The copper era., 1908-06-18

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 transact any and all business appurtenant or auxiliary to any of the above purposes in the Territory of Arizona or elsewhere.
 B. The amount of the capital stock of this corporation shall be One Hundred Thousand Dnllsrs (SIOOO1O OO), divided into One Hundred Thousand (100,ooD shares of the par value of One Dollar (s1 Oo) per share to be sold and is- sued to subscribers and others under direction of the Board of Directors. for such price as said Board may fix, aud when so issued shall be deemed fully paid and non -assessable
 4. The business oT this corporation shall be conducted by Board of Directors consisting of eleven stockholders who shall be elected nually by the stockholders on the first Monday in August of each year, said election to be held at the principal place of business nained 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 sttutiug said Board may be changed by jority vote Of the stockholders at any annual nee ting. 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 l tal stock of this corporation shall constitute its Board of Directors until the first Monday in August, l9Os. and until their successors shall have been elected and qualified, viz: C. 0. Billingsley, C. N. Catlin, w. Summers, J. T. Holman Thos. Simpson, Harry White, Frank T. Hagerty, R. R. Ball, R R. Webster, | F. O. Bacon, J. A. Billngsley.
 Vacancies on the Board shall be 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 a quorum and any regularly called meeting at which a quorum is present shall be deemed a legal meeting and shall have the same author ity full board.
 ,. The officers of this corporation shall con sst of President. vce-Presideut, 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 anG 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 Mou day in August,-19O viz:
 C. O. Billingsley, President; R. R. Webster Vice President; c. N. Catlin, Secretary aut Treasurer, and Frank T. Hagerty, Manager.
 6. The highest amount of indebtedness \ which this corporation may subject itself i Twenty Thousand Dollars (S20, ,OOOOO)
 : The stockholders of this corporation an, ti cir private property shall be exempt from al liability on account of the debts of this corpora ton.
 s. The Board oi Directors of this corporation shall have power 10 establish By-Daws and t make all needful rules and regulations for th management of the affairs of the corporation and the government of it's officers and for thu , sale, distribution and division of water and t determine the quantity of water to which thu owner of each share of its capital stock shall b entitled, not inconsistent with the Constitution and laws of the United States and the Territor D of Arizona.
 In Witness Whereof we have hereunto SC our hands and seals this 18th day of May, 190S