Bisbee daily review., 1917-02-10

porations 12) TO issue. acquire. take hold. pledge. sell and deal in promis- ory notes. drafts. bills Of exchange and obligations of every sort and character. provided that no Obliga- . lions 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. | Q3) To enter into contracts of all sorts, 10 lend or borrow money and take or give security for the pay ment thereof G4 To do any and all things which a natural person might and could do in the matter of the transacting of the business of the cor poration and in the promotion and management of it's interests. Article 3-The amount of the capi- tai stock of this corporation shall be ONE MILLION (Sl 1000, ,0O00O) DOL LARS. which shall be divided into One Million Q.O00,OOO) Shares of the par value of One Dollar ($t00) per share: which shares shall be and must be fully paid up at the date of the issuing thereof and shall be for ever non-assessable; but such stock may be paid for in money, services. property, rights. easements. privileges or anything of value. and the judge ment of the board of directors shall be forever conclusive, both as 10 the | actual value of the said stock. and the consideration paid therefore, in the absence of fraud or any collusive, agreement.
 Article 4-The time of the con- mencement of this corporation shall { be when these articles of incorpora- ton shall be file dior record in the office of the corporation commission of the State of Arizona, at Phoenix. Arizona, a certified copy thereof re- corded in the office of the County Re { corder. of Cochise County, Arizona, at Tombstone, Arizona, in which County the principal place of business of the corporation is to be and a certificate of incorporation delivered to the cor poration by the Corporation COmmis- sion. of the State of Arizona.
 The corporation shall terminate twenty-five years from the said date, l but it may be renewed from time to time, for periods not exceeding twen- ty-flve years, when the taking of the steps prescribed by law for such re- newal or renewals.
 Article 5-The affairs of this cor poration shall be conducted by a board of three directors. but the num- { Der constituting the board of directors may be increased or diminished by the vote of the stockholders at any annual meeting or at any special meet | ing called for that purpose.
 The 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 Bisbee. Cochise County, Arizona, , January First, 1918. and the members Of such board of directors shall be elected annually thereafter at such annual meetings, to be held January 1 of each year.
 The officers of the corporation shall be a President, Vice-president Secretary and Treasurer. and the lat ter two offices may be held by the same person.
 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 meeting shall be Paul P. LorenZen. Charles H. McKeon and W. Grover Johnson: and the officers to hold and serve until that time shall be Paul P Lorenzen. President: Charles H. Me Keon, Vice-president: w Grover Johnson. Secretary-Treasurer The highest amount of indebted ness or liability, direct or contingent to which this corporation shall at any time subject itself, shall. in no case be more than SIX HUNDRED SIXTY SIX THOUSAND. SIX HUNDRED SIXTY-SIX and 66-10O Dollars ($666 666.66).
 Article 7-The private property of the stockholders of this corporation is hereby expressly made and declar- ed exempt from all liability for cor porate debts.
 IN WITNESS WHEREOF We have hereunto set our hands this the 22nd day of January. 1917 A. D.
 PAUL P. LORENZEN,
 President
 CHAS. H. McKEON.
 Vice-President
 W. GROVER JOHNSON.
 Secretary-Treasurer. State of Arizona)
 ] ss.
 County of Cochise)