Arizona republican., 1907-02-03

the judgment of the directors as to the price paid for and the value of the property purchased shall be conclu- sive.
 V. The time of the commencement of this corporation shall be the date of the filing of a certified copy of these articles in the office Of the Auditor of the Territory of Arizona. and this corporation shall terminate twenty-five (2O years thereafter. Un- less renewed in the manner provided by the laws of the Territory of Ari- zona, nov in force.
 VI. The business of this corporation shall be conducted by a board of not less than three nor more than seven directors. who shall be stockholders and shall be elected annually by the stockholders of this corporation; the number of directors to serve during the next ensuing year to be determined at each annual meeting of the stock holders; and the officers of this cor pOratiOn shall be a president vice president. secretary and treasurer. who shall be elected by the board of direc- tors; and such other officers and agents of the company as shall be nes- essary for the conduct of its business shall be selected by the bOfrd of di rectOrs, in such way or manner as may be provided in the bylaws; any two of the offices mentioned herein may be held by one person. Any va cancies in the board of directors shall be filled by the board of directors at any regular or special meeting called for that purpose. and all directors shall hold office until their successors are elected and have qualified Tho first meeting of the board of directors for the election of officers and trans action of such other business as may come before it. shall be held on the first Monday in February. 1991, or as soon thereafter as the same can con veniently be held at the principal 0f- flee of this corporation. in Phoenix Arizona. And said board shall meet annually thereafter at said office in Phoenix Arizona. on the first Monday in February of each year.
 VII The first annual meeting of the stockholders of this corporation shall be held on the first Monday iu February. 1907, at the principal pIac- of business of said corporation in Phoenix. Arizona. and annually there after a meeting of the stockholders shall be held at said principal Office on the first Monday in February of each year; notice of such meetings shall be duly given to the stockhOld- $; and until the first annual meet fr, t, sFF R.. ganization of this corporation. Joseph J. Shaw. James H. Bennett and Will liam W. Cunningham shall constitute the board of directors.
 The directors named herein may adopt such rules. regulations and by laws for the conduct of the affairs of this corporation as they may deem wise. not inconsistent with the laws of the United States. the Territory of Arizona. or these articles of ,ncprpo- ration. which shall be in force until the first annual meeting Of the stockholders.
 VIII The highest amount of in debtedness. direct or contingent. Co which this corporation may at any time subject itself. shall be One Hun dred Thousand Dollars (S100. 000).
 IN. The private property of the of ficers, directors and stockholders of this corporation shall be exempt from all liability, and shall in no event be liable for the debts of this corpora tiOn.
 \. The stockholders may be repre- scented by proxy at any or all meetings of the stockholders. and vote upon all questions as though present in person
 XI. The cumulative system Of vot- ing is hereby adopted and prescribed as the system of voting at all elections of directors for this corporation
 XII. These articles of incorporation may be amended at any annual meet ing of the stockholders, or at any spe- ciaI meeting of the stockholders called for that purpose. by a majority vote of the corporation then issued. in favor of such amendment
 IN WITNESS WHEREOF. We have hereunto set our hands and seals this 31st day of January. 1907.
 JOSEPH J. SHAW (SeaD JAMES H. BENNETT (SeaD WILLIAM w. CUNNINGHAM (Se1D Territory of Arizona.
 County of MaricOpa. ss.
 Before me. George X. MintZ. a No tary Public in and for the county and territory aforesaid. on this day per sonally appeared Joseph J. Shaw. James H. Bennett and William W. known to me to be the persons whose names are subscribed to the foregoing instrument. and ac- to me that they executed the same for the purpose and consid- eration therein expressed
 Given under my hand and seal or office this 31st day of January. 1907. ( (NOtarial SeaD GEO. A. MINTZ-
 Notary Public.
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