Arizona republican., 1914-03-27

do under the laws of the said state of Arizona, or of any other state or territory of the United States Of America, or in the Republic of MeXi- co or any foreign country.
 ARTICLE ".
 The amount of the capital stock of this corporation shall be Seventy five Thousand Dollars (s75,000.00) divided into Seven Hundred and Fifty G50 shares of the par value of One Hundred Dollars (S100.00) each. which said capital stock shall be paid for at such times and upon such conditions as may be prescribed by the board of directors, and said board of directors are hereby author ized to issue any or all of said stock fully paid and non -assessable in con- sideration of the transfer to this cor poration of the property, businesses or rights in property or businesses of any kind and description which said corporation is hereby authorized to transact, acquire, own or deal in and each certificate of stock shall state upon it's face the number of shares represented thereby, and that the same is fully paid and non-as- sessable.
 ARTICLE V.
 | The time of the commencement of this corporation shall be the date of the filing of the articles of incorpor- ation for record in the office of the Corporation Commission in the state of Arizona, and a certified copy thereof in the office of the County Recorder of Marcopa County, said State. and the termination thereof shall be twenty-five (25) years next thence ensuing, unless the said cor ! poration be renewed pursuant to the laws of the said state of Arizona be- fore termination thereof.
 | ARTICLE VI.
 i The highest amount of indebted ness or liability for which this cor poration shall at any time subject itself shall be the amount of Fifty Thousand Dollars ($50,000,000.
 ARTICLE VII
 1 The affairs of this corporation shall be conducted and managed by board of three directors, who shall be stockholders in the corporation and in the said board shall be vest ed the corporate powers of the cor poration. The names of the persons who are appointed to serve as di- rectors of this corporation until the annual election of directors or until their successors are duly elected and qualified, are the following, to-wit: John F. Barker, E. B. Winstanley. and Irma P. Barker. all of the said city of Phoenix. Thereafter the di rectors of this corporation shall be elected by the stockholders at the annual meeting, which shall be held cn the third Monday in March of each year, beginning on the third Monday in March of the year 1915.
 ARTICLE VIII.
 TAe officers of this corporation shall be a President, Vice President, Secretary, Treasurer and General Manager, as well as such other of ficers and agents as the board of directors shall deem necessary and may create from time to time for the proper transaction of itsAbusi- ness. Until the first annual election of directors and until their sue cessors are duly elected and quali- tied the following named persons shall constitute the officers of this corporation for the first year. name ly: John F. Barker, President, and General Manager; Irma P. Barker. Vice President, and E. B. Winstan- ley, Secretary and Treasurer. Two or more of the offices of this cor poration may be held by one and the same person in the discretion of the board of directors.
 ARTICLE IE.
 The officers and directors of this corporation shall hold office for a term of one year from their election and until their successors are duly elected and qualified. Should di- rector cease to be a stockholder his office shall be declared vacant and said vacancy shall be filled for the unexpired term by the board of di- rectors, which said board shall have the power to fill such vacancy or any other vacancy among the off cers or board of directors of said corporation.
 ARTICLE x.
 The private property of the stock holders of this corporation shall be exempt from corporate debts and li- abilities of every kind for any of the debts and liabilities of this corpora ton. The capital stock of this cor poration shall be non -assessable. II ARTICLE XI.
 The board of directors shall have the power to borrow money for any purpose for the corporation, and power to authorize any officer or officers of the corporation to execute notes or coupon bonds of the corpor- ation therefor, and to secure the same by real or personal mortgage upon the properties of the corporation. and to do and perform all acts necessary in managing and carrying out the affairs and business of the corpora tion. The board of directors shall also have the power to pass bylaws and to make amendments thereto. . The said corporation shall have . power to increase or diminish it's capital stock by a majority vote of the stockholders represented at any stockholders meetings or any spe- cial meetings of the stockholders. called for that purpose, and in ac- cordance with the laws of said State of Arizona.