The daily morning oasis., 1920-08-12

by the Board Of Directors. With the
excepti On of the first officers, who
shall b. selected at the first meeting
of the BOARD of Directors to serve un-
til the first annual meeting OF the
| stockholders and until tleir successors
are elected and qualified, the officers
of the corporation shall be. elected by
| the Board of Directors, from their
own body, or from the stockholders
of the corporation, at the first reg
ular meeting of the directors sue
ceedine each annual election of CT
rectors by the stockholders.
Anv two or more offices, the
duties of the incumbent of which are
not inconsistent, may be held by the
same person. Both the officers aud
directors shall hold their offices fol
the pe:lod of one year from and aft
err the:7 election and qualification AMI
until their successors are elected and
qualified, unless removed by the
board. The directors shall have the
right 10 fill any vacancy occurring IN
the Board b. death, resignation or
otherwise, igs ding the right to iii
such places as may be created by an
increase in the number of the board,
and the person or persons elected TO
fill any such vacancy OF vacancies,
/! created through increasing the num-
Der of the Board, shall hold his Of
flee until the next regular meeting
of stockholders.
ARTICLE VIII.
The regular annual meeting of the
stockholders shall be held at the
principal office of the company on
the second Monday in August of each
wear, commencing with the year 1871.
, ARTICLE TX.
| The Board of Directors shall have
the power to make and alter the BY
laws of the corporation; to fix the
amour; to be reserved as working
capital, and to authorize and cause to
be executed mortgages, debentu1es
and OTHER obligations which shall be
liens uron the property and franchises
of the corporation, and, in general
to exc, else all the powers and au-
thor1ty of the company not express
w withheld from said Board by law,
or bv hese articles of incorporation,
or bv the affirmative action OF the
! stockholders.
ARTICLE X.
The STOCKHOLDERS ard members ut
this corporation and their private
property shall be exempt from a'y
liability for the debts of this corp
oratior.
ARTICLE II.
With the consent of the holders of
two-thirds (2-3) in amount of the
,apital stock of this company, issued
md outstanding when evidenced in
| vritinr or with the consent of a
majority in amount of the capital
took of the corporation, issued and
utstar ling, when expressed by a
esolut' en- adopted at meeting OF
he sto- kholders of the company duly
allied and held pursuant to the by
avs, the directors shall have au-
eority to sell or otherwise dispose
in ,uch manner as may be au-
1orized, the entire property and as
cts of the corporation.
ARTICLE XII.
The Indebtedness of this company
hall At no time exceed the sum OF
Sixty-five Thousand ($65,OOO.Oo)
Dollars.
ARTICLE XIII.
Duane Bird, of Nogales, Santa
1ruz County, Arizona, who has beer
bona fide resident of the State Of
Arizona for at least three (3) years
hereby appointed the lawful agen
# this corporation for and in behal
# it, to accept and acknowledge
ervice and upon whom may b
erved all necessary process in an.
,ction, suit or proceeding that ma,
e held OF brought against this corp
ration in any of the Courts of IN
}tate of Arizona, and for all purpose
equira1 by law.
IN WITNESS WHEREOF we hav
ereunto set our hands this 10Th da
f july. A. D. 1920.
W. H. FLORFNTINl
j. A. HARRISON