Bisbee daily review., 1916-10-29

this corporation shall be One Hundred Thousand (s100. .O00.00) Dollars, which shall be divided into One Thousand Q.O00) shares of the par value of One Hundred (s1OO.0O) Dollars per share: which shares shall be and must be fully paid up at the date of the issuing thereof, and shall be forever non as sessable; but such stock may be paid for in meney. services. property, rights, easements, privileges or any thing of value, and the judgment of the board of directors shall be for ever conclusive, both as to actual value of the said stock and the con sideration paid therefor, in the ab- sence of fraud or any collusive agree ment.
 The time of the commencement of this corporation shall be when these Articles of Incorporation shall be filed for record in the office of the Corpora tion Commission of the State of Ari- zona, at Phoenix, Arizona. a certihei copy thereof recorded in the office of the County Recorder of Cochise Coun- ty, Arizona, at Tombstone, Arizona, in which County the principal place os business of the corporation is to be. and certificate of incorporation de- livered to the corporation by the Cor poration Commission of the State of Arizona.
 
 The corporation shall terminate twenty five years from the said date. but 1t may be renewed from time to time. for periods not exceeding twen- ty-ive years. upon the taking of the steps prescribed by law for such re- newal or renewals.
 VI
 The affairs of this corporation shall be conducted by a board of four di- rectors. but the number constituting the board of directors may be in- creased or diminished by the vote of the stockholders at any annual meet ing or at any special meeting called for that purpose.
 The first board of directors shall be elected at the first annual meeting of the stockholders of the corporation. which shall be held at the principal place of business of the corporation. at Palmerlee. Cochise County, Arizona. on the first Monday in January, 1917. and the members of such board of di- rectors shall be elected annually there after at such annual meeting. to be held on the first Monday in January of each year.
 The officers of the corporation shall be President, Vice-President. Secre- tary and Treasurer. and the latter two offices may be held by the same per son.
 All vacancies in office may be filled by the board of directors. and those elected thereto shall hold office until the next annual meeting. Those who shall serve as the board of directors until the first annual meet ing shall be: J. s. Paimerlee. F. E. Sturdevant, Alexander Murray and Walter E. Hankin; and the other of ficers to hold and serve until that time shall be: J. S. Palmerlee. Prest dent Alexander Murray. viee-Presi- dent. and F. E. Sturdevant. Secretary and Treasurer.
 VII.
 The highest amount of indebted ness of liability. direct or contingent. to which this corporation shall at any time subject itself. shall, in no case. be more than Sixty Six Thousand. Six Hundred and Sixty-six and ss-IO0 ] (s66, 6,666.66) Dollars
 VIII. The private property of the stock holders of this corporation is hereby expressly made and declared exempt from all liability for corporate debts. IN WITNESS WHEREOF, we have hereunto set our hands this 5th day of October, A. D., 1916 J. s. PALMERLEE
 WALTER E. RANKIN FREDERIC E. STURDEvANT ALEXANDER HURRY. fn of Ars,A