Bisbee daily review., 1916-06-22

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 ! eateways: 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.
 [ 2. 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, I and as provided by law. | 12. 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 T a 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 it's interests.
 The authorized amount of capital stock of this corporation shall be, and is. s1,000.00O.0o. divided into 100000 shares of the par value of s1 % each. and the said capital stock is hereby made forever non-assessable . bv 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 oi 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 certified copy of these articles of incoruora- ton in the office of the CorpOratio- Commission. in Phoenix. Arizona. and this corporation shall endure and ex- ist for twenty-five (25) years there after.
 VI.
 The affairs and business of this corporation shall he conducted and controlled bv a board of seven (7N directors each and all of whom shall he stockholders and elected annually by the stock holders of this corpora ton. and said stock holders shall , elect from among the directors the = following officers. a President a Vice f President, a Secretary and Treasurer I and such other officers as the board ? of directors. Or stock holders. may f from time to time. create. The pe- ' son elected Secretary may also he f Treasurer. Such directors may be !. elected the first time at the organiZa . tion meeting of this corporation. and 
 the first annual meeting of the stock holders of this corporation. or unti f their successors have been elected .. and qualified.
 I The annual meeting of the stock . bolde-s shar ho hold urNn tho first ! Saturday after the first day Of January ,. each year, at the hour of 10:00 o'clock A. NJ. at such place or places. as the bylaws may prescribe. and such l directors. so elected. shall be the directors of this corporation for the ,. period of one year thereafter. and s until their successors are elected and ,. qualified. The persons who shall be s 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 l qualified are as follows: ' l. F. Walker. Bisbee, Arizona. ,. Kay Ross. Bisbee. Arizona. f N NJ Pederson. Bisbee. Arizona. r Charles Albert Smith. Bisbee. Ari ? zona.
 n J. O. Tonkin. Bisbee. Arizona. l w. B. Hosmer. Bisbee. Arizona. g And until the first annual meeting 2 of the stock holders of this corpora ton. and until their successors are elected and qualified. the following s named persons shall be the officers oi '- this corporation:
 { l. F Walker. President I Kay Ross. Vice President p Charles Albert Smith, Secretary.
 J. O. Tonkin. Treasurer. VII. . The highest amount of indebtedness - or liability, direct or contingent. tC l which this corporation shall. at any ]. time. subject itself shall not exceed g one-half (1s) of the authorized capital of this corporation.
 VIII. | The private property of the stock !. holders and incorporators of this cnr,narv gre. and shall forever be ,. exempt from all liability for any ]. debt or liability of this corporation r IN. '- The authorized aamount of capital stock of this corporation may be in b creased. or decreased. and these arti ,. cles of incorporation may be amended - at any annual meeting of the stock