The Arizona sentinel., 1907-07-24
ARTICLE IT.
ARTICLE III.
ARTICLE ".

corporations, for the purpose of borrowing money.
 ARTICLE ".
 That the amount of the capital stock author izcd and the times when and conditions upon which it is to be paid in. shall be as follows: The capital stock of this corporation shall be Fifty Thousand Dollars (S5o,000) divided into Five Hundred (50O) shares of the par value of One Hundred Dollars (siO0) each, and fifty (5o) per cent of said capital stock shall be sub- scribed and paid in at it's par value before this corporation shall commence bnSiness and the remainder of said capital stock shall be held in reserve by said corporation until the stockhold- CTS of this corporation at regular annual meeting thereof, or at a special meeting called for that purpose, shall, by majority vote of the stock represented at said meeting, author ize that the same may be subscribed and paid in, and when Snch action shall 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 the capital stock already paid in And when said capital stock shall all be subscribed it shall be fully paid up and at a price not less than 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 Go) per cent of said capital stock, and the termination thereof shall be twenty-five years thereafter, unless said corpo- ration shall be further extended as provided by law.
 ARTICLE VI.
 That the affairs of this corporation shall be conduc ted by board of directors consisting of not fewer than five nor more 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 no 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 day as the annual stockholders meeting, elect from among their number president and vice -preSi- dent; they shall also at the same meeting elect a cashier and secretary, provided that the cashier and secretary may be one and the same person; and the board of directors may appoint such other officers and agents as they may de termine. The directors and officers of this cor poration shall hold their offices for one year and until their successors arc elected and qual- flied. Provided however, tbat 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 Ors shall have the power to fill any vacancy, pi fhpr in tlbpir tI-u tbat of of the offices of this corporation. The following 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 office of the company in the Town of Yuma, Arizona, on the second Tuesday in January, 1908 to.wit: E. G. Caruthers. John M. J. Nugent, J. W. Darlington and A, Modesti. And E. c. Caruthers shall be pres ident, NJ. J. Nugent vice-preSident, 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 OrS.
 ARTICLE VII. The highest amount of indebtedness or ha bility 10 which this corporation is at any time to subject itself over and above the amount due depoSitorS, is $15,00O.00.
 ARTICLE VIII. The private property of the stockholders of thiS corporation shall be exempt from the debts pr liabilities of this corporation.
 ARTICLE K. As soon as practicable after the filing Of these articles in the office of the auditor of tLe Terri tory of Arizona, the persons named herein as directors shall meet and organize the board | of directors and shall adopt bylaws and may prescribe in said bylaws the method of calling | meetings of the board of directors and stock holders. And at any meeting of the board of directors majority of such board shall consti- ute quorum to transact business; and any meeting at which quorum is present shall be regular meeting and shall have the same au- hority as full board, whether notice of the meeting shall have first been given to the ab- sent members or not
 ARTICLE x.
 These articles of incorporation may be amend I'd at any annual meeting of the stockholders, | 'r at anYspecial meeting thereof when called | CT thatpurpoSe if majority vote in favor of l 'aid amendment and whenever any amendment | Sso rcade to these articles of incorporation the | 'ame shall be signed and acknowledged by the | president and secretary, and when so signed | recorded and published as re- luircd by law, they shall then and thereafter | lave the same force and effect if signed by l he entire number of stockholders of the cor ,oration.
 E. G. CaruthcrS,
 John Gandolfo,
 M. J. Nugent,
 J w. Darlington,
 4. ModeSti. Territory of Arizona. co
 County of Yuma, HS'
 On this day before me, C. L. Brown, notary public in and for the county of Yuma, Territory 'f Arizona personally appeared E. c. Caruth- 9rs' John Gandolfo, J. ". GC rrington, M. J. Nugent and A. Modesti, personally known to