The copper era., 1908-06-11

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.
 g. The amount of the capital stock of this corporation shall be One Hundred Thousand Dollars tSlOO'O0OCO), divided into One Hundred Thousand (100,O0C) shares of the par value of One Dollar (s1 OO) per share to be sold and s- sued 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.
 4. 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 ma jOrity vote of the stockholders at any annual meeting. Said Dire:torS 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
 
 tai stock of this corporation shall constitute it's Board of Directors until the first Monday in August 1908, and until their succ cessors shall have been elected and qualified. viz:
 c. O. Billingsley. C. N. Catlin, W. Summers, J. T. Holman, Thos. Simpson, Harry White, Frank T. Hagerty. R. R. Ball, K. Webster F. O. Bacon, J. A. Billingsley.
 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 quorum is present shall be deemed d legal meeting and shall have the same author ity as d full board.
 ). The officers of this corporation shall con sist of President, vicc-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 annual 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 Mou- day in August, 1908, 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 tC which this corporation may subject itself is Twenty Thousand Dollars (s20.OOO.OO) : The stockholders of this corporatio and U cir private property shall be exempt from al liability ou account of the debts of this corpora | tiun.
 s. The Board Of Directors. of this corporation shall have power to establish By-Daws and tt make all needful rules and regulations for the manag cement of the affairs of the corporation and the government of it's officers and for the sale distribution aud division of water and tC determine the quantity of water to which the owner of each share of its capital stock shall bC entitled, not inconsistent with the Constitutions and laws of the United States and the Territory ! of Arizona.
 In Witness Whereof, we have hereunto se our hands and seals this 18th day of May 1908