The Holbrook news., 1909-07-23

That we, the undersigned, have this
 day associated ourselves together for
 purpose of forming a corporation under
 the laws of the Territory of Arizona,
 and for that purpose do adopt, execute
 and acknowledge the following articles
 of incorporation,
 FIRST. The name of this corporation
 shall be ''The Merchants and Stock
 Growers Bank of Holbrook, Arizona.
 SECOND. The names of the incorpo-
 rators are G. T. Cline, John R. Hulet,
 Adolf Schuster, Robert Scott and H.
 H. Scorse.
 THIRD. The Principal place in which
 thebusiness of the corporation is to be
 carried on is at Holbrook, Navajo
 County, in the Territory of Arizona,
 but the corporation may have branch
 offices and places of business at such
 other places in Arizona as may be de- . termfhed by the Board of Directors.
 FOURTH. The general nature of the %business proposed to be transacted by
 the corporation is that of a general
 banking busin ess. It may buy, sell
 and deal in exchange of all kind; itmay
 own, acquire, hold and sell such real
 estate as the Directors may deem ad
 visable in the transaction and carrying
 on of a general banking business; it
 may issue notes, bonds and other evil
 dence of indebtedness and secure the
 payment of the same by mortgage or
 otherwise; it may act as administrator executor, receiver, trustee or in any other fidiciary capacity and do gener- al trust business; it may receive money on deposit, payable on demand or at a definite period, and may if the Board of Directors so determine pay interest on term deposits; it may acquire its own or the capital stock of other cor porations; it may borrow and loan mon- ey, buy, sell, discount, pledge, hold and deal in all kinds of negotiable or other paper, including promisory notes, bills of exchange, mortgages, stocks, bonds city, school, county, Territorial and other warrants; it may buy, sell and deal in gold, silver, bullion and ores; it may loan money on personal security | or on collateral, or on real or personal | property as may be determined by the Board of directors, and may do any and all things necessary or advisable in the transaction and carrying on of a gen eral banking business, or incidental thereto, as fully and completely as a natural person might or could do.
 FIFTH. The authorized amount of cap ital stock of this corporation shall be Fifty Thousand $50, ,OOO.OO) Dollars, and shall be divided into five hundred (500) shares of the par value of One (s1OO.OO) Dollars each; all of said stock shall be fully subscribed for and Twenty Five Thousand 1925, OOO.OO) Dollars thereof shall be actually paid into the corporation before the corpo- ration begins the transaction of busi- ness. The remaining Twenty-Five Thousand (25, ,OOO.OO) Dollars of said { capital stock shall be paid in at such l times as the Board of Directors may I ,all for the same; all said capital stock shall be paid for in cash, or it's equiva- ent at not less than its par value. SIXTH. The affairs of said corpora I jon shall be conducted dy d Board of ( Directors consisting of five persons. I Until the first Tuesday after the first Monday in January, 1910, the follow ng named persons shall constitute the Board of Directors of this corporations: ,. T. Cline, John R. Hulet, Adolf ! Schuster, Robert Scott and H. H. = 'corse.
 The stockholders of this corporation a hall hold an annual meeting on the Il irst Tuesday after the first Monday !, n January, 1910, and annually there fter, and at such annual stockholders leetings Board of Directors shall be r lected to hold office for the ensuing f ear. h EVENTH. The Board of Directors t f said corporation shall elect Presi- ent, a Vice-President, a Secretary nd Cashier, and such other officers p s may be provided in the bylaws. u uch officers shall hold office until the t lection of the next Board of Directors ie t the next annual stockholders meet lg and each successive Board of Di- ectors shall elect the foregoing officers. Il IGHT. The time of the commence W lent of this corporation shall be the W ate of the filing of certified copy of tC lers Articles of Incorporation in the