Arizona republican., 1913-09-07

ized capital stock. and receive in pay ment therefor money or real or person. al property, or services, the value of which property or services shah be de- termined by the Board of Directors. and in the absence of fraud the iudg- ment of such board shall be final as to such value; and when the par value of such stock has been so paid, the same shall be deemed fully paid and non-assessabIe; Do any and every other act and thing necessary, proper or incident to it's said business, or the attainment of it's cor porate objects and purposes, the same as q natural person might do; and transact any such business both as principal and agent
 3. The amount of the authorized capital stock of this corporation is one Mil lion Dollars, divided into Ten Thousand Shares of one Hundred Dollars each: and the same shall be issued when : subscribed and paid for with money property or services at it's par value upon such orders as the Board of Di- rectors shall make, such board to determine the value of any property or service given in exchange for such stock.
 1. The time of the commencement of this corporation shall be the day on which the certificate of incorporation is issued to it, and the termination shall be twenty-five years thereafter: but it's existence may be extended for a like term according to law i !. The affairs of the corporation shall be conducted bY q Board of Direc- tors. consisting of five members who shall be stockholders. and who shah be chosen yearly at the annual meeting of the stockholders, to be held on the first Monday in April; and the number of l directors may be increased to not ex- ceeding nine by the vote of q majority of the outstanding capital stock at any regular or special meeting of the stockholders: and until such election is held, Laurabel Hageman. Iona i Wright, Unice Franklin, John R Scott and H NJ, Davenport shall constitute such Board of Directors The other officers shall be such as may be pro vided by the bylaws The Directors. without consent of the stockholders. shall have power to adopt. amend and repeal by-laWs; to fill all vacancies in office. including vacancies in such
 
 remove any officer for cause. to cstab- ! fish q reserve or working capital and to carry on generally the business of the corporation. including the issuing of the notes and bonds of the corpora i tion, and the execution and delivery of mortgages and deeds of trust upon it's I property.
 6 The highest amount of indebted ! ig G1. fP1o mt l to which the corporation is at any time to subject itself is Six Hundred and ! Sixty Thousand Dollars
 ' The private property of the stock i holders shall be exempt from the cor i porate debts of the corporation of every 1 kind at all times.
 WITNESS the hands of the corpora ! tors this twenty-seventh day of August A. D. 1913.
 JNO F. SCOTT.
 H NJ DAVENPORT State of Arizona.
 Maricopa County,-ss.
 Before me IT. H. Howard, a Notary Public in and for said Maricopa county, State of Arizona, on this day person ! ally appeared John R Scott and II NJ. Davenport. known to me to be the per sons whose names are subscribed to the foregoing instrument and acknowl- edged to me that they executed the same for the purposes and considera- tion therein expressed
 WITNESS my hand and Notarial seal this 27th day of August, A. D 1913.
 (SeaD II H HOWARD.
 Notary Public My Commission expires February IT,