Arizona republican., 1906-11-18
ARTICLES OF INCORPORATION
 Of the LEASING & DEVELOP ING COMPANY.


 that we, Walter S. Dillon, c. Y.
 Boardman and Alexander McHugh. each of whom is a citizen of the Unit ed States of America, being desirous of forming a corporation under the
 laws of the territory of Arizona, have
 this day voluntarily associated our
 selves together into a body corporate and do hereby make. sign and acknowl-
 edge. each for himself. and do adopt these articles of incorporation, and do hereby certify:
 FIRST. The name of this corporation and by which 1t shall be authorized to act is TALMAGE LEASING DE- VELOPING COMPANY.
 SECOND. The names of the incorpo- rators are. Walter s. Dillon. C. Y. Boardman and Alexander McHugh, and the principal office or place for transacting business of this corporation shall be in the city of Phoenix. coun- ty of MaricOpa, territory of Arizona, but branch offices may be kept and maintained at such other place or places, either in the United States or America or foreign countries, as the board of directors may from time to time determine. At any of these off ces meeting of the stockholders and directors may be held and all business transacted.
 THIRD. The amount of the capital stock of this corporation shall be two hundred and fifty thousand dollars (s25O. 0OO) divided into two hundred and fifty thousand shares (25O, ,0OO) or the par value of one dollar (sl.0O) each.
 At such times and under such condi- tions as the board of directors may di- rect. such capital stock shall be paid into the corporation either in cash or by sale and transfer to 1t of real or personal property or by services for the use and purpose of said corporation fin payment of which. snares or the capital stock shall be issued. and said stock when issued shall be fully paid and non-assessible, and the judgment of the board of directors as to the value of the property purchased or ser vices rendered shall be conclusive.
 The capital stock may DC increased or decreased by the affirmative vote of the majority of the stock then issued. but in case of the increase of the cap ital stock, each stockholder shall have the privilege of subscribing for such number of shares of the proposed in- crease as he may be entitled to. accord ing to the number of shares held by him before the stock is increased.
 FOURTH. The time of the com of this corporation shall be the day of the filing of its articles of incorporation in the office of the county recorder of said MaricDpa coun- ty. and certified copy in the office of the auditor of the territory of AriZo- na, and the termination thereof shall be twenty-five C25) years thereafter.
 FIFTH. The business affairs of this shall be conducted by the board of directors, consisting of elev- en CID members each of whom shall be a stockhOlder. and whenever di- rector ceases to be a stockholder. he shall at the same time cease to be n director.
 The directors shall be elected annu- ally by the stockholders at their annu- al meeting. which shall be held on the first Monday in November each year after the year 1906. Said meeting to be held in any of the offices of the and they shall hold their offices until their successors are duly elected and qualified.
 Voting at such stockholders meeting may be either in person or by proxy duly given in writing at least five (5) days before the converting of such meeting.
 Any vacancies in the said board of directors may be filled by the remain ing members of the board by appoint sl. IL -h..IN and such appointment shall be for the unexpired term for which the appoint ment is made.
 The first board of directors. shall consist of the following persons: Wal | ter s. Dillon. c. Y. Boardman and AL exander McHugh and eight (s) others to be named by said board. The ma jority of the board of directors shall constitute a quorum for the transac- tion of business.
 SIXTH. The board of directors may choose a committee of three from their members, to be known as an executive committee, which com mlttee shall act instead of the regular board and whose powers shall be emu merated and set out more fully in the bylaws of this corporation.
 The highest amount of indebtedness 1 or liability either direct or contingent. to which this corporation is to be at any time subject shall not exceed the | sum of one hundred and fifty thousand dollars Cs150.OO0.0O). and the private ]! property of the stockholders of this 1 corporation shall be exempt from the payment of its corporate debts.
 SEVENTH. The general nature of the business proposed to be transacted | by this corporation is to locate, buy, l bond, acquire, hold. lease. own, pos sess. operate or sell or otherwise dis pose of mines and mining claims, or prospects of gold. silver or copper and | all other minerals, and all kinds of !! mineral lands or properties; to buy | lease or otherwise acquire. to hold and | own. manage. operate. improve. mort | gage, sell or convey or otherwise dis | pose of any developed lands. conces- | sions, franchises. mining claims. oil |