Weekly journal-miner., 1921-06-01

crease the number of its members, as hereinbefore limited, and in the event of such action shall designate the additional members thereof who shall serve until their successors are duly elected and qualified;
 The Board of Directors shall have power to hold any meeting and transact any business for the com pany at any time or place within or without the State of Arizona, and all acts of said Board at such meet ings shall lbe valid, provided a ma jority of all of the members of the Board shall be present and shall vote in favor of the action there taken, and such vote shall be conclusive evidence of the sufficiency of notice for such meeting, the Board of Di- rectors shall have power to estab- fish bylaws and make all rules and regulations necessary for the man agement of the corporation and to amend the same.
 The first Board of Directors of this corporation shall consist of five members, and until their successors are elected and qualified, the follow ing named persons shall constitute said Board, to-wit: H. Vim. Stevens, E. J. F. Horne, Chas. T. Joslin, w. A. Drake and J. A. Hope.
 V.
 The time for holding the annual stockholders meeting hereof is the first Monday in March of each year, at the Principal Office of the Com pany iii Prescott, Arizona.
 VI.
 The officers of this corporation shall be a President, Vice-President, General Manager, Secretary, Treas urer, and such other officers as the Board of Directors shall deem neces- sary, such officers to be elected by the Board of Directors, and to serve for one year, and until their suc- cessors are elected and qualified, and the officers of this company, until the next annual meeting of the or otherwise elected by the Directors shall be:
 H. VIM. STEVENS, President.
 E.JFHORNE, Vice-President.
 CHAS. T. JOSLIN, Secretary
 CHAS. T. JOSLIN, Treasurer.
 VII.
 The capital stock of this cor ooration is one million two hundred md fifty thousand dollars, divided nto two million five hundred thous- md (2,500,OO0) shares of the par value of fifty cents per share, and shall be fully paid and non-assess- lble.
 The capital stock shall be issued md paid for upon the conditions md at the times provided by reso- ution of the Board of Directors, at 'uch prices and upon such terms IS the Board of Directors may deter nine, in cash, services, stock of other corporations, real or personal, or other thing of value for he purposes of the corporation, and il the absence of actual fraud in the transaction the judgment of the Board of Directors shall be conclu- i've as to the value of the services, or other things accepted ill payment for the stock of the cor 'oration.
 VIII.
 The highest amount of indebted less or liability to which the com any is at any time to subject itself 5 eight hundred thousand (S800,- 00) dollars.
 The private property of the stock olders of this corporation is and hall be exempt from liability for debts.
 IN WITNESS WHEREOF, said have hereunto set their ands this 29th day of March, 1921.
 H. VIM. STEVENS
 CHAS. T. JOSLIN. tate of Arizona, County of Yava-
 pal ss:
 Before me, EMMET T. MORRI- ON, a Notary Public in and for aid County and State, on this 3lst ay of March, 1921, personally ap- cared H. Wm. Stevens and Chas. :. Joslin, known to me to be the ersons whose names are subscribed ) the foregoing instrument, and ae- to me that they exc uted the same for the purposes nd considerations therein expressed. Given under my hand and seal of ffice this 31st day of March, 1921.