Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1913-03-09


when issued in exchange therefor
shah thereupon become and be full
paid the same as though paid for in
eaSn at par, and shall be noon-assessa.
be forever, and the Judgment of the
Directors as to the value of any prop
erty right or thing acquired in ex
change for Capital Stock shall be
conclusive.
ARTICLE w.
That the time of the commence
ment of the corporation shall be the
date when these Articles are filed and
recorded in accordance with law. and
the termination thereof shall be
twenty-five years thereafter, with
privilege Of renewal as now provid
ed by law.
ARTICLE V.
That the affairs 81 this corporation
shall be conducted by Board OF not
less than three nor more than seven
Directors, by whom a President. Vice
President Secretary and Treasurer
shall be elected The Directors shall
be elected at the annual meeting OF
the Stockholders on the 25th dav Of
February OF each year, and in case
the said date shall fall on a Sunday
or Holiday, then the sa.d meeting
shall be held on the next day follow
ing said Sunday or Holiday. Until
their successors are elected and quail
flied, the following named persons
shall be the Directors for the first
years: James Letson, Harry Jennings
aid John NJ. MeGregor: provided,
however that at the first meeting Of
the Board of Directors, or any ad.
journment thereof, the number of said
Directors may be increased to five.
and the vacancies in such Board filled
by the three Directors herein named.
and also that at any annual meeting
OF the Stockholders of shis Company.
the number Of Directors nay be in
creased or diminished within the lin
its hereinbefore named. The officers
Of tho Company for the first year
shall be, James Letson. President and
General Manager: Harry Jennings,
Vice President and Treasurer; AMI
John NJ. McGregor. Secretary.
ARTICLE vi.
That the Directors shalt adopt BY
Laws for the government of the cor
poTatioR and may amend the same.
They shall have power 10 fill vacan-
cies occurring in the Board from any
cause, and shall have power to do
every act and thing and 20 transact
any business within the power of the
corporation and to delegate such pow
or and authority as It may deem ex-
pedient to any officer or agent of the
Company, except the conveyance OF
transfer OF the entire assets of the |
company, which shall require the |
previous authorization or Subsequent |
ratification of the holders Of the ma. |
jority Of the outstanding stock OF the |
Company.
ARTICLE VII.
That the highest amount of inGebt- |
edness or liability TO which the cor
poration is at any time to subject it =
self Is the sum OF Sixty Five Thou
sand Dollars fs55 100000.
ARTICLE VIII
That the private property of the /
Stockholders, Directors. aud officers /
of the corporation shall be forever ex-
empt from corporate debts and from /
eli liability therefor
IN WITNESS WHEREOF. we have 1
hereunto set our hands this 1st day 4
of March. 1913
JAMES LETSON.
HARRY JENNINGS.
JOHN NJ. McGREGOR.
STATE OF ARIZONA,
Jss.
COUNTY OF CoCHHsE. }
Before me, Flora l.. Ward. Notary
Public in and for the Comfy OF Co /
chise, State of Arizona. on this day
personally appeared James Letson.
Harry Jennings and John AZ. McGreg-
or. known to me TO be the persons
whose names are subscribed 70 thu
foregoing instrument. and acknowt
edged to me that they executed the
same for the purpose and considera-
tion therein expressed
Given under my hand and seal Of
oalee this list day OF March, 1913 Ny
expires July 18th. 1916.
fSEAL) FLORA l. WARD,
4