The oasis., 1907-07-13
ARTICLES OF INCORPORATION
 OF THE PENNAMEX MINING COMPANY.

KYow ALL MEN BY THESE PRESENTS: That we, whose hands are hereuntO affixed do hereby associate ourselves together for the purpose of forming corporation under the laws of the Territory of Arizona, and to that end make the following statement:
 FIRST: The names 0t the corpOratorS are D. B. Maxwell, T. C. Price and k. c. Hoting and the name of the Corporation shall be THE PENNAMEX MINING COMPANY. The prin- cipal place within the Territory of Arizona in which the business of said Corporation is to be transacted is Nogales, Santa Cruz County Ari- zona, and the Corporation may establish branch offices either within or without the Territory of Arizona where meetings of the Board of Directors may be held.
 SECOND: The general nature Of the business proposed to be transacted by this Corporation Is as follows, toWit
 To transact general mining and reduction business, with full powers as herein set forth, as follows to-wit,
 Co make contracts: t. purchase lease, bond, locate or otherwise acquire, own, exchange, sell or otherwise dispose oi, pledge, mortgage, hyp1thecate and deal in real estate and any and all kinds of personal property mines, min ing claims, oil lands, coal lands. mineral lands, oil, gas, coal shale, asphaltum, petroleum, asbestos, salt, water and water rights and ma chinery, 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 Corporation in the Territory and elsewhere, not inconsistent with the laws of the United States and the Territory of Ari- 
 THIRD: The authorized amount Of capital stock of this Corporation shall be Twelve Hun dred and Fifty Thousand dollars (S1.250,000) div lded into twelve hundred and fifty thousand shares of the par value of one dollar (Sl00) each. At such time as the Board ot Directors may by resolution direct, said capital stock shall be paid into this Corporation, either in cash or by the sale and transfer to 1t, of real or personal property for tee uses and purposes of said Cor poration. in payment for which shares of the capital stock of said corporation may be issued and the capital stock so issued shall thereupon and thereby become and be fully paid up and non-assessable, and in the absence of actual fraud in the transaction, the judgment of the Directors us to the value of the property pur chased shall be conclusive.
 l FOURTH. The time Of the commencement oi this corporation shall be the date of the filing of certified copy of these Articles of lncor poration in the office of the territorial auditor and of the recorder Of santa Cruz County, anC the termination thereof shall be twenty-five | wears thereafter.
 FIFTH: The affairs of this corporation shal be conducted by board of seven @ directors 1 and the following named shall constitute the l Board of Directors until their successors art elected D. B. Maxwell T. c. Price, J E: Digby i R. c. Hoting, c. H, Bruckman, 0. J, Il. Negbee and Guy K. Campbell. Thereafter the Board O. | Directors shall be elected from among tht 1 stockholders on the first Tuesday in Januar! l of each year. The officers of said Corporation until their successors are elected snail De l D B. Maxwell President; J. F. Digby, Vice 1 President; J. H. Mering, Secretary; C. C. Hot ing, Treasurer
 SIXTH The highest amount of indebtedness or liability direct or contingent, to which thl' Corporation is at any time subject shall bt Five Hundred Thousand Dollars ($50O,00O00) which amount does not exceed two-thirds th' amount of capital stock.
 SEVENTH: The private property of the stock holders of this corporation shall be eXemp from corporate debts of any kind whatsoever.
 In witness whereof, We have hereunto SC our hands and seals this Srd day of July, l9oI
 D. B. MAXWELL [SEAL.l
 T. c. PRICE SEAL.
 R. C. HOPING lSEAL.l