Douglas daily dispatch., 1927-04-14


or at all, for any purpose whatsoever.
Said Capital Stock may be paid for
at the time of issuance of the same or
at such other time and under such
other conditions as the Board of Di-
rectors of this corporation may desig-
nate, in money, property, or labor and
the Judgment of the Board of Directors
of said corporation as to the value
thereof shall be conclusive.
ARTICLE v
The time of the commencement of
the existence of this corporation shall
be the date Of the delivery of GER
tificate of incorporation to the COM
pany, at Douglas, Arizona, by the Cor
poration Commission of the State of
Arizona and this corporation shall en-
dure and exist for Twenty five (25)
years thereafter.
ARTICLE VI
The affairs and business of this cor
poration shall be conducted and con-
trolled by a Board of not less than
Three (3) nor more than Five (5) di-
rectors, each and all of whom shall be
stockholders and elected annually by
the stockholders of this corporation
and such directors shall elect from
among themselves the following Off
GERS: A President; a Vice President
and Secretary Treasurer and such
other officers as the Board of Directors
may from time to time create.
The annual meeting of the stock
holders shall be held upon the last
Saturday of January of each year. at
the hour of 1000 o'clock A. M at such
place or places as the Bylaws may pre-
scribe and such directors so elected shall
be the directors of this corporation for
the period of one year thereafter and
until their successors are elected and
qualified. The persons who shall be
and who shall constitute the Board of
Directors of this corporation until such
annual meeting is held and until their
successors are elected and qualified are
as follows:
B. L. Brannan, Loveland, Colorado.
r. L. Hoyal, Douglas, Arizona.
Wilma d. Hoyal, Douglas Arizona.
And until the first annual meeting
of the stockholders Of this corporation
and until their successors are elected
and qualified, the following named
persons shall be the officers of this
corporation:
B. L. Brannan ...... President
r. L. Hoyal .......... president
Wilma D. Hoyal :. Secretary-T Treasurer
The organization meeting shall be
held within Ten GO) days after the date
of the delivery of a certificate of in
corporation to said company by the
Corporation Commission of the State
of Arizona.
ARTICLE VII
The highest amount of Indebtedness
or liability, direct or contingent, to
which this corporation shall at any
time subject itself, shall not exceed
wo-thirds (2-3) of the Capital Stock
of this corporation.
ARTICLE VIII.
I, The private property of the stock
holders and incorporators of this COM
pany is and shall forever be exempt
from any and all liability for any debt
of liability of this corporation.
ARTICLE TX
The authorized amount of Capital
Stock of this corporation may be in
creased or decreased and these Ar
ticles of Incorporation may be amended
at any annual meeting of the stock
holders or at any special meeting of
the stockholders called for that pur-
pose by a majority vote of the corpora
tion stock then issued, in favor of such
IN WITNESS WHEREOF, we have
hereunto set our hands and seals this
9Th day of April, A. D., 1927.
E. L. BRANNAN,
r. L. HOYAL,
WILMA d. HOYAL
STATE OF ARIZONA,
COUNTY OF COCHISEt SIS.
On this day personally appeared be-
fore me, William G. Gilmore, a Notary
Public in and for the County of
Cochise, State of Arizona, b. l.. Bran
nan, r. L. Hoyal and Wilma D. Hoyal,
known to me to be the persons whose
names are subscribed to the foregoing
and acknowledged to me
that they executed the same for the
purposes and consideration therein ex-
pressed.
WILLIAM G. GILMORE,
Notary Public.
lNOTARIAL SEAL)
My commission expires, April 80, 1927. |
ENDORSEMENT.
Arizona Corporation Commission In !
Department Filled Apr. G, |
1927, at 1000 A. NJ, at request of w. G. |