Weekly journal-miner., 1910-07-20

ment of the Board of Directors as to the value of any such property, contracts, services or benefits shall be conclusive upon all parties in inter est.
 ARTICLE V.
 The time of commencement of this corporation shall be the day upon which these Articles of Incorporation are filed record in the office of the County Recorder of Yavapai County. Territory of Arizona, and certified copy thereof filed with the Auditor of said Territory, and the time of the termination of the existence of this corporation shall be, unless re- newed Twenty-Five (25) years there after, provided however, that such term may be renewed from time to time and in such manner as may now or hereafter be provided by law, so as to make such existanee perpetual
 ARTICLE VI.
 The management and control of the business, property and affairs, of this corporation shall be vested in and controlled by a Board of Directors of not less than three or more than seven stockholders, of the company All Directors, except the first Board, which is named herein, and in case of vacancies shall be elected for the term of one year, at the annual stock holders meeting except as hereinafter provided which shall be held at the Company's office at Prescott Ariz- ona on the first Wednesday in June of each year, or at any other office of the Company, permitted by law.
 The Directors shall hold office until their successors are elected and qual- flied, and any vacancy in said Board shall be filled by election by the remaining members of said Board from among the stockholders of the corporation. The Board of Directors shall have power to estab- fish bylaws and make any and all rules and regulations necessary for the conduct and management of the affairs of the corporation not incon- sistent with the laws of these Arti- eles.
 Until the first annual meeting of the stockholders, or until their sue eessors have been elected and qual- flied, the Board of Directors of this corporation shall consist of Max Wenzel, Joseph Dougherty and A. L. Hammond.
 The officers of the corporation shall be President, Viee-President, Secre- tary and Treasurer, together with such other additional officers as the Board of Directors may deem necessary for the proper transaction of the business of the corporation. All off, eers except those herein named, shall be elected by the Board of Directors for the term of one year, from among the stockholders of the corporation, at the annual meeting of said Board which shall be held as soon as practicable after the annual Stockholders meeting, and until their successors shall be elected and quali- fed the following persons shall con stitute the officers of said corpora tion: Joseph Dougherty, President; Max Wenzel, Vice President and Treasurer; A. L. Hammond, Secretary.
 The membership of the Board of Directors may be increased to any number not exceeding seven, by action of the Stockholders at any annual meeting or at any special meeting called for that purpose.
 ARTICLE VII.
 The highest amount of indebted ness or liability, direct or eontin- gent, to which this corporation may at any time subject itself, is the sum of One Hundred Thousand (sIOO,- OO0.O0) Dollars.
 ARTICLE VIII.
 The private property of the Stock holders of this corporation shall be and is hereby made forever exempt, from any and all liability, for it's corporate debts and obligations.
 In Witness Whereof, we have here unto set our hands this 4th day of July, A. D. 1910.
 MAX WENZEL,
 T. uAAnEnNrn