Arizona silver belt., 1906-03-01

ing, purchasing and developing mines;
to make contracts; to purchase, lease,
bond, locate or otherwise acquire, own,
exchange, sell or otherwise dispose OF,
pledge, mortgage, hypothecate and
deal in real estate and any and all kinds
of personal property, mines, mining
claims, oil lands, mineral lands, coal
lands, oil, gas, asphaltum, coal, petro,,
leum, water and water rights and
machinery, and to mine, work. explore,
operate ana develop the same; to engage
in and carry on the business Of treat
ing, smelling or otherwise reducing
ores, refine copper and other metals,
and to sell the products thereof; to
build railroads, electric roads, electric
light and power lines, telegraph and
telephone lines and operate the same;
to do general mercantile and manu-
featuring business; to construct and
maintain reservoirs, waterworks, dams
and aqueducts; to borrow money and
execute notes, bonds, mortgages or
deeds of trust to secure the same, and
in general to do all things necessary to
the proper conduct Of the business OF
this corporation in the Territory OF
Arizona and elsewhere, not inconsistent
with the laws of the Territory OF
Arizona and of the United States.
ARTICLE III. The authorized amount
of the capital stock of this corporation
shall be Two Million Dollars ($2,OOO,-
000 00), divided into Two Million Shares
of the par value of One Dollar (Sl.OOl
each. At such time as the board of
directors may by resolution direct, the
capital stock shall be paid into this
corporation, either in cash or by the
sale and transfer to it of real and per-
soral property for the uses and pur-
poses of this corporation, in payment
for which shares of the capital stock of
this corporation may be issued; and the
capital stock so issued shall thereupon
and thereby become and be fully paid
up and worcestershire, and in the
absence of actual fraud in the trans ac-
ton the judgment of the board OF
directors as to the value of the prop
erty purchased shall be conclusive.
ARTICLE V.-The time of the COM
mencement of this corporation shall be
the date of the filing of certified copy
of these Articles of Incorporation in
the office of the Auditor of Arizona
Territory, and the termination thereof
shall be twenty-five (25) years there
after.
ARTICLE V.-The affairs of this cor
poration shall be conducted by board
of directors of not less than three nor
more than seven persons, elected annu-
ally by and from among the stockhold-
ers of this corporation. The first
annual meeting of the stockholders for
this purpose and for the transaction of
such other business as may properly
come before them, shall be held on the
first Friday of May, A. d. 1906. and
annually thereafter on the same day.
The officers Of. this corporation shall
consist of president, vice-president, a
secretary and treasurer which latter
offices may be segregated by the
board of directors. Until such board
of directors shall have been elected
the following named persons, who are
! each subscribers to one share of the
capital stock of this corporation shall
constitute the board of directors:
Joseph Pfister, Edward F. Pfister and
Chas. T. Martin, who shall organize
and elect the officers of the corporation.
Such board of directors shall have
power to fill all vacancies in such board
or the officers of the corporation,
caused by resignation or otherwise, and
until their successors are elected and
qualified such board and such officers
are hereby given the power and author
ity to do and perform any and all duties
usually appertaining to like offices,
which powers and duties while so acting
as such officers and directors of this
corporation, shall include the adoption
of corporate seal and the affixing
thereof to any stock certificates or
other instruments of writing necessary
or proper, as well as the adoption of
the necessary bylaws for the proper
conduct of the affairs of this corpora
ton.
ARTICLE VI.-The highest amount of
Indebtedness or liability, direct or con-
tingent, to which this corporation shall
at any time subject itself shall be and
is hereby fixed at the sum of Five
Hundred Thousand Dollars $500, 000. 00),
which amount does not exceed two
thirds of the amount of the authorized
capital stock of this corporation.
ARTICLE VII. The private property
of the stockholders of this corporation
shall be exempt from liability for the
payment of corporate debts.
In witness whereof we have here
unto set our hands this 23rd day
e -, A n