Arizona republican., 1903-03-20
First publication March 15, 1903.

First publication March 15, 1903.
 ARTIC LES OF INCORPORATION
 OF THE
 PENNCRE PLACER MINING COM
 PANY.
 KNOW ALL MEN BY THESE PRESENTS. That we, whose hands are hereunto affixed. do hereby associate ourselves together for the purpose of forming a corporation under the laws of the Territory of Arizona. and to that erd make the following statement: FIRST: The names of the corporators are: James A. Mccullough. NJ. HaH R. A. Smith. J. C. Chamberlain. and W. D. p Aims Jr., and the name of the corpcr alton shall be THE PENNORE FLAG FIR MINING COMPANY. The princi pal place in which the business of said Corporation within the Territory of Ar.zona is to be transacted is Phoe- nix. AlaIicopa county. Arizona, and the principal place of business of said Cor pOratiOn ouS.de the Territory Of Ari- zona shall be the City of Philadelphia in the State of Pennsylvania, at which meetings of the Board of Directors may be held. and the Corporation may have such branch offices either within or without the Territory of Arizona as may be established by the Board of Di- rectors.
 SECOND: The general nature of the business proposed to be transacted by this Corporation is as follows, towit:
 To make contracts; to purchase, lease, bond. locate or otherwise acquire. own. exchange, sell or otherwise dis | ,f ,,Io and deal in real estate and any and all kinds of personal property. mines. min ing claims oil lands, mineral lands oil gas asphaltum. petroleum. asbestos, salt. water and water rights and ma chinery. and to work. mine. explore, op- crate and develop the same; to do a general real estate. manufacturing and mercantile business; to own. handle and control letters patent and inven- tions and shares of capital stock of oth- CT corporatios; to borrow money and execute nctes bonds. mortgages, or deeds of trust to secure the same. and to exercise in respect of all such bonds mortga ageS. notes, shares of capital stock and other securities and oblga- tiors any and all rights. powers and privileges of individual owners there
 
 shares of stock held by it to the same extent that a natural person might or could do: and in general to do all things necessary to the proper conGuct of the business of this Corporation in the Ter ritory and elsewhere. not inconsistent with the laws of the United States and the Territory of Arizona.
 THIRD: The authorized amount of -l, be Five Million Dollars dollars (s5.O0O 0Oc). divided into five million shares of the par value of one dollar per share ($1.OO each. At such time the Board of Directors may by resolution direct. said capial stock shall be paid i into this Corporation either in cash or by the sale and transfer to it of real or personal property for the uses ana purposes of said Corporation in pay ment fer which shares of the capital stock of said Corporation may be is sued. and the capital stock so issued shall thereupon and thereby become and be fully paid up and non-assess- q bic. and in the absence Of actual fraud ' in the transaction the judgment of the ] Directors as to the value of the prop ertr purchased shall be conclusive.
 
 mencement of this corporation shall De ! the date of the filing of these Articles | of Incorporation in the office of the Sec retary of Arizona, and the termination thereof shall be twenty-five years there after.
 | FIFTH: The affairs of this Corpora tion shall be conducted by a Board of Five Directors and the following named shall constitute the Board of directors until their successors are elected: ]. A Mccullough, M. Hall. F. 4. Smith, J. C. Chamberlain and W. D. P Aims Jr Thereafter the Board of Directors ! shall be elected from among the stock holders as the bylaws of the corpora- tio1 may provide The officers of said corporation until their successors are elected shall be. J. A. Mccullough, President: NJ. Hall. Vice President: R. A. Smith. Secretary; J. C. Chamber lain. Treasurer.
 SIXTH: The highest amount of iu- debtedness or liability. direct or con- tingent. to which this Corporation is at any time subject shall be Three Mil lion dollars (s3.O00. .000) which amount Gocs not exceed two-thirds the amount of the capital stock.
 SEVENTH: The private property ol the stockholders of this Corpora ton shall be exempt from corporate debts of any kind whatsoever.
 I% WITNESS WHEREOF, We have nereunto set our hands and seals this tlventy-fourth day of February. 1903. JAMES; A. MCCULLOUGH (SeaN M- HALL (SeaD R. A. SMITH, (SeaD J. C. CHAMBERLAIN (SeaD WM. D. F. AIMS, JR. (SeaD State of Pennsylvania,
 County of Philadelphia, ss. ) On this tMentN-seXenth day of E,eb.