The daily morning oasis., 1919-12-26

NdCioi W dllt IIOiil It's HlIIIcS VI WOIhH
to any railroad, waterway or high
way, and generally to do all things
incident or necessary to the proper
and successful conduct of it's busi,
, ness, and to do and perform each
! and every act and thing which is law
full for natural persons to do, all of
which business may carried on at
such place or places as the Board of
Directors may deem for the best in
terest of the corporation.
V.
The amount of the capital stock of
this corporation shall be ONE MIL
! LION Isl ,000,C00.00) DOLLARS, di-
vided into one million (1,000,0O0)
6hares of the par value of One ($100)
Dollar per share. The shares of stock
shall be paid for at such time and in
such manner either in cash or by sale
and transfer of property to the cor
poration, or by services rendered, as
the Board of Directors snail deter
mine, and said stock when issued shall
be fully paid and non-assessable. The
capital stock may be increased or de-
creased by the affirmative vote of a
majority of the stock, but in case
of the increase of the capital stock
each share holder shall have the priv
ilege of subscribing for such number
of shares of the proposed increase as
he may be entitled to in proportion
to the number of shares held by him
! before the stock is increased.
| vi,
The highest amount of indebted
/ ness or liability either direct or con-
! tingent to which this corporation is
at any time to subject itself shall
not exceed the sum of One Hundred
Thousand ,0O0OO) Dollars, and
the private property of the stock
holders of this corporation shall be
exempt from the payment of its cor
poration debts.
The business affairs of this corpor-
alton shall be conducted by a Board
Of Directors, consisting of seven {7)
members, each of whom shall be a
stockholder, and whenever any direct
or ceases to be stockholder, he shah
at the same time cease Co be a di-
rector. The directors for any en-
suing year shall be elected by the
stockholders at their regular annual
meeting which shall be held at the
office of the company in Nogales,
Santa Cruz County, Arizona, on the
second Monday of November of each
year, and shall hold their office until
their successors are elected and quail
fled. Any vacancy in the Board of
Directors may be filled by the re-
naming members of the Board by ap-
pointment from among the stockhol-
ders, and such appointment shall be
for the unexpired term for which the
appointment is made. Until the first
annual meeting of stockholders in
November, 1920, the following named
persons shall constitute the Board Of
Directors, viz: Alfred z. Taft, AL
fred 2. Taft, Jr., B. Y. Taft, Mildred
Taft Tinkham, Sarah Taft Somers
Mary E. Phillips and Russell Tink-
;. ham, and majority of the Board
of Directors shall constitute quorum
for the transaction of business.
VIII.
Within ten days after the election
of any board of directors they shall
meet at any office of the company
and elect from among their number
the officers of this corporation, who
shall be President, Vice President,
Secretary and Treasurer, and such
other minor officers and agents as
the Board of Directors may deem
necessary for the best interests of the
corporation. All officers shall hold
their offices during the life of the
Board of Directors by whom they are
elected, and until their successors are
elected and qualified, unless sooner
removed by majority vote of the di-
rectors. Two offices may be held
! by the same person, and the Board
of Directors shall have power to fill
any vacanacy on said Board of Di-
recteors.
TX.
These Articles of INCORPORATION
may be altered or amended at anv
regular meeting of the stockholders,
or at any special meeting called for
that purpose by an affirmative vote
of a majority of the stock; and the
Board of Directors may call a meet
ing of the stockholders for this or any
other purpose not inconsistent with
law, but notice of such proposed
amendment shall be given to the
stockholders, by mail to their last
known address and by publication in
newspaper published in Santa Cruz
County, Arizona, at least twenty days
prior to the meeting at which such
amendment shall be voted upon.