Daily Arizona silver belt., 1907-03-28
ARTICLE III.

poration is and shall be the sum of Two Million Dollars ($2,O00,000), which cap. ital stock shall be divided into two hundred thousand shares of the par value of 5000 each share. At such times and under such conditions as the Board of Directors may direct, such cap. ital stock shall be paid into the cor. poration, either in cash or by sale and transfer to it of real or personal prop. erty, or by services for the use and purpose of said corporation, in payment of which shares of the capital stock shall be issued, and said stock when issued shall be fully paid and non-as sessable, and the judgment of the Board of Directors as to the value of the prop erty purchased or services rendered shall be conclusive.
 ARTICLE ".
 The time of the commencement of this corporation shall be the time when these articles are filed in the office of the County Recorder of Gila County, Territory of Arizona, provided that certified copy thereof shall be filed in the office of the Territorial Auditor of Arizona; publication of said articles shall be made, and affidavit of such publication filed, in the manner and at the time required by law. The termina- tion of this corporation shall be twenty five years from and after the date of filing a certified copy of said articles in the office of the A tor of the Ter. ritory of Arizona.
 ARTICLE V.
 The affairs of this corporation shall be conducted by Board of ten direct ors elected annually by, and from among, the stockholders, but the mum Der of directors may be increased by vote of the directors, and in the event l of suck increase occurring, then such additional membership shall be filled | by the Board. The first annual meeting of stockholders for this purpose and for the transaction of such other business as may properly come before them, shall be held on the list Wednesday of February of the year 1908, and such annual meeting shall thereafter be held | ln the same day in each succeeding year.
 The officers of this corporation shall consist of President, Vice President, q Secretary and Treasurer, though the asst two offices may be held by one person. The following named persons 'hall constitute the Board of Directors intil their successors are elected:
 C. R. Westfeldt, New Orleans, La.
 Waller Bennett, Richmond, Ky.
 Lewis D. Aylett, Richmond, Va.
 Thos. Armstrong, Richmond, Va.
 Frank P. Ryan, Richmond Va.
 Johus w. Massie, Richmond, Va.
 Julius A. Hobson, Richmond, Va.
 James w. Graves, Richmond, Va.
 George J. Stoneman, Globe, Arizona.
 J. x. Porter, Globe, Arizona.
 Thereafter the Board of Directors hall be elected by the stockholders at heir annual meetings, and the follow ng named persons are hereby made and constituted the officers of this corpora ion until their successors are elected, O wit:
 James w. Graves, President, Rich. nond, Va.
 Julius A. Hobson, Vice President, Va.
 Thos. Armstrong, Secretary & Treas Ter, Richmond Va.
 The Board of Directors shall have ,ower to fill all vacancies in such Board r officers of the Company, caused by esignation or otherwise, and until their uceessors are elected and qualified such 'oard and such officers are hereby giv- n the power and authority to do and erform any and all duties usually con ected with like offices, which powers nd duties, while so acting as officers nd directors of this corporation, shall nclude the adoption of a corporate seal nd the atiixing thereof to any stock ertifeates or other instruments of 'riting winch may be issued or exc uted by them under the powers herein onferred, as well as the adoption of Il necessary Bylaws for internal con net and management of the affairs of his corporation. Meetings of the Board of Directors nay be held at such times and places s may be designated by the Bylaws r by Resolution of the Board of Di- eetors. The Bylaws may prescribe ! he number of directors necessary to Dnstitl.te a quorum of the Board of directors, which number may be less nan majority of the whole number of irectors. The Board of Directors may appoint n Executive Committee, of which laiority shall constitute quorum, ! hich Committee shall have and may ; xercise all or any of the powers of ne Board of Directors, including power , cause the seal of the corporation to C affixed to all papers that may re- :, uire it. 7
 ARTICLE VI. o The highest amount of indebtedness !, r liability to which the corporation :. nall at any time subject itself shall i. e and is hereby fixed at the sum of , l ,000,000.00.
 ARTICLE VII. f The private property of the stock I olders and directors of this corporation l nall be exempt from liability for the { ayment of corporate debts of any I mount whatsoever. [ IN WITNESS WHEREOF, the Incor- , orators have hereunto set their hands f