Arizona republican., 1903-03-15
ARTICLES OF INCORPORATION
 OF THE PLACER MINING COM
 PANY.

ARTICLES OF INCORPORATION OF THE
 PENNORE 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 O! forming a corporation under the laws of the Territory of Arizona, and to that end make the following statement:
 FIRST: The names of the corporators are: James A. Mccullough, M. Hall R. A. Smith, J. c. Chamberlain, and ". D. P Aims Jr., and the name of the corpor ration shall be THE PENNORE PLACER MINING COMPANY. The prlncipa place in which the business of said Corporation within the Territory of Arizona is to be transacted is Phoe- nix. Maricopa county, Arizona, and the principal place of business of said Cor poration outside the Territory of Ari- zona shal! 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 Dl- rectors
 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, 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 notes, bonds. mortgages or deeds of trust to secure the same. and to exercise in respect of all such bonds mortgages notes, shares of capital stock and other securities and obliga- tions any and all rights, powers and privileges of individual owners there of, 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 conduct of the business of this Corporation in the Ter ritory and elsewhere. rot inconsistent with the laws of the United States and the Territory of Arizona.
 THIRD: The authorized amount ot lii cI,o be Five Million Dollars dollars (s5, 0G0), divided into five million shares of the par value of one dollar per share (S1.C0) each. At such time as the Board of Directors may by resolution direct, said capial 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-assess- able and in the absence of actual fraud in the transaction the judgment of the Directors as to the value of the proo- erty purchased shall be conclusive.
 FOURTH: The time of the con- mencement of this corporation shall De the date of the filing of these Articles of Incorporation in the office of the Sec rotary 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 t1,a shall constitute the Board of directors until their successors are elected: J. A. Mccullough, M. Hall. R. A. 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- tion may provide The officers of said corporation until their successors are elected shall be. J. A. Mccullough, President; M. Hall, Nice-President: R. A. Smith, Secretary; J. C. Chamber lain, Treasurer.
 SIXTH: The highest amount of in- debtedness or liability, direct or con- tingent, to which this Corporation is at any time subject shall be Three Mill lion dollars (s3,000.O0 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 hereunto set our hands and seals this twenty fourth day of February. 1903.
 JAMES A. MCCULLOUGH (SeaD
 M. HALL, (SeaO
 R. A. SMITH, (SeaD
 j. c. CHAMBERLAIN (SeaD
 VIM. D. P. AIMS, JR. (SeaD State of Pennsylvania,
 County of Philadelphia. ss.
 On this twenty-seventh day of Feb ruary. in the year 1903, before me, Err nest N. Ross, notary public in and for the state and county aforesaid, re- siding therein, duly commissioned and sworn, personally appeared James Mc- Cullough, R. A. Smith, J. c. Chamber lain and Vim. D. P. Aims. Jr., known to me to be the persons described in, whose names are subscribed to, and who executed the annexed instrument, and they acknowledged to me that they