Arizona republican., 1907-09-01

l the Board of D1rectOrS may De neiu : and the corporation may have such branch offices. either within or without inc Territory of Arizona and in for eisn countries as may be estaolisheo bv inc Board of Directors.
 | SECOND: The general nature of the business proposed to be transacted by this corporation is as follows. to-wit: To make contracts; to purchase, lease. bond. locate or otherwise &C., ouire. own. exchange. sell or otherwise dispose of, pledge, mortgage, hypothe- cate and deal in real estate, ineiuding timber, rubber, agricultural, grazing and other lands and any and all klnds of personal, stocks and bonds or other corporations, mines, mining claims, oil lands. mineral lands. oil. gas asphalt nm. petroleum, asbestos, salt and wa fer rights. and install machinery to work. mine, explore and operate the same and to prepare their products for market: to build and operate factories and railroads; to navigate rivers, ports and seas; to conduct a banking busl- ness under any rights or franchises which may be acquired from any state ! or government; to take out, acquire. own and control or dispose of letters patent, patents and inventions ana trade marks and copyrights; and in general to engage iE any lawful busi- ness and do all things necessary to the proper conduct of the affairs of this corporation in the Territory and else where, not inconsistent with the laws of the United States and the Territory | of Arizona.
 THIRD: The authorized amount of capital stock of this corporation shall be Twenty Million Dollars (s20, 0,0oo.0O0). divided into Two Hundred Thousand shares of the par value of One Hundred ! Dollars Cs100) each; thirty thousand of ! which shares may be preferred as to liquidation, and issued as the Board Of 1 Directors may prescribe. At such times as the Board of Directors may by resolution direct. said capital stock shall be paid into this corporation, either in cash or by the sale and trans fer to it of real or personal property. for the uses and purposes of said cor poration in payment for which, shares of the capital stock of said corpora ton may be issued; and the capital stock so issued shall thereupon and thereby become and be fully paid up and non-assessable; and. in the ab- sense of actual fraud in the transac tion. the judgment of the Directors as to the value of the property purchased shall be conclusive. FOURTH: The time of the com mencement of this corporation shall be the date of the filing of these Articles of Incorporation in the office of the County Recorder. and the termination thereof shall be twenty-five years thereafter.
 FIFTH: The affairs of this corpora tion shall be conducted by a Board of not less than three, nor more than seven Directors and the above named lincorporators shall constitute the Board of Directors until their successors are elected. Thereafter. the Board of Di- rectors shall be elected from among the stockholders on the second Wednesday of January each year. Any vacancy in the Board may be filled by the re- maining Directors by appointment from among the stockholders. and an executive committee of not less than two nor more than five may be appointed by the Board of Directors with such power as the Board may prescribe. Within a req sonable time after the election of any Board of Directors, they shall meet at the New York office of the company and elect the officers Of the corporation, who shall be a President, Vice Presi- dent. Secretary and Treasurer, and ap- point such other minor officers or agents as the Board may deem necessary: the office Of Treas urer may be filled by person holding any other office. The officers of the corporation until their successors are elected shall be, John Madigan, Pres ident and Carlos E. Estarnez, Secretary and Treasurer.
 SIXTH: The highest amount of in debtedness or liability direct or con- tingent, to which this corporation is to be at any time subject shall be Five Million G5.000O00 Dollars, which amount does not exceed two-thirds the amount of the capital stock.
 SEVENTH: The private property of the stockholders of this corporation shall be exempt from corporate debts of any kind whatsoever.
 IN WITNESS WHEREOF, We have hereunto set our hands and seals this Ith day Of February, 1907.
 JOHN MADIGAN (SeaD
 DANA A. ROSE (SeaD
 CARLOS E. ESTARNEZ (SeaD State of New York,
 County of New York, ss.