Bisbee daily review., 1912-10-22


powers shall be construed both as OBJ
iects and powers, and shall not be held
to limit or restrict in any manner the
powers of the corporation.
ARTICLE ln.
The amount of capital stock OF the
Corporation shall be Three Hundred
Thousand Dollars (s300,O00.OO) dl.
yided into three hundred thousand
shares Of the par value of One Dollar
($1.00) each, which when issued
shall be fully paid and worcestershire.
Said capital stock shall be issued
upon such terms and conditions and
at such times as the Board of Diree
tors may determine or prescribe; and
the same may be issued in exchange
for property, contracts, services or
other benefits of any kind or charac-
ter accruing TO the corporation, as the
Board Of Directors may in their judg.
ment determine
ARTICLE w.
The time of the commencement OF
this Corporation shall be the date
when a certificate of incorporation is
issued to said corporation by the Cor
poration Commission of the State of
Arizona, and the said corporation, I'M
less renewed, shall terminate twenty
five years thereafter; but the same
may be renewed from time to time, as
now provided by law, so as to make
the same perpetual
ARTICLE
The affairs of this Corporation snail
be conducted by a Board of nine Di-
rectors who shall be elected from
among the stockholders, annually, at
the annual meeting thereof. The an.
nual meeting of the stockholders of
this Corporation shall be held at the
principal office of the Corporation, at
Bisbee, Cochise County, Arizona, on
the third Tuesday of the month OF
November of each year, SAID directors,
when elected, shall hold office until
their successors are elected and quail.
fled, and any vacancy in the Board
shall be filed by election by the re-
naming members of the Board from
among the stockholders OF the corpor.
alton, and snail serve until their sue
cessors are elected and qualified.
The Board of Directors shall have
the power TO elect, and appoint and
define the duties of, the officers,
agents, and employees of the corpor-
alton; at any general or special meet
ing to adopt bylaws for the CORPORA
ton, and TO amend, repeal or rescind
the same. and when authorized by the
affirmative vote OF a majority of the
issued and outstanding capital stock
Of the Corporation, convey, sell, OF
otherwise dispose of all of the assets
OF this Corporation; or to lease or
mortgage all of the assets of this
company, and TO sell, convey or other
wise dispose fanny part less than the
whole of the corporate assets of this
corporation without such authority.
Until the first annual meeting of the
stockholders in 1912, or until their
successors are elected and qualified,
the following named persons snail con-
st.tute the Board of Directors of this
Corporation, viz: A L. Engels, r. F. I
Field, r. T. w. Moss, NJ. w. Mitchell
and F. L. Whiteley, and said persons I
are hereby given the power to elect
by a majority vote not more than four
additional directors if they see fit.
The persons so elected shall serve
until the first annual meeting of stock. !
holders, or until their successors arei
elected and qualified.
The officers of this Corporation shall
be a President. Vice President, Sec
Rotary and Treasurer together with
such additional officers as the Board !
of Directors may deem necessary,
provided, however, that the Offices of
Secretary and Treasurer may be held
by one and the same person.
ARTICLE vi.
The highest amount of indebtedness
10 which the Corporation shall at any |
time subject itself is Two Hundred I
Thousand Dollars $500, 0O0O0).
ARTICLE VII.
The private property OF the stock. 1
holders and officers Of this Corpora
ton shall be exempt from all and any
liability for its corporate debts.
IN WITNESS WHEREOF said cor
porators have hereunto set their hands
and executed these presents, this 18th
day of September, A. D., 1919.
a. J. BALMFORTH,
A. l. ENGELS,
y IT w Nf0SC