Arizona silver belt., 1901-08-08

Carthy, ]. 5. Sniffen and Albert T. Cotton. SECoND-The name of the corporation is PENAL OIL COMPANY" '" and the principal place for the transaction of business shall be at the town of Globe, in Gila county, territory of Arizona, but said incorporation intends tO carry on business in the town of Florence, Pinal county, Arizona territory, and in such other towns, counties and states as may be found necessary or ad yisable The corporation will have main office and stock transfer office in the town of Globe, county of Gila, territory of Arizona. TmRD-The purposes for which said cor poration Is formed are to prospect Tor explore and discover natural gas, petroleum, paraf fine, asphaltum, minerals, coal oil or other oils, gases minerals and volatile substances; to drill, develop and operate wells for the ex- traction of natural gas, petroleum, parattine, asph alum, minerals, coal oil and other oils, gases and volatile substances; to produce, &C., auire, own and sell natural gas, petroleum, paratine, asphaltum, minerals, coal oil and other oils gases and volatile substances; to carry on the business of boring wells, of pro ducing, buying, selling, retninng, distilling oil petroleum, paratfne, natural gases and asphaltum and other minerals. hydro carbon substances, and for such purpose: to buy, lease or otherwise acquire, own and operate manu- factories, rehneries, machinery, pipes, pipe
 
 other works, proper appliances that may be incident or auxiliary to said business or that may be deemed necessary or convenient by said corporation: to sell, lease or otherwise dispose of rights, properties and lands of the corporation; to establish and carry on agen- ces offices and manufactories and to sell ar ticles and products manufactured by said cor poration, other persons or corporations in the territory of Arizona, or in any other state
 
 auire, hold, improve, develop, control, sell, lease and mortgage or hypothecate oil bearing or other lands and personal property of every kind, nature and description: to buy and &C., quire by appropriation and diversion, lease, own, possess and otherwise deal in water, water rights and pri ,ileges, and to apply the same directly or indirectly power for the purpose of generating electricity, steam or other motive power in the operation and man. agement of the business of said corporation; tu construct, complete, own, buy, sell and operate water bitches, canals, acqueducts fumes and pipe lines; Co enter into any obli- gation ar contract pertaining to the business of said corporation; tC conduct general bank ing business and commercial business; and generally to do and perform any and all acts and things necessary for carrying on the busi- ness of the corporation or eifectlng any or all of the above mentioned purposes.
 FOURTH The amount of the capital stock authorized is one million dollars, divided into one million shares of the par value of one dol. lar per share, each share fully paid up and forever non-assessabe.
 FIFTH- The said corporation shall begin business on the date of the incorporation thereof duly effected and completed. and will terminate in twenty-five years from that date. SINTH--The officers of this corporation shall consist of president, vice president secre- tary and treasurer, and who shall be elected from the board of directors. And She affairs of this corporation shall be conducted by board of directors consisting of seven persons, including the president, vice president. secre- tary and treasurer, and at the option of the board of directors an assistant secretary and an assistant treasurer, executive committee and other sub-ofiicers may be appointed.
 Election of directors shall be held annually on the first Monday in June of each year, and who shall be elected by a majority of all the stockholders present. and who shall hold their term of office until their successors are duly elected ana qualified. And the board of di rectors shall elect the officers prescribed in this section. at the first meeting of the said board of directors, thereafter, in each and every year, and who shall hold their term of office until their successors are duly elected and qualified.
 SEvRNrH-The officers and directors who are appointed Co manage the affairs of this corporation until the first annual election are: Alonzo Bailey president and director: Joseph II. HaInill, vice president and director; B. r. Hoyt, secretary and director; Alfred kinney, treasurer and director: O N. Creswell. di- rector; l.. w. Leighton, director, and Albert T. Colton. director
 EIGHTH-The highest amount uf indebted. ness or liability Co which this corporation shall subject itself is two hundred thousand dollars NINTH Private property of the members of this corporation shall be exempt from cor porate debts.
 TENTH Among the powers of this corpora. tion shall be: First, to have perpetual suc- cession: second, to sue and be sued in it's cor pOFate name; third, to have common seal and to alter the same at pleasure; fourth, to render the shares or interest of stockholders and prescribe the mode of mak ing such transfers; fifth, to exempt the private of members frsm liability for cor porate debts, which is hereby done; sixth, to make contracts, acquire and transfer property, possessing the powers in such respects as private individuals now enjoy; seventh, to es- tablish bylaws and make rules and rcgula- tons deemed expedient for the management of its affairs, not inconsistent with the laws of the United States and territory of Arizona ELEVENTH These Articles of Incorporation may be altered and amended by two-thirds vote of all stockholders of this corporation at any regular meeting, or any special meeting expressly called for that purpose, and the same shall be filed with the county recorder of Gila county in the territory of Arizona, as required by law. Witness our hands this 10th day of July, 1901. Signed, sealed and delivered in the | presence of Geo. R. Hill.
 ALoNZo BAILEY.
 jos. II. HAMILI,
 B. F. HoYT,
 ALFRED KINNEY,
 0. N CREsWELL,
 l.. w. LEIGHTON,
 F. l.. JONES,
 CLARA KINNEY,
 JAMES K. MCCARTHY,
 J. $. SNrFFEN
 rsggis0ty coa0ty of of GiIa, Ari.ona' ss Before me, George k. Hill, a notary public | in and for the County of Gila, Territory of | Arizona, on this day personally app cared | Alonzo Bailey, B. F. Hoyt, l.. W. Leighton, | Alfred Kinney, F l.. Jones, 0. N. Creswell, l Joseph II. Hamill Clara Kinney, James K | Mccarthy and J. s. Snitfen, personally | known to me to be the persons described in | and who executed the foregoing instrument, | and they and each of them acknowledged to | me that they and each of them executed the | foregoing instrument for the purposes and | considerations therein expressed.
 Given under my hand and seal of office this | 10th day of July, 1901. GEO k. HILL,
 GSEALl Notary Public. My commission expires April Sth, 1902. Iar tf.,r. ,k Ar.ya |