Arizona republican., 1902-03-09

Of Directors and shall hold thelf OIllcVS for term of one CD year and until their successors are elected and qual- 1 fled: said officers shall receive such ! compensation as the Eoa?} of Direct , ors may determine. if approved by the holders of q r2jority Oi the issiied | stock.
 The meetings of the Board of Ei- rectors shall hr hcli ii sIch places in the Territory of Arizona and at such times as the majority of the said board shall determine and all such meetings. at which q najority of the Directors shali be tlr,'scilt, shall 5e regular meet ng-s. The Eoard of Directors may also hold meetings In such places with out the Territory If Arizona and at such times as all OF said Directors may unanimously dc;ei mine
 The annual meetings of the stoe 2- holders shall be held on the first Mon day in May of each year. and other regular meetings may b. held at such times and at such places within th- Territory Of Arizona az may be des ignated by the holders of the tla aioritE of the issued stock of the corporation. The Eoard of Directors shall have full power to sell or exchange the shares of the capital stock of this ' ing claims or other real estate for mills, smelters, hydraulic plants or any : ether kind Of machinery or for any other kinf 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 tine 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 resula tionS deemed ! eXped-cnt for the mana cement of the affairs of the corporation and to ap- | point and employ all necessary agents, i servants and labOrcTs and fix the com ! pensation for the same. If any Df- rector shall cease to be a stockholder. ! he shall thereby and thereupOn cease i to be Director. and the remaining Di- i rectors shall elect stockholder to fill l said vacancy until the next annual 1 meeting of stockholders.
 ARTICLE VI.
 [ The highest amount of indebtedness. l tiirett or contingent. to which this ccr- 1 pcration may at any time be subject 1 shall be the sum of Two Hundred Thousand CS2oo, 100000 Dollars. ARTICLE VII
 1 The officers and the Stockholders of i this corporation and their private property shall always be exempt from i any and all liability fer the debts Of this corporation.
 ARTICLE VIII.
 The stockholders may be present by |. proxy at any and all meetings Of the i stockholders and vote upon all cues tions as though present in person. pro- 1 vided always taat such proxy shall be held ard voted by q stockhol,ier of the i corporation.
 ARTICLE IN.
 These articles may be amended at any regular meeting O. the stockholsI- CTS by the affirmative vote of three fifths (3-5) of all the stock present at such meeting. provided that suc h three -fifths (3-5) present shall be at least one-han Ga) of all of the stock issued; and provided that at any meet ing other than an annual meeting. that notice of the intended amencment has been given the stockholders with the notice of the. meeting at which such amendment is submitted for action.
 ARTICLE x.
 This corporation may at any ::,ne. and from time to time. when the same shall be decided and determined by either the stockholders or the Direct ors. issue preferred stock, not exceed ing in amount in the aggregate two hundred thousand shares. and may provide by proper resolution or con tract with the purchasers or subscrib- CTS of said stock that the same shall be Q its or the property and profits of the corporation after its indebtedness. and that the holders thereof shall be en- titled to receive from the net earnings of the corporation on q dividend not exceeding ten per cent per annum payable semi-annually or annually and to have such interest or dividend payable in full each and every Yeal before any payments of interest or div iGendS upon the other or common stock: and wherever the net earnings of the corporation which shall be ap- piled in the payment of interest oi dividends on the preferred stock and oI interest or dividends upon the com mon stock shall be more thar sufficient to pay both said in terest on said preferred stock ir full and the same per cent dividend upon the common stock for the year il which said net earnings are so applied | then the excess of such net earnings after such payment shall be divided upon the preferred and common shares 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 preferred stock make any provision that may bt deemed proper for the redemption anI cancellation of such preferred stock and may also restrict or deprive sucT stock of the right to be voted at any cl all stockholders meetings.
 IN WITNESS WHEREOF We hay, hereunto set our hands this 2nd day O January. A. D. 1902.
 R. r. PORTER
 J. ELLIOTT WALKER. l.. H. LANDS.
 } EDWARD ElSELE. AKTfIUR J. EDWARDS. Territory of Arizona.
 County of AIaricopa. ss.