Holbrook argus., 1911-05-30
such conditions as they may prescribe.
 ARTICLE V.

ARTICLE V.
 The time of the commencement of this corporation shall be the date of the filing of the certified copy of it's articles of incorporation in the office of the Territorial Auditor, and the termination shall be twenty-five years thereafter, but it's charter may be re- newed as provided by law
 ARTICLE VI Its business shall be conducted by hoard of directors of not less than four or more than fifteen, who shall be elected at the annual meeting of the stockholders, which shall be held on the second Monday of April of each year. The following named per sons shall act as board of directors until the annual meeting and until fled: Edward 4. Sawyer, William H. Burbage, George F. Gardiner, William Olander.
 ARTICLE VII
 Sec. The board of directors shall have power to hold any meeting and trans act any and all business for the comp pany at any place or time within the Territory of Arizona or elsewhere. The board shall have power to esta blish and adopt by laws and by majority vote may amend or change them, and make lac Ia4 necessary and useful for the manage ment of its business not inconsistent with the laws of the Territory of Ari- zona and of the United States. The board of directors shall have full pow CT to manage all the affairs of the cor poration.
 Sec. ? To fill vacancies in the board and from their own number shall elect an executive committee, and vest such committee with such powers as may be by them delegated. The officers of the executive committee shall be president, vice president, secretary and treasurer.
 ARTICLE VIII.
 The articles of incorporation may be amended or changed by giving of fif- teen days written notice to each stock holder of record. Said notice to give the time and place of holding the an- nual or special meeting and to recite the proposed amendment or change. A majority vote of the stock at any annual or special meeting shall con- trol; each share of stock being entitled to one vote.
 ARTICLE K
 The highest amount of indebtedness or liability to which the corporation is to be at any time subject shall not in the aggregate exceed the total amount of it's authorized capital.
 ARTICLE K
 The private property of the stock holders shall be forever exempt from from liability of all corporate debts. IN WITNESS WHEREOF we have affixed our signatures and seals the 12 day of April, A. D. 1911.
 
 [sEALl E. A. SAWYER.
 [sEALl VIII. BURBAGE. TERRITORY OF ARIZONA County of Navajo
 Before me, R. c. Kaufman, Notary Public in and for the said County and Territory of Arizona on this day per sonalIy appeared Edward A. Sawyer William H. Burbage. to me known to be the persons who subscribed to the foregoing articles of incorporation, and acknowledged to me that they ex- ecuted the same for the purpose and consideration therein expressed.
 Given under my hand and seal of office, this 12th day of April, A. D. 1911. R. c. KAUFMAN,
 Notary Public. My Commission expires Decem Der 2, 1913.
 Filed and recorded at the request of w. H. Burbage, April 14, 1911, at a.m., and duly recorded in Volume of Ar ticles of Incorporation, on pages Nos. 240, 241, PAP, and 243, Records of Navajo County, Arizona. c. HESS, JR,
 Recorder. By 0. M. c Houck, Deputy.