Arizona republican., 1914-08-27

to. transact it's business in such other place or places in said Territory as the Board of Directors may here after from time to time designate.
 ARTICLE II.
 The general nature of the business proposed to be transacted by this corporation and in which it is to en- gage is that of doing a general hard ware and implement business, buying and selling all kinds of merchandise and real and personal property of every kind and character and descrip- tion; borrowing money and contract ing to pay the same at such time or times and at such rate of interest as it's Board of Directors may deem ad- visable, and to secure the payment of the same by mortgage, pledge, or otherwise, on any or all of the prop erty of the corporations; and to trans act any and all kinds of business that may be transacted by a natural person
 ARTICLE III.
 The amount of the capital stock authorized by this corporation is Fifty Thousand Dollars ($50,0OO) It shall be divided into five hundred (500) shares and the par value of each share shall be One Hundred Dollars ($100O. The times when and the conditions upon which it shall be paid are as follows; The whole thereof within thirty (3O) days after the same has been subscribed for, provided that the Board of Directors of said Company may accept mer- chantable hardware at such prices as they may deem proper in part or full payment for any subscription to the stock of this corporation.
 ARTICLE W.
 The time of the commencement of this corporation shall be the 18th day of March, 1907, and it shall endure for period of twenty-five (25) years thereafter. And said corporation shall commence the transaction of the business for which it is incorporated as soon as ten per cent of the capital stock has been subscribed for.
 ARTICLE V.
 The affairs of this corporation shall be conducted by a Board of Directors consisting of three stockholders who shall be elected annually by the stock holders from among their number al the annual election thereof to be held in the office of the Company al Phoenix, Arizona, on the first Tues day in November in each year here after at the hour of 10 o'clock A. M. and until the first annual meeting ol said stockholders, the following nam ! ed persons who are subscribers t( the capital stock of this corporation shall constitute the Board of Direc. 1 tors, namely: J. B. Long, J. w. Lons and M. West.
 ARTICLE VI.
 | The officers of this Corporation shall be a President, Secretary ana Treasurer. and such other officers al may be provided for by the bylaws The President shall be elected by th' Board of Directors from among thei number annually immediately afte the annual meeting of the stockhold CTS. The other officers shall be elect ed by the Board at such time an' place as they shall designate, bu such other officers need not be mem bers of the Board of Directors. The Directors and officers of thi corporation shall hold their respectiv offices for one year from the date o 1 their election and until their success ors are elected and qualified unles such director or officer shall cease t be a stockholder in the corporation and in any such case such director o officer shall cease to be a directo or officer in the corporation fror the date he ceased to be stockholde therein: provided. that all officer whe are appointed by the Board ma
 be removed by them at their pleasure