Arizona silver belt., 1905-09-28

alton may have such branch offices,
 either within or without the Territory
 oI Arizona, as may be established 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 dispose of,
 pledge, mortgage, hypothecate and deal
 m real estate, and any and all kinds of
 personal property, mines, mining claims,
 oil lands, mineral lands, oil, gas, as phaltum, petroleum, asbestos, salt,
 water and water rights and machinery, and to work, mine, explore, operate and develop the same, and, in a gener- al way, to do all things necessary to the proper conduct of the business of this Corporation, in the Territory and else where, not inconsistent with the laws of the United States and the Territory of Arizona; and to construct, maintain and operate such railroad or tramway as may be deemed necessary or conve- ment between its principal works or mlning premises and some existing rail road, or public highway.
 THlRD-The authorized amount of capital stock of this Corporation shall be One Million Dollars ($l, 900, 0O0), di- vided into one million shares of the par value of One Dollar ($l. .00) each. At such times as the Board of Directors may by resolution direct, said capital stock shall be paid into this Corpora tion, either in cash or by the sale and transfer to it of real or personal prop erty, for the uses and purposes of said Corporation, in payment for which shares of the capital stock of said Cor poration may be issued, and the capital stock so issued shall thereupon and thereby become and be fully paid up and non-assessable, 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 in the office of the Coun- ty Recorder, and the termination there of shall be twenty-five years there after.
 FIFTH-The affairs of this corpora tion shall be conducted by Board of five (5) Directors, and the following named shall constitute the Board of Di- rectors until their successors are elect ed: w. w. Kaye, H. W. Klipstein, Jr., C. V. Anderson, T. E. Klipstein, and E. L. Foster. Thereafter the Board of Directors shall be elected from among the stockholders on the second Satur- day of April of each year The officers of said Corporation, until their success sors are elected, shall be w. w. Kaye, President; E. l.. Foster, Vice Presi- dent; H. w. Klipstein, Jr., Secretary; and c. V. Anderson, Treasurer.
 SIXTH-The highest amount of in- iebtedness or liability, direct or orcontin- gent, to which this corporation is at any time subject, shall be One Hundred Thousand Dollars ($100, ,O0O), which amount does not exceed two-thirds the of the capital stock.
 SEVENTH private property of the stockholders of this corporation shall be exempt from corporate debts of any kind whatsoever.
 In witness whereof. we have hereun to set our hands and seals this 18th day of July, 1905.