Bisbee daily review., 1909-04-04

buy, sell and deal in mortgages. notes, and obligations of every nature and description; to lend money and to borrow money. and to mortgage. pledge or hypothecate it's property or any part thereof; to issue its own notes. bonds and obligations of every kind
 ARTICLE III
 The amouSnt of the capital stock of this corporation authorized. is Twenty-Five Thousand Dollars ($25,- 00O) divided into two hundred and fifty shares of the par value of one hundred dollars each. and the time when and the conditions upon which it is 10 be paid in shall be as pre- scribsd by the Board Of Directors of this corporation that stock of this cor poration may be issued in payment for property, rights or privileges. or ser vices and the judgement of the diree' tors, as to the value thereof. shall in the absence of actual fraud. be con elusive.
 ARTICLE ". The tine os the commencement of this corporation shall be upon the filing of a copy of these articles. cer- tified to by the County Recorder, of Cochise County. Territory of Arizona, in the office of tpe Territorial Auditor of said Territory .anG it's termination shall be twenty-five -Iars thereafter. ARTICLE V. The affairs of this corporation shall be conducted by a board of three di- rectors who shall be elected by the stock holders at their annual meeting, which shall be on the first Monday in March of each year. The officers Of this corporation shall be president. vice president. secretary and treas urer, who shall be elected by the di- rectors from among themselves. i'm medlately after the election of such directors each year. No person shall be eligible as director unless he is a bona fide stockholder of this corpora ton. Said directors and officers shall hold office for one year, next ensuing their election. and until their successors are elected and qualified. The board of directors shall have power to fili vacancies occurring on the board of directors, or among the officers of the corporation.
 The board of directors shall have power to adoDt bylaws for the gov ernment of this corporation. not i1- consistent with these articles or the laws of the Territory of Arizona, and amend the same.
 The directors for the first year and until their successors are elected and qualified are A. l.. Townsend. Charles s. Wood. and s. D. Town send. and the officers for the first year. and until their successors are elected are as follows: Charles s. Wood. president. s. D. Townsend. vice president, 4. L. Townsend. sec retary and treasurer.
 ARTICLE VI. The highest amount of indebtedness or liability to which this corporation the sum of fourteen thousand dollars (s14.000).
 ARTICLE VII.
 The private property of the stock holders of this corporation shall be exempt from the corporate debts or liabilities of every kind, of this cor poration.
 IN WITNESS WHEREOF, we have hereunto set our hands and seals this 24th day of March. 1909
 A. Is lON W AN . C<.s tJ.
 2. D. TOWNSEND. Territory of Arizona, County of Co
 chise, ss,
 Before me, George H. Neale. 9 Notary Public, in and for the County of Co chise, Territory of Arizona. personally appeared, A. L. Townsend and s. D. Townsend known to me to be the per sons who are subscribed to the fore going instrument, and each acknowl. edged to me that he executed the same for the purpose and considera- tioi, thaT"in expressed.
 Given under my hand and seal of office this 2fth day Of March, 1909
 My commission expires the 9th day of February. 1913.
 (SEAL.) GEORGE H. NEALE,
 Notary Public