Bisbee daily review., 1914-02-22

 has been fully paid for. When stock
 is finally issued and paid for in man.
 ner as herein provided, such stock
 shall thereupon and thereafter be for
 all purposes fully paid and nonassess-
 able stock, and it's holder shall not be liable for any debt or claim of the cor
 poration on account of holding such
 stock, to any person whomsoever.
 ARTICLE "
 The corporate existence shall com
 mence from the time of the execution
 of these articles of incorporation, and
 shall continue for the full period of
 twenty-five years thereafter. and if not
 then renewed pursuant to law, shall
 then terminate; the corporation ex. pressly reserving all existing rights to such renewal now given by law. The actual business of the corporation shall not commence. however. until 1t has fully complied with the laws rela-
 tive to the business of corporations
 and as to the time of commencement of such business by corporations. AhllSLE V.
 , The business and affairs of the : corporation shall be managed and con. ] ducted by a board of not less than , three nor more than seven directors, . which board shall be of the number I elected at the annual meetings of , stockholders to be held on the first Tuesday of March of each year, at the . office of the corporation in Benson, ; at the hour of 10 o'clock in the fore - noon of said days. Directors shall hold l office for one year and until their { successors are elected and qualify. l The first annual meeting of stock r holders for such purpose shall be held '- on the 27th day O. January, 1914. al y the hour and place above. No person |, shall be eligible to office of director h unless he is at the time of his election ! la stockholder of the corporation, nor l. shall any person continue to act as a '- director after he ceases to be a stock 3. holder therein. The officers of the d board of directors shall be a presi ,. dent, a vice-president, a secretary and v treasurer; the same person may fill s, the office of secretary and treasurer l. may be styled Secretary and Man It ager." Until their successors are y elected the following persons shall act IT as the officers and directors of the l. corporations Alfred c. LeBaron. presi IT dent; T. M. Smith. vice-president; J B. A. Gumm, secretary and treasurer ol n manager.
 Y ARTICLE VI
 d The highest amount of indebtedness y or liability, direct or contingent. tS y which the corporation is at any time ,r to subject itself shall in no event ex n ceed two-thirds of it's capital stock. un Is less a further amount of liability o T, indebtedness be permitted by law, il s. which event, not to exceed the amour IS so permitted. Such indebtedness ma! IS be incurred or created by, or unde " the direction of the board of directors h. or by persons acting under the au se thority of the board of directors. pr ARTICLE VII.
 ts The private property of stockholder pr Is to be exempt from any and all COT ly porate debts and stockholders are no ar to be liable for any such corporal, IT, debt to any person in any even d. whatever.
 y, ARTICLE VIII.
 In Vacancies in rhe board of director n, shall be filled by vote of the stock sd holders at any special meeting whic ,n may be called for that purpose in tn Id manner provided by bylaws to b ie adopted for the corporation. Until & e. filled. such vacancy shall not limi or the power of a majority of the rt Id maining directors to transact the bus h. ness and conduct the affairs of tn Id corporation.
 le ARTICLE TX.
 te The board of directors shall hay
 full power. and may by resolution O
 contract, appoint such other genera u. or special agents of the corporation to with such powers and duties as tn of board may designate and determine ,h the act of such person or agent s la appointed shall be as effective rela or ing to matters, powers, and duties s CT designated. as If the same matters ". acts or things were done by the d mt rectors or officers of the corporatio ed acting under the provisions of thes he articles or the bylaws.
 ed ARTICLE x.
 all The board of directors may adoT CT such bylaws as may be necessary { he regulate and control the business sr stock. meetings and other business ( 'p- the corporation. The stockholders r, pr. serve the right to repeal or amend tn It's same at any annual or special mee on ing for the purpose of so doing. An ne bylaw adopted by stockholders pee