Arizona republican., 1912-01-03

derwritc contracts and obligations for rersons and corporations: to lease. option, locate, or otherwise acquire. or exchange, sell or otherwise dispos, Of. pledge, mortgage. hypothecate and | deal in personal properties, contracts Of every kind and nature, mines min ing claims. mineral land. timber lands. coal lands. oil lands. real estate. wa ter and water rights; to own, con- trol, and deal in letters. patents and | investments. and to purchase and hold its own capital stock, as well as of other corporations. and 10 vote any i stock owned by il the same as a natural person might do; to issue bonds, notes. debentures and other evidences of indebtedness. and to SC cure the payment of the same by mortgages, deeds of trust, notes or otherwise; and in general. to do such ether accounts and things. and ta transact such business not incon- sistent with law as the board of dir ectors may deem to the advantage Of the corporation.
 ARTICLE V. The capital stock of this corporation shall be Fifty Thou sand ($50.000.00) Dohars, divided into Fifty Thousand t50,O00D shares of the par value of one ($l00) Dollar each Said capital stock shall be paid into this corporation immediately upon subscription therfor. pr at such time as the board of directors may desig- nate. in money. labor. services. or any other valuable right or thing. or
 
 ierred or assigned to the corporation at valuation to be approved by the board of directors or the managing officers of the corporation as to the value thereof shall be conclusive.
 ARTICLE VI. The affairs. busi- ness and property Of this corporation shall be conducted managed and con trOlled by a Board Of Directors of not less than three (3) nor more than twenty (2D, as may from time |" time b. fixed by the Bylaws. who shall be elected from the stockholders at the annual stockholders meeting on the 18th day of January of each and every year. who shall hold of- flee for one year or until their sue cessors are elected and qualified: that ' A. Crozier. W. l.. Burt and Blain- Bowman are hereby selected to act as said directors. and to manage the af- fairs and concerns of the saiG cor nUration during the first year of its existence. and until the first annual meeting Of the stockholders. which ill be he'd on the 18th day Of Jan Uary.
 The qualifications and powers Of the directors shall be fixed, and may be increased or decreased. as may be provided, from time to time in the Bylaws
 In case of any increase in the board ot directors the additional directors shall be elected as may be provided in the Bylaws. by the directors. or Ey the stockholders at an annual or special meeting.
 The board of directors may appoint. from their number, an executive com mittce. Of which a majority shall con- stitute a quorum. and unless otherwise provided in the Bylaws. such com n.ltt.e during the recess of the board ol directors. shall have and may eX- ercise. all or any Of the powers of the board of directors. including pow er to cause the seal of the corpora ton h be affixed to all papers that nay require it
 The directors shall have power to adopt and amend By-Laws for the government of the corporation. to fin vacancies occurring in the board from any cause.
 ARTICLE VII The highest amount; of liability to which this corporation shall subject itself at any one time Ehall not bo in excess Of Twenty-Five Thousand Dollars (s25, ,0OO.O0D
 ARTICLE VIII. The private prop erty Of the stockholders and officers of the corporation shall be exempt from all corporate debts Of any kind. whatever.
 ARTICLE TX The time of the