The copper era and Morenci leader., 1917-08-24

sam w. PrOcJOT, S0cT0IdTy.
 ARTICLES OF INCORPORATION We, the undersigned, in order to form a corporation for the purposes hereinafter stated, under and pur- suant to the laws Of the State of Ari- zona, do hereby certify as follows: The name of the corporation is THE PEOPLES BANK AND TRUST co.
 The principal place Of business of this corporation is ,h- town of Cliff ton, County of Graenlee, State of Ari' ZCIa s,s The names, postoffice. addresses and residences of the incorporators are: O. J. Cotey, whose post office address and place of residence is Clifton, Greenlee County, Arizona; A H Slaughter, whose post office ad dress and place of residence is Cliff. ton, Greenlee- County, Arizona; and Antonio Spezia, whose post office ad- dress and place of residence is Cliff ton, Greenlee County, Arizona.
 ".
 The general nature of the business proposed to be transacted. by this COT. pcration is:
 l. To carry on the business oi banking in all it's branches under the laws of the State of Arizona; receiv- ing deposits and paying them out on order of depositors; buying and sell ing exchange coin and. bullion; bor rowing and lending money; loaning buying, selling, discounting, holding and dealing in all kinds of negotiable paper, including promissory notes, mortgages on real and personal prop erty, stocks and bonds, city, town, school, county and state bonds and warrants; gold, silver and copper bull. lion and ores; and all evidences of debt and valuable paper and all other good and sufficient security either personal, collateral or real estate.
 ?. To acquire, purchase, own and lease all real estate and personal or mixed property necessary and proper for the conduct of it's business under the provision of law and to sell, mortgage, lease or otherwise dispose of or hypothecate the same.
 2. To do a general trust business. and to act as trustee, administrator, eXecutor, guardian a administrator with
 
 agent, or in any and all other fidu- 'ciary capacity in any proceeding in Court or otherwise and to receive, and property necessary to the com plete performance of the duties of it's trust.
 The amount of the authorized cap ital stock of this corporation is fifty thousand ($50,0OO) Dollars, divided into five hundred shares of the par value of One Hundred (s1O0.OG) dol lars each, which shall be paid in at such time as the board of directors shall determine in cash, real or per sonal property, services, or any other valuable right or thing for the uses and purposes of the corporation, and all shares of the capital stock when issued shall thereupon be and become fully paid up and non-assessable and the judgment of the board of direct ors as to the value of any property acquired in exchange for capital stock shall be conclusive
 VI
 The time of the commencement of this corporation shall be the day when these articles are filed in accordance to law and the termination shall be twenty-five years thereafter with privilege of renewal, as now provided by law.
 VII. The affairs of this corporation shall be conducted by "a board of directors of not less than three (3) fhay o1-1 ~1I by whom a president, two vice-presl- dents and one cashier shall be select ed. The cashier so selected shall be by virtue of his office secretary-treas- urer of the corporation. The direct DTS shall be elected by and from among the stockholders on the first Monday in January of each year and shall hold office until their successors shall be elected and shall qualify. The following shall be the directors and officers stated:
 O. J. Cotey, President: A. H. Slaugh ter, Vice+President; Pickens Ander- son, Vice-President; I. N. Thompson, Cashier; Antonio Spezia, John R. Ward and T. M. Quebedeaux, Direct DTS The board of directors shall have power and it shall be their duty to make and establish bylaws for the regulation of the affairs of the cor pCration.
 VIII. The highest amount Of indebted ness or liability to which the corpora ton may at any time subject itself is the sum of Twenty-Five thousand 1925, 100000 Dollars, The private property of the stockholders of the shall be forever exempt from corporate debts
 IN WITNESS WHEREOF, we here to affix our signatures this 21st day of July, 1917.
 O. J. Cotey
 A. H. Slaughter
 Antonio Spezia State of Arizona,
 County of Grenlee, ss.
 This instrument was acknowledged before me this 21st day of July, 1917.