Arizona republican., 1912-03-27
PAGE NINE.

board of directors may determine. Provided, that all stock shall be sold for cash at not less than par.
 ARTICLE V.
 The time of the commencement of this corporation shall be at the date of the filing of these articles of in- corporation with the proper officer or officers of the state of Arizona, and the termination thereof shall be twenty-five (25) years from and after such date.
 ARTICLE VI.
 The officers of this corporation shall be a president, vice president, secre- tary and cashier. both of which last named offices may be filled by the Isame person. and such other officer or officers as the board of directors shall from time to time determine.
 The affairs of this corporation shall be conducted by board of di- rectors, which shall consist of not more than twenty (20), nor less than fifteen 1j) members.
 The first board of directors shall consist of fifteen Q5) members. but said board may. by a resolution in writing duly passed by a majority thereof, at an time increase said board of directors from fifteen O5) to twenty (2O), or any intermediate number
 The directors must be stockholders lin the corporation and shall be elected a: the annual meeting of the stock holders to be held on the third Sat urday in January of each year
 The first Board of Directors shall be selected from among the stock holders and incorpOratOrS hereof, and when so elected shall. from among their number. elect the officers of this company. and shall have the power to appoint from their number an Execu- tive Committee and such other officer CT officers as they may deem neces- .sary. vestinG in such persons all the power which they may deem ex- pedient.
 The first Board of Directors shall be elected at a meeting. the date ot which is to be designated by the incOrporators hereof.
 ARTICLE VII.
 The greatest amount of indebted ness or liability to which this cOrpo- T3IlOn Slldu dA any tllIic SuDJtNI 'N- self. over and above the amount duo depositors, is Six Hundred. Sixty-SiE Thousand. Six Hundred, Sixty-six Dol lars (s666, ,6G6GO).
 ARTICLE VIII.
 Each stockholder of this company is liable to the amount of the par value of stock owned by him. equally and ratable and not one for the Oth- CT, but for no other or greater amount. IN WITNESS WHEREOF. we have hereunto set our hands and seals this 18th day of March, A. D. 1912. R x. FREDERICkS. H J. McCLUNG. J NJ. ORMSBY- REESE M. LING. NOSE DRACHMAN. State of Arizona. County of Yavapai ss. Before me. II. 4. Cheverton, No tary Public in and for said County and State. on this day personally ap- peared R. N F'redericks. known to me to be one Of the persons whose naInu is subscribed to the foregoing instru- 1nent. and acknowledged to me that he executed the same for the purpose and consideration therein expressed. Given under my hand and official seal this 18th day of March, A. D. 1912.
 H. A CHEVERTON, CNotariaI SeaD Notary Public. My commission expires February 18th. 1916.
 State of Arizona. County of MaricOpa, ss-
 Before me. F.. ". Powers. d Notary Public in and for said County and State. on this day personally appeared IT NJ Ornsby, known to me t0 ba one of the persons whose name is subscribed to the foregoing instru- ment. and acknowledged to me that he executed the same for the purpose and consideration therein expressed
 Given under my hand and official seal this goth day of March, A. b. 1912.
 l. w. POWERS. | CNotarial SeaD Notary Public
 My commission expires February 18th. 1916.
 State of Arizona, County of Maricopa, ss. | Before me, F.. w Powers. Notary Public in and for the said County and State. on this day personally ap- Ieared Reese NJ Ling and Nose Drachman. known to me to be tho persons whose names are subscribed to the foregoing instrument. and they. and each of them. acknowledged to | me that they executed the same for the purpose and consideration therein expressed
 Given under my hand and official seal this 18th day of March. A. ID. 1912
 l.. w POWERS. | (Notarfal SeaD Notary Public. My commission expires February 19. 1916.
 State of Arizona. County of MaricOpa. Ss- Before me. F. w. Powers. Notary Public in and for said County and State. on this day personally appeared H. J. McClung, known to me to be | one of the persons whose names IS subscribed to the foregoing inStru- ment and acknowledged tO me that he executed the same for the purpose and consideration therein expressed | C.iynn under my hand and official