Bisbee daily review., 1916-11-18

? issued in payment for property, proper ty rights and privileges, or services, end ,he judgment of the directors as to the value thereof in the absence of fraud, shall b. conclusive; and pro vided further that the directors may authorize the safe of the capital stock for less than par when in their opinion the interest of the corporation de- mands such action.
 ARTICLE V.
 The time of the commencement of this corporation shall be as soon as these articles of incorporation are filed for record in the office of the Corporation Commission of Arizona. and a certified copy thereof recorded in the office of the County Recorder of said Cochise County, and a Certi- icate of Incorporation delivered to it by the Corporation Commission; and it shall continue for period of twenty five (25) years thereafter. ARTICLE VI. The affairs of this corporation shall be conducted by board of not less than three (3) and not more than seven CD directors, who shall be elected by the stockholders at their annual meeting which shall be held on the second Wednesday in January of each year.
 The directors of this corporation, until the first annual meeting of the stockholders and until their success sors are elected and have qualified. shall be and are. J. C. Collins, R. A. BrethertOn, and John FitzPatrick. The officers of this corporation shall be. President, a Vice President, a l Secretary, and a Treasurer, who shall be elected by the board of directors from among themselves immediately after the election of such directors each year. The offices of Secretary and Treasurer may be held by one and the same pcrsCn.
 The directors and officers of this corporation shall hold office for one year next ensuing their election and until their successors are elected and ] have qualified
 The officers of this corporation. until the first annual meeting of the stock holders and until their successors are elected and have qualified, shall be and are as follows: J. C. Collins. President; R. A. Bretherton, Vice President; John FitzPatrick, Secre- 1 tary and Treasurer. ARTICLE VII
 The highest amount of indebtedness or liability to which this corporation ! is at any time 70 subject itself to is 1 the sum of Six Hundred Thousand Dollars (S6O0.OOO 00). i ARTICLE VIII
 The private property of the stock ! holders and officers of this corpora tion shall be exempt from the cor porate debts and liabilities of this corporation.
 ! IN WITNESS WHEREOF, we have hereunto set our hands and seals this ! 6th day Of November. A. D. 1916.
 J. c. COLLINS ] R. A. BRETHERTON
 JOHN r. FITZPATRICK
 Incorp orators | State of Arizona, > ss. ! County of COchser ! On this day, before me, Walter J. : Roche. a Notary Public in and for the , County of COchise, State of Arizona personally appeared J. c. Collins, R A. Bretherton. and John FitzPat-ics. known to me to be the persons whose names are subscribed to the fOregoinl ! instrument. and each If said persons stated and acknowledged to me that they executed the same for the pur- poses and consideration therein ex- ' pressed.
 Given under my hand and seal of office this 9th day of November. A. D. 1916.
 ! (NotariaI WALTER J. ROCHE. Seal ) Notary Public
 My commission expires March i. 1920
 Filed in the office of the Arizona Corporation Commission this Sth day of Nov. A. D. 1916. at 1O:OO A. NJ. at request lof FRED SUFFER, whose post office address is Bisbee, Arizona
 Arizona Corporation Commission,
 By r. A. JONES, Chairman.