Arizona republican., 1908-05-01

tiOns therefor; may carry on any busi-
 ness or operation deemed advanta-
 geous, incidental or accessory to the
 exercise of any of said powers and ob-
 jects, and may exercise any or all of
 said powers, and may engage in any
 and all classes of business that na-
 tural person might or could. in the
 United States and in any part of the
 world.
 The corporation may purchase. ac- quire, hold and dispose of, the stock,
 bonds and other evidences of indebted ness of any corporation, domestic or
 foreign. and issue in exchange therefor
 its stock, bonds or other obligations.
 The foregoing expressed powers here Q
 by conferred are in furtherance and not in limitation of the powers created by
 statute. and the enumeration thereof shall not be held to limit or restrict in
 any manner the powers of the corpora
 tion and the corporation may doi all
 things necessary to the proper conduct
 of it's business 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 five million dollars ($5.OO0, ,0O0) di-
 vided into five million shares of the par value of one dollar &1OO) each. At
 such time as the Board of Directors
 may by resolution direct, said capital stock shall be paid into this corpora tion, either in cash or by the sale and ! transfer to it of real or personal prop
 erty for the uses and purposes of said corporation, in payment for which shares of the capital stock of said cor poration 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 absence
 of actual fraud in the transaction the judgment of the directors as to the val ue of the property purchased shall be conclusive.
 FOURTH: The time of the com mencement of this corporation shall be i 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 with the privilege of renew al as provided by law
 FIFTH: The affairs of this corpora tion shall be conducted by board Of not less than three nor more than seven directors and the following named shall constitute the Board of Directors until
 their successors are elected: Henry k. Hess. Richard Plechner and William Bromer. Said directors may elect from among the stockholders other directors to serve with them for the same time,
 until the number of directors shall reach seven. Thereafter the Board of
 Directors shall be elected fuom among the stockholders on the first Monday in March of each year begin
 ming in the year 1909. The officers of said corporation until their successors are elected shall be: Henry K. Hess, president; William Bromer. vice presi- dent; Richard PIechner, secretary and treasurer.
 SIXTH: The highest amount of in debtedness or liability, direct or con- tingent, to which this corporation is at any time subject shall be two million i six hundred and fifty thousand dollars ($2650, ,000), 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