Arizona republican., 1903-01-09
ARTICLES OF INCORPORATION
 OF THE BLACK HILLS SYNDICATE.


 That we, whose hands are hereunto affixed, do hereby associate ourselves together for the purpose of forming corporation under the laws of the Ter ritory of Arizona, and to that end make the following statement:
 First: The names of the corporators are: Edwin G. Potter. Lewis c. Twom bly, Andrew E. Johnson and Carleton L. Wallace of Minneapolis, Minnesota, and Philip $. Harris, of St. Paul. Min nesota, and the name of the corpora ton shall be BLACK HILLS SYNDI. CATE. The principal place in which the business of said corporation within the Territory of Arizona is to be tram sacted is Phoenix, Maricopa county, Arizona, and the principal place of business of said corporation outside the Territory of Arizona shall be the City of Minneapolis. in the State of Minnesota, 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 estab- l.shed by the board of directors.
 Second: The general nature of the business proposed to be transacted by this corporation is as follows. to-wit:
 To make contracts; to purchase. lease, bond, locate or otherwise acquire, own, exchange, sell, or otherwise dis pose of, pledge, mortgage, hypothecate and deal in real estate and any and all kinds of personal property. mines. mining claims, oil lands, mineral lands, stone and marble quarries. fire clays, oil, gas, asphaltum, petroleum, asbes- tos, salt, water and water rights and machinery, and to work, mine, explore, operate and develop the same; and to do a general real estate, manufacturing and mercantile business; to own, han dle and control letters patent and in- ventions and shares of capital stock of other corporations; to borrow money and execute notes, bonds, mortgages. or deeds of trust to secure the same. and to exercise in respect of all such bonds, mortgages, notes shares of cap ital stock and other securities and ob- legations any and all rights, powers and privileges of individual owners thereof, including the right to vote upon any 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 con- duct of the business of this corporation in the territory and elsewhere, not in- consistent with the laws of the United States and the Territory of Arizona
 Thiru: The authorized amount of capital stock of this corporation shall be one million two hundred and fifty thousand dollars G1,250, ,OO0.O0), divided into one million two hundred and fifty thousand shares of the par value of one dollar ($1.0O) each. At such time as the board of directors may by resolution direct, said capital stock shall be paid into this corporation either in cash or by the sale and transfer to it of real or personal property for the uses and purposes of said corporation, in pay ment for 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-assessa- ble, and in the absence of actual fraud in the transaction the judgment of the directors as to the value of the property purchased shall be conclusive.
 Fourth: The time of the commence ment of this corporation shall be 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 thereafter.
 Fifth: The affairs of this corporation shall be conducted by a board of five directors, and the following named shall constitute the board of director g until their successors are elected: ED WIN G. POTTER. LEWIS c. TWOM- ELY, ANDREW F.. JOHNSON CARLETON l.. WALLACE and PHIL IP s. HARRIS. Thereafter the board of directors shall be elected from among the stockholders as the bylaws of the corporation may provide. The officers of said corporation until their successors are elected shall be: ED WIN G. POTTER, President; AN. DREW E. JOHNSON, Vice President: CARLETON l.. WALLACE, Secretary PHILIP s. HARRIS, Treasurer.
 Sixth: The highest amount of in- debtedness or liability. direct or con- tingent, to which this corporation is al any time subject shall be seven hun dred and fifty thousand dollars (s75O.. 000O0), which amount does not exceed two thirds the amount of the capital stock.
 Seventh. The private property of the stockholders of this corporation shall be exempt from corporate debts of any kind whatsoever.
 In witness whereof, we have hereuntC set our hands and seals this twentieth day of November. 1902.
 EDWIN c. POTTER, (Seal) LEWIS c. TWOMBLY, (Seal.) ANDREW F. JOHNSON, (Seal.) PHILIP s. HARRIS, (Seal) CARLETON L. WALLACE. (Seal.) State of Minnesota,
 County of Hennepin, ss.
 On this, 20th day of November, ir the year 1902, before me. Hubert w Potter, a notary public in and for the