Arizona silver belt., 1905-05-25
ARTICLES OF INCORPORATION
OF The ayson Milling Company

Know All Men by These Presents
That we, the undersigned, have this day
voluntarily associated ourselves togeth-
or for he purpose of forming a corpor-
alton under the now existing laws of
the Territory of Arizona, and to that
end adopt the following Articles of In
corporation
FIRST That j. w. Boardman, Mart
Wilson. J. w. Wentworth and w. C..
Cocord are the names of the incorpor-
ators. and the name of the corporation
S6ali be THE PAYsON MILLING
COMPANY. That the principal place
of business of said corporation shall be
at Payson, ella county, Arizona.
SECOND That the business proposed
TO be transacted by this corporation is
that of quartz milling and treatment,
extracting, concentrating, reducing,
smelling and refining copper, gold, sill
yer and other ores to erect and oper-
ate Smelters, stamp mills, teaching
plants, cOncentrators, reduction works,
sawmils and Such other machinery as
may be required and to do all things as
may be necessary and proper to carry
out and execute the objects herein men
toned
THIRD The capital stock of this cor
poration shall be twenty-five thousand
tS25, 600. OO) dollars, divided into twenty
five hundred (250O) shares of the par
value of ten $1,000 dollars each, which
may be paid in at once or from time to
time and in cash as may be called for
hy the directors of said corporation, or
hv conveyance to said corporation of
property which may be purchased by
said corporation, or for services or
labor performed for said corporation,
but in all cases such stock shall be is
sued at par,value, only transferable and
nou-aSSessable and the judgment of
the board of directors as to the prices
paid and 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 certified copy of
these articles of incorporation in the
office of the Territorial auditor, and the
time of the termination of said corpor-
alton shall be twenty-five years from
and after the date of such filing.
FIFTH Cal That said corporation
shall be managed by a board Of direc- /
tors, consisting of five bona fide stock 4
holders therein, who shall be elected by |
the stockholders of said corporation at /
the first annual meeting TO be held on /
the second Monday in December. 1905, 1
and annually thereafter. All elections /
Of directors shall be By ballot and every /
stakeholder shall have the right TO vote |
in person or by proxy the number Of |
shares in his name on the books of the /
company,
lbD Said directors shall have author I
ity 20 fill vacancies on the board and to /
adopt rules aud bylaws as they may
deem necessary for the government of /
said corporation not inconsistent with I
these articles of incorporation.
lcD The officers of this corporation /
shall consist of a President, Vice-Presi- |
dent. Secretary and a Treasurer, who /
shall be elected annually from and by the /
directors Immediately after the election 1
held by the stockholders, and such offic- |
ials and board of directors shall act as |
such without compensation. The fol- 1
lowing named persons shall act and con
stitute the board Of directors of the /
corporation until the first annual meet l
ing Of the stockholders: j. w. Board |
man, Mart Mcdonald, w. II. Hilligass, |
DR., K. r. Wilson and J. w. Went
worth
SIXTH That no Indebtedness or
liability shall be incurred by this
corporation, and that all expenses
for machinery, buildings, improve
ments, labor, supplies and material
purchased or secured otherwise by this
corporation shall be paid for from the
sale Of stock, or profits that may be
derived from and through the actual
business calling Of this corporation.
SEVENTH These articles of incorpor-
alton may be amended only by ma
jorIty Of the stock actually issued and
outstanding at any annual meeting of
the stockholders, or at any special meet
lug Of said stockholders called for that
purpose, after giving fifteen days no
tee of the same, stating the purpose
for which such special meeting is call
ed by mailing a letter to the last known
postOihce address Of each stakeholder
EIGHTH The private property Of the
stockholders of this corporation shall
be exempt from all corporate debts of
any kind
IL witness whereof we have here
unto set our hands this 31st day of |
March lgO5