Bisbee daily review., 1913-12-24

 in bonds. stocks and securities of every nature and description, including its own; to borrow money. pledge and hy- pothecate its property. or to pledge and hypothecate any part thereof; to issue its own notes of every nature and description; and to engage in and do all acts and things, which may not be inconsistent with law, in any part of the world, as the Board of Di. rectors may deem proper.
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 The amount of capital stock of this corporation is Two Million Five Hun. dred Thousand Dollars (S2, ,500, GOO. .0O) divided into Five Hundred Thousand (50O.0OO) shares of the par value of Five Dollars (S500) each. The time when and the conditions upon which the said capital shall be paid in shall be as prescribed and authorized by the Board of Directors of the said corpor- ation, provided that stock of this cor poration may be sold for less than par value at the discretion of the Board of Directors and may be issued in pay ment fer and of property, rights, or services. and the action of the said Board of Directors shall in the absence of actual fraud be conclusive and all shares of capital stock, when issued in exchange for privileges or services, shall thereupon be considered full paid, the same as if cash had been given for them and shall be non-assessable forever.
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 The time of the commencement of this corporation shall be the day these Articles are filed and approved in ac- cordance with law and the termina- tion thereof shall be twenty-five years thereafter, with the privilege of renewal and the right of perpetual succession as now provided by law. VI.
 The affairs of this corporation shall be conducted by a Board of Directors, consisting of not less than three nor more than fifteen persons, who, ex- cept the first Board of Directors. shall
 
 annual meeting. which shall be held on the first Saturday in November of each year. The officers of this corpor- ation shall be a president, vice pres ident, a secretary and a treasurer. who shall be elected by the Board of Directors from among their number, immediately after the election of such Directors each year. The offices of secretary and treasurer may be held by one and the same person. No per son shall be eligible as a Director un- less a bona fde stockholder. The said officers and directors shall hold office for one year (unless re- moved for good cause) and until their successors are elected and qualified. The Board of Directors shall have power to fill vacancies occurring on such Board or amongst the officers of the said corporation and the said Hoard of Directors shall have power to adopt Bylaws for the government of the said corporation, not inconsist. , ent with these Articles and the laws of the State of Arizona.
 The directors of this corporation who shall hold office until the first annual meeting of the stockholders and until their successors are elected and qualified are Bert Farmer, J. o. BIoomquist. Lee s. Goble. F. E. Cos grove, ". R. Tonkin. ]. L. Staley ! and F. D. Lane and the officers of this corporation, who shall hold office un- til the election of Board of Directors by the stockholders at their first an- nual meeting and until their success sors are duly elected and qualified are Bert Farmer. President; F. D. Lane. vice-President, and Oscar BIoomquist. Secretary-Treasurer. VII.
 Tie highest amount of indebtedness or liability to which this corporation may ct any time subject itself is the ssurn of Five Hundred Thousand Dol