The copper era., 1908-06-04

and selllive stock and farming implements of all kinds; to own and operate general merchant disc stores and to do any and all things and transact any and all business appurtenant or auxiliary to any of the above purposes in the Territory of Arizona or elsewhere.
 8. The amount of the capital stock of this corporation shall be One Hundred Thousand Dollars (slOO.U1O.ON) divided into One Hundred Thousand (lpo,OOC) shares Of the par value or One Dollar (s1 Jb) per share to be sold and is shed to subscribers and others under direction Of the Board of Directors, for such price as Said Board may fix, and when so issued Shall be deemed fully paid and non-assessable, 1. The business oi this corporation shall be conducted by Board of Directors consisting of eleven stockholders who shall be elected an nually by the stockholders on the first Monday in August of each year, said election 10 be held at the principal place of business named in these Articles, notice of the time and place of such meeting to be given in such manner as the Bylaws of this corporation shall desiga nate' provided, that the nember of persons con sutullns said Board may br changed by mas jority vote of the stockholders at any annual mee ting. Said Directors shall hold their office for the term of one year from the date of their election aud until their successors shall have been elected and qualified. The following named persons who are subscribers to the capi- tll stock of this corporation shall constitute it's Board of Directors until the first Monday in August, 1905. and until their successors shall have been elected and qualified. viz: (. O. Billingsley, C. \. Callin, w. Summers J. T. HOlman Thos. Simpson, Harry White Frank T. Hagerty, R. R. Ball, R R. Webster, F O. Bacon, J. A. Bflngsley.
 Vacancies on the Board shall he filled by the remaining members who shall elect persons to serve during the unexpired term. A majority of the members of such Board shall constitute quorum and any regularly called meeting at which quorum is present shall be deemel Il legal meeting and shall have the same author ity as q full board.
 ,. -She officers of this corporation shall con sist of President, yicc-President, Secretary and Treasurer and Manager and such other officers as the Board of Directors may deem necessary to conduct the business of the cor poration. All officers shall be elected annually by the Board of Directors and shall serve one year and until their successors shall have been elected and qualified. The following named persons shall constitute the officers of this cor poration until the first annual meeting of tho Directors which shall be held on the first Mon- day in August, 1908, viz:
 c. O. Billingsley, President; E. R. Webster ice-President; C. N. Catlin, Secretary aud Treasurer, and.Frauk T. Hagerty, Manager.
 6. The highest amount of indebtedness tu which this corporation may subject itself is Twenty Thousand Dollars (s2O.OOO.OO)
 : The stockholders of this corporation and t' cir private property shall be exempt from all Ii bill account of the debts of this corpora tinn.
 s. The Board o Directors of this corporation shall have power 10 establish By-Daws and to ma ke all needful rules and regulations for the management of the affairs of the corporation and the government of it's officers and for the sale, distribution and division of water and to determine the quantity of Water to which the owner of each share of its capital stock shall be entitled, not inconsistent with the Constitutions and laws of the United States and the Territory 1 of Arizona.
 In Witness Whereof, we have hereunto set our hands and seals this 18th day of May, 1908