Arizona republican., 1911-04-14

provided that said corporation shall also have the following powers:
 To receive deposits; to discount and negotiate promissory notes, drafts, bills Of exchange and other evidences of debt: to buy and sell exchange, coin and bullion, and to collect for others money due them on notes, checks, drafts, bills of exchange, commercial paper or other evidences of indebted ness: to act as escrow agent: to bOr- row or raise money by the issue of its notes debentures or other form of obligation. and if necessary pr advis- able, to secure the payment of the same ! hy the deposit of stock securities or other personal property as collateral for said payment, or by executing mortgages, liens or other form of se- curity on any of the property Of said corporation, real personal or mixed; | to loan money and when deemed ad- Visable to require and receive a mort gage on real property or a deposit and ! pledge Of or mortgage on personal 1 property or other property security for the payment of the same; to draw, make, accept, endorse, discount execute and issue promissory notes, l bills of exchange, warrants, bonds, debentures and other negotiable or transferable instruments; to enter into, make. perform and carry out contracts Of every kind and for any lawful pur | pose. with any firm, association or cor poration: to purchase or otherwise ac- quire. and to hold, own and enjoy, and | to mortgage. convey or otherwise dis pose of property of every kind, charac- ter and description real, personal and mixed; to purchase or otherwise ac- quire and deal in. and to hold, sell or otherwise dispose of. the shares of this or any other corporation, and to buy, sell, take. own, hold and deal in bonds, mortgages, pledges. chooses in action, | judgments, inventions trade marks, patents, licenses, privileges. options, and property of every kind and charac- ter: to install and rent safety deposit boxes, and in general to do all things necessary to the proper conduct of the business of this Corporation not incon sistent with the laws of the United States and the Territory Of Arizona ARTICLE ".
 The authorized amount of capital stock of this Corporation shall be Twenty-Five Thousand and no-1OO dol lars Cs25, ,OOOOO) divided into two hundred and fifty shares of the par value of one hundred and no-1OO dollars (s1OO.OO) each. At such time as the Board of Directors may by resolution direct, said capital stock shall be paid into this Corpora tion. either in cash or by the sale and transfer to it of real or personal prop erty for the uses and purposes of said Corporation, in payment for which shares of the capital stock of said Cor pOration may be issued, and the capital stock so issued shall thereupon and thereby become and be fully paid up and -assessable and in the ab- sence of actual fraud in the transac- ton the judgment of the Directors as to the value of the property purchased shall be conclusive.
 ARTICLE V.
 The time of the commencement of 1 this Corporation shall be the date of the filing of a certified copy of these | articles of incorporation in the office of the Auditor of Arizona, and the | termination thereof shall be twenty i five years thereafter with privilege of renewal as provided by law.
 ARTICLE VI.
 The affairs of this Corporation shall | be conducted a Board of not less | than three nor more than ten Directors, by whom a President and Vice-P Presi dent shall be elected and a Secretary | and Treasurer appointed. The directors shall be elected by and from among the stockholders on the first day of Janu ary in each year. Until their successors have been elected and have qualified, the following named persons shall be the Directors and officers: F. $. West fall. J. B. Westfall, W. F. Boiling and C. l.. Garber.
 ARTICLE VII
 The highest amount of indebtedness or liability. direct or contingent, to which this Corporation shall at any time subject itself is Sixteen Thousand dollars $16,O0OOO) which amount does not exceed two-thirds the amount of the capital stock.
 ARTICLE VIII.
 The private property of the stock holders of this Corporation shall be exempt from corporate debts of any kind whatsoever.
 ARTICLE IN.
 At any stockholders meeting of this Corporation stock may be voted by proxy.
 IN WITNESS WHEREOF, We have
 T. !