The Arizona sentinel., 1906-05-09

other precious metals, to buy iand sell ores l operate smelters, mills and other Production plants, to make contracts; to purchase, lease, bond, locate or otherwise acquire, own, ex- change, sell or otherwise dispose of, pledge mortgage hypothecate and deal in real es- | tate and any and all kinds of personal prop erty; mines, mining claims, oil lands, coal lands, mineral lands oil, gas, coal, shaie as- phaltum, petroleum, asbestos. salt. water and water rights and machinery, and to work mine, explore, operate and develop the same; and in general to do all things necessary to | the proper conduct of the business of this 1 Corporation in the Territory and elsewhere. not inconsistent with the laws of the United States and the Territory of Arizona. The amount oJ the authorized capital stock | of this Corporation Is Five Hundred Thous- and Dollars, (S50O. .OO0,) divided into Five Hun dred Thousand Shares of the par value of one dollar, (Slo0 each; and such stock hall be | non 'assessable.
 The said Stock may be issued for subscrip- ton in cash. or in consideration of any other property, real or personal
 The time when such cash subscriptions or
 
 time of the issuance of the said stock, and the condition upon which said cash subscrip- 1 tions or property, real or personal, is to be paid in, shall be determined by resolution of the Directors of the Corporation authoAz- ing the issue of such stock to the person or persons named in the resolution in consider ation of cash subscription or the transfer to the Corporation of properly. reai or persoual iy,l d hi, flo Directors of the value Of such property, real or personal. paid in for stock, shall be cons elusive as to it's value.
 The said Company may retain any propor- ton thereof in its treasury and may sell or contract to sell the same by vote Of the ma jority of it's Board of Directors, or in such manner as it's by-iawS may provide.
 The time for the commencement of this Corporation shall be when the Articles are filed for record In the office of the County Re- corder of the County Of Yuma; the county where it's principal place of business is to be; and q certified copy filed in the office of the Territorial Auditor, and its termination shall be twenty-five (25) years thereafter.
 V.
 The highest amount of indebtedness or la- bility, direct or contingent, to which this Cor poration is at any time to be subjected is the sum of Fifty Thousand Dollars (s5O,000)
 VI.
 The stockh of this corporation and their private property snail be exempt from corporate debts of this Corporation, and the stock shall be non-asscSsable.
 The affairs of this Corporation are to be, and they shall be conducted by Board of Directors. consisting of five Directors, who shall be elected annually on the first Monday of January of each year next ensuing, pro- vided that said Board of Directors may elect such officers and appoint such committee or committees from their own number to aid in the management of the business and in the conduct of the affairs of said Corporation, as they may see fit, and vest in such officers and said committee all such powers as they may deem expedient.
 The following named persons shall consti tute the Board of Directors ofthis Corporation until their successors, duly qualified, shall
 
 Geo. R. Bentel, T. H. Dudley. W. A. Bowles, II. L. Percy, w. C.. Tonkin: and until the first annual meeting of the stockholders, the Board of Directors shall consist of five mem- berS.
 Vacancies Tn the Board of nirectors shall be filled by the remaining members Of the board, or by vote of the stockholders at a special meeting called by the president for that pur- pose.
 Immediately, or as soon as practicable, after the filing of these articles for record in the office Of the County Recorder of Yuma County, Territory of Arizona, and the filing of a certified copy in the office of the Terri toral Auditor, the persons named herein to serve until their successors, duly qualified, l shall be elected, shall meet and organize as Board of Directors, adopt bylaws and pre- scribe In said bylaws the method of calling | meetings of the Board of Directors and | stockholders. A majority of said Directors shall be qno- rum, and any meeting of said board at which | q quorum Is present shall be deemed a regu. l lar meeting and shall have the same author l ity as If the full board were present.