Bisbee daily review., 1916-09-19

and operating telephone and telegraph lines: carrying on merchandising establishments: and may borrow and loan money: execute notes and bonds: lease. sell. mortgage and hypotHecats any and all of its property. and do and perform all other deeds. act and things incident or convenient to it's general business.
 ARTICLE V.
 The amount of the capital stock of this corporation is Three Hundred Thousand (s3OO. O.0OOOO) Dollars. divid- ed into three thousand (9.000) shares of the par value of One Hundred (S1OO.0O) Dollars each. Stock shall be issued only when paid for in cash, services or property. and shall be issued as fully paid and forever non assessable. The judgment Of the board of directors as to the value of property taken in exchange for stock shall be conclusive in the absence of fraud.
 ARTICLE VI.
 The time of the commencement of this corporation shall be the date on which certificate of incorporation is issued by the Corporation Commission of Arizona, and it shall terminate twenty-five (25) years thereafter un- less renewed in the manner provided by law.
 ARTICLE VII.
 The affairs of this corporation shall be conducted by board of three (S) directors, who shall be stockholders of this corporation. Said directors shall be elected at the annual meet ings of the stockholders. and shall serve for one year and until their sue .cessors are elected and qualified. The annual meetings of the corporation shall be held at such place and hour as may be prescribed by the bylaws of the corporation on the second Mon- day in June of each year. Special and place. and in such manner as may be prescribed by the bylaws of the corporation. If at any time vacancy in the board of directors shall occur such vacancy may be filled by the remaining directors in office. The person so selected to fill vacancy shall serve during the ip- expired term of his predecessor. arN until his successor is elected ano qualified. Until the first annual meet ing of the corporation, and until their successors are elected and qualified. the following named persons shall serve as directors of this corporation, to-wit:
 DENYING W. ISAACSON,
 CHARLES c. HATCH.
 MABRY B. LAWSON.
 ARTICLE VIII. The officers of this corporation shall be a president, vice-president, secre- tary and treasurer. who shall be elect ed by the board of directors i'm mediately after each annual meet ing of the stockholders of the corporation, and shall hold office for one year and until their successors ere elected and qualified. The direc- tors named herein sha elect the of- fcers of the cOrporath a, who shall serve until their successors are elected and qualified. The offices of secre- tary and treasurer ma be held by the same person. and by persons who are not stockholders of the corpora tion. In the event of vacancy in any office, the board of directors may fill the same. and the person so select ed shall serve during the uneypired term of his predecessor and until his successor is elected and qualified. ! Additional offices may be created by | the stockholders of the corporation. and when so created shall be filled and vacancies therein supplied by the board of directors.
 ARTICLE TX. | Bylaws for this corporation shall be adopted, and may be amended or revised by the board of directors until and unless otherwise provided by resolution of the stockholders. ARTICLE x.
 The highest amount of indebtedness or liability. direct or contingent to which this corporation is at any time to subject itself. is Two Hundred Thousand (S200. .000.00) Dollars.
 ARTICLE XI. The private property of the stock holders of this corporation shall be exempt from corporate debts.
 ARTICLE VII. ! Deming w. Isaacson. of Benson, Cochise County. Arizona. who has been a bona fide resident Of the State of Arizona for at least three years, is hereby appointed the lawful agent of this corporation for and in behalf of this corporation to accept and ac- knowledge service and upon whom may be served all necessary process or processes in any action, suit or proceedings that may be had or brought against this corporation in any of the courts of the State of Ari- zona, and for all purposes required by law. The board of directors may re- yoke this appointment of agent at any time. and shall have power to fill any vacancy in such position ARTICLE XIII. 4 At any annual rnaetiug Of tha Stoctr