Bisbee daily review., 1907-06-21

t$100. .00) each; the time when and the conditions upon which the said capital stock shall be issued and paid for shall be as regulated and fixed by the Board of Directors of this corporation, and when fully paid for shall be unas- sessable: said capital stock may be paid for either in cash or by the sale and transfer to this corporation of real or personal property, or contracts, or by services rendered this corpora tion. or any other valuable right or thing for the uses and purposes of this corporation, and the capital stock so issued shall thereby become fully paid and inaccessible, and in the absence of actual fraud in the transaction, the judgment of the Board of Directors as to the value of the property pur- chased or of the services rendered shall be conclusive.
 ARTICLE V.
 The existence of this corporation shall begin immediately after record ing these articles of incorporation in the office of the County Recorder of Cochise County, Arizona Territory, and filing certified copy thereof in the office of the Territorial Auditor of said Territory of Arizona, and shall continue for period of twenty-five (25) years thereafter, with the right of removal as provided by law.
 ARTICLE VI.
 The affairs of this corporation shall be conducted by Board of Directors consisting of not less than three nor more than seven persons, who shall be shareholders of the capital stock of this corporation. The first direct DTS of this corporation shall be Anton Lutz, Felix c. Lutz and A. l.. Schultz, all of Pittsburg, Pennsylvania, all of whom shall hold office until the cleo ton and qualification of their sue cessors at the annual meeting of the stockholders, which annual meeting shall be held each year hereafter on the first Monday in June at ten o'clock a. m at the office of hte company in the said City of Bsbee. The Board of Directors shall have the power to fill any vacancy in their number at any time.
 The officers of this corporation shall be a president. vice president, secretary and treasurer, and such other minor officers as the Board of Directors may from time to time deem it expedient to have. The pres ident, vice president, secretary and treasurer for the first term and until their successors are elected and quail fled, shall be elected by the above named Board of Directors from their number at the first meeting after the legal organization of this corpo yation, and thereafter such officers shall be elected annually by the Board of Di- rectors from their number at their first meeting following the annual election of such Board.
 ARTICLE VII.
 The highest amount of indebtedness or liability for which this corporation shall at any time become liable shall not exceed Sixty Thousand Dollars.
 ARTICLE VIII.
 The Board of Directors shall adopt Bylaws for this corporation which may be repealed or amended at any regular meeting of said Board.
 ARTICLE TX.
 The private property of the officers or the stockholders of this corpora tion shall be exempt from all liability for the corporate debts of this corpor- ation.
 IN WITNESS WHEREOF, the par ties hereto have hereunto set their hands and seals this 18th day of June A. D. 1907.
 CALEB R. BRINTON,
 GEORGE W. MILLER.
 Territory of Arizona, County of Co chise. ss.
 Before me, E. G. Strickler Notary Public in and for the County of Co chise, Territory of Arizona, on this day personally appeared Caleb R. Brinton and George w Miller, known to me to be the persons whose names are subscribed to the foregoing in- strument and each for himself and not one for the other acknowledged to me that he executed the same for the purpose and consideration therein ex- pressed.
 Given under my hand and seal this 18th day of June A. D. 1907.
 My commission expires May 7th, 1910.
 (Seal) E. c. STRICkLER,
 Notary Public in and for the County of Cochise, Territory of Arizona.