Bisbee daily review., 1916-07-26

board of directors as to the values of such goodwill. rights. business. prop erty. real estate or leases thereon. shall. in the absence of fraud. be con elusive.
 To guarantee the payment of div idends CT interest or any share. stocks. debentures or other securities issued by. or any other contract or obligation of. any corporation when ever proper or necessary for the busi- ness of this comDany. and unon such terms and conditions and in such man. ner as pnav be prescribed by the by laws or by resolution Of the board of directors.
 To purchase. hold or reissue and sell the shares of it's capital stock
 To remunerate any person. persons. or cOrDoratiOr for services rendered. or to be rendered. in placing. or as sisting to place. Hr euaranteeing the placing of any of the shares of the cOmnany's capita1 stock. or any de- henture. bond or other securitv of the Cpmnanv. or for services rendered n or about the fnrmatiou ar nronotio7 of the comranv. or the selection and rrorurerront of directors. or the con duet of ite business all Upon such terms as the board 'Df directors may determine and aunrove.
 To conduct business in any of the states. territories. colonies ar depend ercies of tha United States. in the District of Columbia, and in any and ! all foreign countries: to have one or raore officers therein. and therein to hold purchase. n1orteage and c',1vev real and personal property. without limit as to amount. but always subject to local laws.
 The foregOing Daragranhs shall be construed as objects. purposes and movers: and it is hereby expressly intended that the foregoing specifc objects. purposes and powers in auv nara eranh enumerated. eYcept where otherwise clearly indicated. shall not be lipited or restricted hv reference to or inference from the terms of any other clause or paragraph of these articles.
 ARTICLE Y. The authorized amount of cauital stock of this rorrSration shall be THIRTY THOUSAND DOTIARS 1 (s20nO0). divided into THIRTY THOUSAND (9N NO0l SHARES. of the nar value of ONE DOLLAR (s1.OO) each. TTDon subscrintinn therefor said capital stocl shall be paid into this c5rDOrstion in such manner and upon such terms as the board of di- rectors may fix. either in cash. serv- ices. or by the sale trersfer and as- sienment 10 the co-noratiOn of uron- erty. property rights or interests therein. real pr personal. for the uses and purposes of the corDora- | tiOn. and in payment for which. shares of the capital stock of corporation may be issued. and the capital stock so issued shall there upon and thereby become end be fully paid up and non-assessable, and in l the absence of actual fraud in the transaction. the judgment of the board of directors as to the value of the services rendered or property pur- chased shall be conclusive.
 ARTICLE VI.
 The time of the commencement of this corporation shall be the date of the filing Of its articles with the Corporation Commission of the State of Arizona, and the recording of the same in the office of the County Rec order of Cochise County, Arizona. and the termination thereof shall he tven- tv-five (25) years thereafter, and the corporation shall have the right to renew it's charter and franchises for an additional period of twenty-five T
 ARTICLE VII.
 The management and control of tho business. property and affairs Of ire corporation shall be vested in snl conducted by board of three (3) di- rectors and all directors, except in case of vacancies. shall be elected at the annual meeting of stockholders. eXceDt the first board, which is chosen as in these articles hereinafter set forth.
 The officers of the company shall consist of a president. vice-president. secretary and treasurer. and such other officers as the board of directors shall deem eXpedient. and all shall be elected or appointed by the board of directors. Any two or more offices. the duties of the incumbents of which are not inconsistent. may be held by the same person.
 FSth the officers ard directors shall hold their offices for the period of one year from and after their election and until their successors are elected.
 ARTICLE VIII.
 The regular annual meeting of stockholders of the corroration shall be held at the main offices of the comnanv nn the first Monday in February Of each wear.
 ARTICLE N.
 Until the first annual meeting of stockholders. ard until their euccas- sors shall have been elected. tho ")l- lowing named nersors shall constitute the board of directo~s If this corpora- ton: N. c Clark. Ellis O. Smith and Allan c. Waite
 ARTICLE V.
 The directors shall have nowpr to make and alter the bylaws of the corD0ration. tn fiv the amount to he reserved as working canital. and tO authori7e and csuse 10 he executed r-'prtca ges. deheuturas ard other Oh- ligatinns which shaT ha liens rnon tho prOnertv and frauchiees of the cor