Arizona republican., 1907-02-20


 left standing in the mines.
 The directors must not sell said ore upon the dumps or standing in the mines with any specific guarantee as to the actual value of said ore, but all sales must be made as speculative sales, and the buyer must purchase same upon his own risk, be the profit to him large, or the loss heavy.
 Seventh: Dividends may be declared by this company from the profits of mining smelting or the sale of ore ex- tracted from the mines, blocked out, to ore speculators or custom mills or smelters or through the treatment of ore by this company itself, or through the buying of property and the selling of the same. The buying and selling of mining contracts, the buying and sell ing of mills, and machinery or from any other branch of business author ized under this charter. all the net profits may be used to retire any is sued preferred stock, but whenever dividends are declared, it must be stat ed on the face of the dividend notice, the branch of business from which said profits are derived.
 Eighth: The principal office of this company shall be at Phoenix, Arizona but it may have branch offices in any city of the United States and special meetings of directors and stockholders may be held in any city of the United States and in event the company should own and operate mines in any foreign country an office may be established in that foreign country.
 Stockholders meetings may be held by giving ten days notice by mail to the various stockholders of record, ad- dressed to the best known post office address of each shareholder the major ity vote of the issued stock when cast in a stockholders meeting shall be final and binding upon the entire capital stock; notices shall be signed by the president or secretary and such notices duly signed shall be legal notice for stockholders meeting. The annual meeting of the stockholders must be held in Arizona.
 Ninth: The private property of each stOckholder or officer of this corpora tion shall be exempt from corporate debts and the buyers of the capital stock of this corporation will buy the same as speculative in value.
 Tenth: The highest amount of in- debtedness to which this corporation may at any one time subject itself. shall be two million five hundred thou sand dollars, unless eight-tenths of the holders of the total capital stock may in a stockholders meeting decide to in- crease such indebtedness. The annual interest on bonds or mortgages issued or assumed by this company shall be classed as liabilities, but the principal of said mortgages will not be assumed without special approval of the major ity of the stockholders.
 Eleventh: The officers of this corpo- ration to conduct it's affairs shall con- sist of a board of directors composed Of three members to be elected at a general meeting of the stockholders or incOrporators upon the filing of this certificate of incorporation. The num- Der of members may be increased to fifteen. They shall hold office for one year or until their successors are elected.
 Twelfth: The parties associating themselves together for the purpose of forming this corporation are Henry B. Clifford of New York City, Maude NJ. Cnfford or New York City and Ehud N. Darling of Washington, D. c. Each of the incorporators subscribe for ten shares of the capital stock.
 Thirteen: Property may be acquired by individual agents of this corpora tiOn and held by them as trustees for | t,F ,Fg directors may elect to have the same transferred 10 this corporation. A di- rector of this corporation owning in- dividual property or contracts may sell the same to this company.
 Fourteenth: The incorporators or di- rectors may adopt d seal for this cor poration which shall be circular in form and inscribed with the following: "Clifford Mining Company, Incorpo- rated Arizona 1906"
 Fifteenth: The directors shall elect from their number a president. vice president, secretary and treasurer; the president may be general manager; the secretary need not be director, if the directors so elect and the office of sec retary and treasurer may be filled by one person.
 Sixteenth: The time Of commence ment of this corporation shall be the 9th day of October 1906, and the time Of expiration the 9th day of October 1881.
 In witness whereof. we have hereunto set our hands and seals this 9th day of october. 1906.
 In the presence of Frank Cochrane In the presence of Harry J. Turton.
 HENRY B. CLIFFORD, (SeaD
 Ten Shares.
 MAUDE H. CLIFFORD, (SeaD
 Ten Shares.
 EHUD N. DARLING, (SeaD
 Ten Shares. State of New York, County of New York, ss.
 On this 9th day of October 1906, be- fore me personally appeared Henry B. to me known, and known to me to be the individual described in and who executed the foregoing instru- ment and he duly acknowledged that he executed the same.
 (SeaD FRANK COCHRANE, Public (6) New York County. My commission expires March 30 1907.
 State of New York, County of New York, ss.
 On this 10th day of October in the