Bisbee daily review., 1908-08-20

tai stock to be issued ony as fully paid and non-assessable, and in the discretion of the Board of Directors and in the absence of actual fraud said eapi.a, stock may be issued as fully paid in exchange for property both real and personal, and for differ ent classes and kinds of business and the good will thereof, conveyed or | transferred to this corporation. ARTICLE V. The existence Of this corporation shall begin immediately after the re cording of these articles of incorpora- | ton in the office of the County Re eorder of said Cochise County, Arizona, and the filing of certified copy there of in the office of the Territorial Aud itor of said Territory, and shall con tinue for period of twenty-five (25- years thereafter.
 ARTICLE VI. The affairs and business Of this cor lporation shall be conducted by a Board of Directors consisting of six persons who shall be shareholders of the stock of this corporation The first Directors of this corporation shall be W. k. Harrison, Charles Prahl, F. A Toyrea, August Johnson, George Buxton and J. C. Lanham, who shall hold office until the election and qual- ification of their successors, who shall be elected at the first annual meeting of the stockholders, which annual meeting shall be held each year on the First Monday in August at 2 o'clock p. m. at the office of this cor poration in said city of Bisbee.
 Tine Board of Directors shall have power to fill any vacancy occurring in their number at any time. The officers of this corporation shall be a President, Vice President. Secre- tary and Treasurer and such other mi nor officers as the Board of Directors may from time to time deem it ad- visable to have.
 More than one of said above men toned officers may be held by one ana the same person.
 ARTICLE VII.
 The President, Vice President, Sec .retary and Treasurer for the first term and until their successors are elected and qualified shall be elected by the above named Board of Direst- .ors, from their number, at their first meeting after the legal organization Of this corporation and thereafter such officers shall be elected annually by the Board of Directors from their own number at their first meeting follow ing the annual election of such Board.
 ARTICLE VIII.
 The highest amount of indebtedness or liability to which this corporation is at any time to be subject shall not exceed the sum of Sixty-six Thousand (S66,000) Dollars.
 ARTICLE TX.
 The Board of Directors shall adopt Bylaws for this corporation which may be repealed or amended by said Board at any meeting of said Board or by a two-thirds vote Of the stock lat a regular stockholders meeting.
 ARTICLE x.
 The private property of the stock holders and officers of this corpora ton shall be exempt from all liability for the corporate debts of this cor pOration.
 IN WITNESS WHEREOF, We have hereunto set our hands and seals this 10th day of August, 1908.
 E.. A. iON hEA,
 CHAS. H. PRAHL,
 J. c. I4ANHAM, w. F. HARRISON,
 GEORGE BUXTON,
 AUG JOHNSON.
 Territory of Arizona,)
 )ss.
 County of Cochise. )
 Before me, E. G. Strickler, a Notary Public in and for the County of Co chise, Territory of Arizona, on this, 10th day of August, 1908, personally W. 2. Harrison, Charles Prahl, F. 4. Tovrea, August Johnson, George Buxton and J. c. Lanham, known to me to be the persons whose names are subscribed to the foregoing instrument and each acknowledges to me that ne executed the same for the purpose and consideration therein expressed.
 Given under my hand and seal tais. 10th day of August, 1908.
 (SEAI.) E. s. STRICKLER,
 Notary Public Cochise County,
 Territory of Arizona. My commission expires May 7ih,