Arizona silver belt., 1905-05-11
ARTICLES OF incorporation
OF The Payson Milling Company

Erow All Men by These Presents
That we, the undersigned, have this day
UNFAIRLY associated ourselves togeth-
w for the purpose of forming a corpor-
ot;nn under the now existing laws of
,br Territory of Arizona, and to that
erd adopt the following Articles of In
Il corporation
FrRsT-That j. w. Boardman, Mart
Mcdonald, w. ii. Hilligass, DIR. X. r..
\ Wilson. J. W. Wentworth and w. C..
d CoIcord are the names of the incorpor-
tors and the name of the corporation
Sbai be THE PAYSON MILLING
COMPANY. That the principal place
of business of said corporation shall be
at PaysOn, ella county, Arizona.
SECoNp-That the business proposed
IN 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 shelters, stamp mills, teaching
plants, concentrators, reduction works,
sawmils and such other machinery as
may be required and to do all things as
NAV be necessary and proper to carry
out and execute the objects herein mem
toned.
THIRD-The capital stock of this cor
poratiOn shall be twenty-five thousand
~, 900. O0) dollars, divided into twenty
1--WE hundred (2500) shares of the par
value of ten $50 dollars each, which
NAV be paid in at once or from time to
time and in cash as may be called for
bv the directors of said corporation, or
by conveyance to said corporation of
property which nay 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 parsvalue, only transferable and
worcestershire, 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 audito,, and the
time Of the termination of said corpor-
alton shall be twenty-five years from
and after the date of such fling.
FIFTH-(a) That said corporation
shall be managed by a board of direc-
tors, consisting of FIVE bona fide stock
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, !
and annually thereafter. All elections
Of directors shall be by ballo( and every
stakeholder shall have the right TO vote 1
in person or by proxy the number of
shares in his name on the books of the /
company.
Cb) Said directors shall have author
ity to fill vacancies on the board and to |
adopt rules aud bylaws as they may 4
deem necessary for the government of .
said corporation not inconsistent with .
these articles of Incorporated.
(cl The officers Of this corporation
shall consist of a President, Vice-Presi- |
dent, Secretary md a Treasurer, who
shall be elected annually from and by the
directors Immediately after the election
held by the stockholders, and such offic-
ials and boa,d of directors shall act as
such without compensation. The fol
lowing named persons shall act and con-
stitute tie board of directors of the
corporation until the first annual meet
ing Of the stockholders: J. w. Board
man, Mar Mcdonald, w. II. Hilligass,
DR., R. r. Wilson and j. w. Went
worth.
SXTH-Tlat no Indebtedness or
liability shall be incurred by this
corporation, and that all expenses
for machiney , 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
JOrlty Of the stock actually issued and
outstanding at any annual meeting of
the stockholders, or at any special meet
Tug Of said stockholders called for that
purpose, after giving fifteen days no
tee Of the same, stating the purpose
Tor which such special meeting is call
ed by mailing letter to the last known
postoffice address Of each stakeholder.
EIGHTH The private property of the
stockholders of this corporation shall
be exempt from all corporate debts of
any kind.
1t witness whereof we have here
unto set our hands this 3lst day of ,
March, 1905:
J. w. BoARDMAN,
MART MCDONALD,