their offices for the term or one year from the date of election and until their successors shall be duly elected and qualified un- less they shall in the meantime cease 10 be stockholders in the cornoratiot, | and any person ceasing to be a stock holder In this corporation shall ceasa 10 be director or officer of the same | me following named persons who are | subscribers to the capital stock of this shall constitute the officers ana I, directors of this corporation, until the second Monday in January, 1907, and until their successors shall have been duly elected or appointed ana luallfied. viz:- James R. Thorpe President and Director; c F Ains- worth Vice-President and Director and George P. Brown, Secretary, Treas. lrer and Director.
 Vacancies in the Board of Diractors snail be filled by the. remaining mem 'ers or the Board for the unexpired erm for which such persons were sIecIed. majority of the Board ofl Irectors of this corporation shall he a luorpm' and any meeting of the Board U which a quorum is present shall he ieemed regular meeting and have ne same authority as a full board whether notice of the meeting shaJi rave been first given to the absent members of the Board, or not.
 Article VIII. The officers of this corporation shall be President. Vice resident, Secretary and Treasurer sho snail be elected annually by the 'odFo or Directors at their first annual meeting in each year; the president
 
 rom among their numbers. The Pres 1ent shall be the chief executive officer T the corporation, and shall have the eneral management of all its affairs uoJect to the approval of the Board of 'lrectors. All certificates of stock ohtracts, water rights, deeds and con eyances, shall be signed in the cor orate name by the President or in his bsence by the Vice President. and hel undersigned by the Secretary and ave affixed thereto the corporate seal The President shall have the power to ppoint such agents to aid in the man. cement of its business and in con- ucting the affairs of the corporation s he may deem advisable, and to vest ! said agents such power as he may eem expedient.
 Article TX. The Board of Directors this corporation shall have power establish bylaws and make all rules nd regulations deemed expedient for he management of the affairs of this orporation and the officers thereof ot inconsistent with the constitution nd laws of the United States and the lws of Arizona
 IN WITNESS WHEREOF we have ereunto set our hands this 18th day f May, 1906
 c. F. AINSWORTH.
 JAMES R. THORPE
 GEO. P. BROWN.