Arizona republican., 1916-11-21

with the foregoing objects. not in consistent with law, in any part Of the world, as the Board of Directors may deem to the advantage uf the corporation.
 ARTICLE III.
 The capital stock of this corpora tion shall be THREE MILLION DOL LARS (S3eO0. .0u0GO divided into THREE MILLION t3.Oo0.0O0) shares of the par value of ONE DOLL AR tSl.00) each; such capital stock may be issued at such times, as the Board of Directors may designate, either for cash, or real or personal property, CT services. Or lease or op- ton to purchase, or any other valu- able right or thing for the uses and purposes of the corporation. and all shares of capital stock so issued shall ! thereupon and thereby become full- paid the same as though paid for in cash at par and shall be non-assess- able forever. and the judgment of the directors as 10 the value of any property, right. or thing acquired in exchange for capital stock shall be conclusive. in the absence of actual fraud in the transaction.
 ARTICLE ".
 The time 0. the commencement icf this corporation shall be the date of issuance to it of a certificate of incorDoration hv the ARIZONA COR PORATION COMMISSION. and 1t shall endure for the full term of twenty-five years thereafter. with privilege of perpetual succession as provided " law.
 ARTICLE V. The affairs of the corporation shall be conducted by a Board of Directors fafef afartf. q nor more than seven CO directors. by whom d President, a Viee-Pre dent, a Secretary and Treasurer, shall be elected from among the stockholders, provided that the of i flee of Treasurer may be held by the same person holding any of the other above named offices. The Board of Directors may from time to time appoint such other officers and agents as to them may seem meet and proper. The Directors shall he elected by and from among the stockholders at their annual meeting to be held on the third Wednesday in october in each year. and shall hold office for ONE YEAR and until { their successors have been elected and have qualified. Until the first an nual meeting Of the stockholders and until their successors have been elected and have qualified the fol- lowing named persons shall be the officers and Directors as stated:
 LOUIS l.. WALLACE President and Dire tor.
 JOHN II. ROBINSON, Vice-Pre dent and Director
 FRED BLAIR TOWNSEND. secre- tary- Treasurer and Director.
 w. B. TWITCHFLL. Director.
 VIC FANNY. Director.
 ARTICLE VI.
 The Directors shall have power to adopt amend and rescind by laws, to fill vacancies occurring in the Board from any cause. and to appoint from their own number an executive committee and vest said committee with all the powers grant ed the directors by these Articles.
 ARTICLE VII.
 The highest amount of indebted ness or liability to which the corpor- ation may at any one time subject itself is TWO MILLION DOLLARS f$2, ,0O0, ,00000)
 ARTICLE VIII
 The private property of the stock holders of the corporation shall be forever exempt from the debts or obligations of the corporation.
 ARTICLE TX. These Articles of Incorporation" may be amended by a majority vote of the outstanding stock of the cor poration at any regular meeting of the stock holders or at any special meeting thereof called for that pur- pose
 IN WITNESS WHEREOF we have hereunto set our hands and seals this tenth day of September, 1916. R. F. STARR LOUIS L. WALLACE. STATE OR ARIZONA, )