The copper era., 1908-06-25

and sell live stock and farming implements of all kinds; to own and operate general merchant disc stores and to do any and all things and 1 transact any and all business appurtenant or auxiliary to any of the above purposes in the Territory of Arizona elsewhere.
 g. The amount of the capital stock of this corporation shall be One Hundred Thousand Dollars (sl0OOOO.OO), divided into One Hundred Thousand (lOO,OOO shares of the par value of One Dollar ts1 .OO) per share to be sold and is- sued to subscribers and others under direction of the Board of Directors. for such price said Board may fix, and when so issued shall be deemed fully paid and dnon-assessable. 1. The business Of 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 to 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 desig- nate, provided that the number of persons con stitutiug said Board may be changed by jorty vote Of the stockholders at any annual eting. Said Directors shall hold their office for the term of one year from the date of their election and until their successors shall have been elected and qualified. The following named persons who are subscribers to the capi- tai stock of this corporation shall constitute its Board of Directors until the first Monday in August, 1908. and until their successors shall have been elected and qualified. viz: | (. O. Billingsley, C. N. Catlin, W. Summers, J. T. Holman Thos. Simpson, Harry White, Frank T. Hagerty, R. R. Ball, R k. Webster, F. O. Bacon, J. A. Billngsley.
 Vacancies on the Board shall be filled by the remaining members who shall elect persons to
 
 of the members of such Board shall constitute quorum and any regularly called meeting at which quorum is present shall be deemed q legal meeting and shall have the same author ity as a>fufr board.
 5. The officers of this corporation shall COL sist of President, vicc-President, Secretary and Treasurer and Manager and such other officers 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 the Directors which shall be held on the first Mon day m August i9OS VIZ:
 c. O. Billingsley, President; R. R. Webster, Vice President; c. N. Catlin, Secretary and Treasurer, and Frank T. Hagerty Manager. | 6. The highest amount of indebtedness to which this corporation may subject itself is Twenty Thousand Dollars 20,OOO.O0) ' The stock holders of this corporation and tteir private property shall be exempt from all liability account of the debts of this corpora tiou.
 s. The Board oi Directors of this corporation shall have power to establish By-Daws and to make all needul 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 it's capital stock shall be entitled, not inconsistent with the Constitutions and laws of the United States and the Territory of Arizona.
 In Witness Whereof, we have hereunto set our hands and seals this 18th day of May, 19OS