Arizona republican., 1902-03-11

TOT term Of one Q) year anu uhlli their successors are elected and quail flied: said officers shall receive such compensation as the Board of Direct ors may determine. if approved by the holders of majority of the issued stock.
 The meetings of the Board of Di- rectorS shall be held in such places Tn the Territory Of Arizona and at such times as the majority of the said board shall determine and all such meetings, at which ma iority of the Directors shall be present. shall be regular meet ings. The Gn9rd of Directors may also hold meetings in such places with out the Territory of Arizona and at such times as all of said Dire; tors may unanimously determine.
 The annual rleet!ngs of tae stock holders shall be held on the first Mon day in May of each year, and otha!' regular meetings may be held at such times and at such places within the Territory Of Arizona as may be des- igna ted by the ho':t"r- of the majority of the issued stock oS t.9e corporation. The Board of Directors shall have full power to sell or exchange the shares of the capital stock of this cor poration for mineral lands. mines. min ing claims or other real estate or for mills snelters, hydraulic plants or any other kind of machinery or for any other kind of personal property or for any and all kinds of labor or services needed in carrying on the business of the corporation on such terms as said Directors may think best. or to sell the same for cash or to exchange the same for shares of the capital stock of other corporations.
 The Directors shall have power to make, establish. amend or repeal all bylaws. rules and regula tions deemed eSpedient for the management of the affairs of the corporation and to ap- point and employ all necessary agents. servants and laborers and fix the com persation for the same. If any Di- rector shall cease to be a stOckholier. he shall thereby and thereupon cease to be Director. and the remaining Di- . rectors shall elect stockholder to fill said vacancy until the next annual meeting of stockholders
 ARTICLE VT.
 The highest amount of indebtedness. direct or contingent, to which this cor poration may at any time be subiect shall be the sum of Two Hundred Thousand ($2OO. .OC0.OO) Dollars.
 ARTICLE VII.
 The officers and the stockholders of this corpore ton and their private property shall always be exempt iron, any and all liability for the debts of this corporation.
 ARTICLE VIII.
 ! The stockholders may be present by proxy at any and all meetings of the stockholders and vote upon all Ques- tiOns as though present in person. pro- vided always that such proxy shall be held and voted by q stockhoider lf the corpora ton.
 ARTICLE TX.
 These articles may be amended at any regular meeting O. the stockhold CTS by the affirmative vote of three fifths (3-5) of all the stock present a such meeting. provided that sucf three-fifths (3-5) present shall be a least o1e-hGlf (la) of all of the stocl issued: and provided that at any meet ing other than an annual meeting, tha notice of the intended amencment ha: been given the stockholders with the ] notice of the meeting al which sucf amendment is submitted for action
 ARTICLE x.
 This corporation may at any t:me and from time to time, when the sam, shall be decided and determined D, either the stockholders or the Direct ors, issue preferred stock. not exceed ing in amount in the aggregate tw' hundred thousand shares. and ma, provide by proper resolution or con tract with the purchasers or subscrib CTS of said stock that the same shall b. and remain first claim upon the prof it's or the property and profits of tn, corporation after it's indebtedness. an, that the holders thereof shall be en titled to receive from the net earning of the corporation on q dividend no exceeding ten per cent per annum payable semi-annually or annually and to have such interest or dividen, payable ir full each and every yea before any payments of interest or div idenGs upon the other or commo, stock; and whenever the net earning of the corporation which shall be ap piled in the payment of interest O dividends on the preferred stock and O interest or dividends upon the com mon stock shall be more thai sufficient to pay both said in terest on said preferred stock il full and the same per cent dividenc upon the cOTmOn stock for the year il which said net earnings are so applied then the excess of such net earning after such payment shall be divide; upon the preferred and common share equally share by share. This corpora tion may by proper resolution or con tract. by the Directors or stockholders at the time of issuing such preferre; stock make any provision that may b deemed proper for the redemption ant cancellation of such preferred stock and may also restrict or deprive suCl stock Of the right to be voted a any O all stockholders meetings.
 IN WITNESS WHEREOF We hav hereuntO set our hands this -nd day o January, A. D. 1902.
 R. F. PORTER
 J. ELLIOTT WALKER
 l.. II. LANDS.
 EDWARD ETSELE.
 ARTHUR J. EDWARDS. Territory of Arizona.
 County of MaricoDa. ss.
 Before me, J. W. Walker a Notar, Public in and for the County of Mari