Arizona republican., 1918-04-29
Directors may deem to the advantage of the corporation.
 Article III

Directors may deem to the advantage of the corporation.
 Article III
 The amount of the authorized capi tai stock of the corporation is one hundred thousand (s100,OOO) Dollars, divided into one hundred thousand shares of capital stock of the par value of one (sD Dollar per share, which shall be paid in, at such time as the Board of Directors may designate in cash real or personal property, ser vice. lease, option to purchase, or any other valuable right or thing, for the uses of the corporation, and all shares of capital stock when issued in eX- change therefor, shall thereupon and thereby become and be full-paid the same as though paid for in cash at par, and shall be non n-assessable for ever; and the judgment of the Board of Directors as to the value of any property, right or thing acquired in ex- | change for capital stock shall be con elusive.
 Article ".
 The time of the commencement oi the corporation shall be the day these Articles are filed in accordance with law, and the termination thereof shall be twenty (25) five years thereafter with privilege of renewal and right of perpetual succession as now provided | by law.
 Article V. i The affairs of this corporation shal 1 be administered by Board of not less | than three nor more than seven Di- rectors, by whom President and Vice President shall be elected and a-Secre- tary and Treasurer appointed.
 The Directors shall be elected by an6 from among the~ stockholders at the annual meeting of the stockholders which shall be held on the second Tuesday in April of each year.
 Until their successors are elected ant qualified the following named person: shall be the Directors and officers:
 President, Director, A. G. HULETT.
 Vice President, Director, NJ. J. Nor ley.
 Secretary and Treasurer, Director Doane Merrill.
 Article VI. exercise the powers granted the Dlrec' tors by these Articles.
 Article VII.
 The highest amount of liability tt which the corporation shall at an! time subject itself shall not exceed tw' thirds of its capitalization.
 Article VIII.
 The private property Of the Stock holders of the corporation shall be for ever exempt from liability for cor. porate debts of any kind whatsoevei
 IN WITNESS WHEREOF, we hay hereunto set our hands and seals thi 18th day of April, 1918.
 (SeaD A. G. HULETT, (SeaD NJ. J. MORLEY, (SeaD DOANE MERRILL. STATE OF ARIZONA.
 COUNTY OF MARICOPA, ss:
 Before me, Ruby F. Kimmell. No tary Public in and for the County 2 Maricopa, State of Arizona, on thi day personally appeared A. c. Hulet NJ. J. Morley and Doane Merrill, know to me to be the persons whose name ) are subscribed to the foregoing instru ment and acknowledged to me tha they executed the same for the puT The Directors shall adopt Bylaw for the government of the corporatio l and may amend the same. They sha , have full power to fill vacancies oC curing in the Board from any caus and to appoint from among the ) number an Executive Committee whic to the extent provided by resolution ( r by the said Bylaws, shall have an : poses and consideration thereinN e2 pressed. Given under my hand an ) seal of office this 18th day of Apr j. 1918. My commission expires March 1922.
 s RUBY E. KIMMELL. ] (SeaD Notary Public.