The Arizona sentinel., 1907-07-10
ARTICLE ".

That the amount of the capital stock author izetl and the times when and conditions upon which it is to be paid in, shall be ;ts follows: Thc capital stock of this cooperation shall tre Fifty Thousand Dollars (Sjg,0CO} divided into Five Hundred (j)0) shares of thc rar value of One Hundred Dollars (BC0) each, and fifty (5H} per cent of sail capital stock shall be sub. scribed and paid in at it's par value before this corporation shall commence business, and tke remainder of said capital sto k shall be held in reserve by said corporation until the stockhold- CTS Of this corporation at q regular annuol meeting thereof Or at @ special meeting called for that purpose, shall, by a majority vote of the stock represented at said meeting, author izc that the same may be subscribed and paid in. and when snch action snail have been taken by the stockholders said stockholders shall have the first right to subscribe therefor and for the same amount that they shall each then own of tho capital stock already paid in. And when said capital stock shall all be subscribed it shall bc fully paid up and at price not less shan par
 ARTICLE V.
 That the time of the commencement of thiS corporation shall be the date Of filing certified copy of these articles of incorporation in the office of the auditor of the Territory of Arizona, and paying in fifty C50} per cent of said capital stock and the termination thereof shall be twenty-five years thereafter. unless said corpe- ration shall be further extended as provided by law.
 ARTICLE VI,
 That the affairs Of this corporation shall he conducted by board of directors consisting oI not fewer than five nor Elore than nine persons who shall be stockholders of this corporation, which board of directors shall be annually elected from among it's stockholders on the sec ond Tuesday of January in each year hereafter at the hour of ten o'clock in the forenoon of said day but if 10 election be held on tbat day it may be held at some later date by special meeting called for that purpose. The board of directors shall at their first meeting in each year, which meeting may be on the same Gay as the annual stockholders meeting elect from among tiyeir number president and vice-presi- dent; they shall also at the same meeting elect Gs cashier and secretary, provided that the cashier and secretary may be one and the same person; aud the board of directors may appoint such other officers and agoabs as they may de- ter1niae The directors and officers of this cor poration shall hold their offices for one year and until their successors are elected and qual- fled Provided, however. that the board of directors shall have the power to remove at any time any of the officers or agents appointed by or elected by them, and the board of direct OTIS shall have the power to fill any vacancy. either in their own number or that of any of the offices of this corporation The fol!owing5 named persons who are subscribers to the cap ital stock of this corporation, are hereby ap- pointed directors Of said corporation until the first annual meeting of the stockholders, which shall be held at the ofIice of the company in the Town of Yuma, Arizona, on the second Tuesday in January 1908, to.wit: E. G. Caruthers. John Gandolfo, M..J. Nugent, J. w Darlington and d. 11odosti And E. C.. Caruthers shall be pres ident, Nj. J. Nugcnt vice-presiGent, and Henry M Gandolfo cashier and secretary, who shall hold their offices until the first annual meeting of the stockholders of this corporation, unless sooner removed by the board of direct OTIS.
 ARTICLE VII.
 The highest amount of indebtedness CT lta bi!ity io which this corporation is at any time ] to subject itself, over and above the amount due depositors is $i5,O9Ot0
 ARTICLE VIII.
 The private property of the stockholders of i this corporation shall be exempt from the debts or liabilities of this corporation.
 ARTICLE TX.
 As soon as practicable after the filing of these articles in the clicc Of te auditor of the Terri tory of Arizona, the persons named herein as directors shall meet and organize as the board of directors and shall adopt bylaws and may , loF meetings of tae board of directors and stock | holders s1es s.s any meeting of the board of