Bisbee daily review., 1916-06-21

O. O NOlolA utNs OM IT, ODEldNG anu manage railroads, tramways, turn bikes. and canals. leading from its principal works and places of busi- ness to some existing railroad Or public highway; to own, acquire, con- struct. operate and control irrigating ditches, dams, fumes, drains and gateways; to buy. sell. rent lease. mortgage, exchange, till, cultivate and manage farms, and farm lands, as the same may become incident and proper to the business of the corpora tion.
 9. To construct, own operate, con- tISl and dispose of every kind and character of power plant, whether operation by steam, electric. water or other power.
 10. To acquire, hold, own, pledge and sell the shares of other corpora tions
 II. To issue. acquire, take, hold, pledge, sell and deal in promissory notes. bills of exchange and obliga- tiOns of every sort and character, provided that no obligation of any character shall be issued by this corporation in excess of the liability of the company, as herein set forth. and as provided by law.
 F. To enter into contracts of all sorts, to lend or borrow money, and take or give security for the payment thereof.
 13. To do any and all things which natural person might Or could do in the matter of the transaction of the business of the corporation, and in the promotion and management Of its interests.
 The authorized amount of capital stock of this corporation shall be. and is. S1,O0O.O0OOO, divided into 100000 shares of the par value of S1.00 each, and the said capital stock is hereby made forever nonassessable by this corporation, or the directors thereof. Or at all. for any purpose whatsoever.
 Such capital stock may be paid for on the date of the issuance O. the same, or at such other time. and under such other conditions as the board of directors of this corporation may designate, in money, property or. labor. and the judgment of the board of directors of said corporation, as to the value thereof, shall be conclusive
 V.
 The time of the commencement of the existence of this corporation shall be the day of the filing of a certified copy of these articles of incorpora- tion in the office of the Corporation Commission, in Phoenix, Arizona, and this corporation shall endure and ex- ist for twenty-five (25) years there after.
 The affairs and business of this corporation shall be conducted and controlled by a board of seven CD directors, each and all of whom shall be stockholders and elected annually by the stock holders of this corpora tion, and said stock holders shah elect from among the directors the following officers, a President, Vice President, a Secretary and Treasurer, and such other officers as the board of directors, Or stock holders, may, from time to time, create. The per son elected Secretary may also be Treasurer. Such directors may be elected the first time at the organiZa- tion meeting of this corporation, and shall serve as such directors until the first annual meeting of the stock holders of this corporation, Or until their successors have been elected and qualified.
 The annual meeting of the stock holders shall be held upon the first Saturday after the first day of January each year. at the hour of 10:00 o'clock X. M., at such place, or places, as the bylaws may prescribe, and such directors, so elected. shall be the directors of this corporation for the period of one year thereafter, and until their successors are elected and qualified. The persons who shall be, and who shall constitute, the board of directors of this corporation until such annual meeting is held, and un- til their successors are elected and qualified are as follows:
 J. F. Walker. Bisbee, Arizona.
 Kay Ross, Bisbee, Arizona.
 \. NJ. Pederson, Bisbee, Arizona.
 Charles Albert Smith, Bisbee, Ari- zona
 J. O. TOnkin, Bisbee. Arizona.
 W. B. HOsmer. Bisbee, Arizona. And until the first annual meeting of the stock holders of this corpora tlon, and until their successors are elected and qualified, the following named persons shall be the officers of this corporation:
 J. F. Walker. President
 Kay Ross, Vice President.
 Charles Albert Smith, Secretary.
 J. O. Tonkin, Treasurer.
 VII
 The highest amount of indebtedness, or liability, direct or contingent. to which this corporation shall, at any time. subject itself shall not exceed one-half (I9) of the authorized capital of this corporation.
 VIII
 The private property of the stock holders and inc0rpOratOrs of this company are and shall forever be, exempt from all liability for any debt or liability of this corporation.
 TX.
 The authorized amount of capital stock of this corporation may be in creased, or decreased, and these arti-