Arizona republican., 1907-02-20

(g) To build, own maintain, sell and
 lease, sampling plants wherein ore may
 be sampled and bought for this corpo-
 ration, or the value of the ore ascer-
 tained for others. To build, own, lease.
 buy and sell laboratories wherein as- says may be made. To own and oper- ate wagon, aerial or surface tramways for the transportation of ores, or to rent or acquire, right of way over the
 tracks of other railroads over which
 the products of mines may be carried, this corporation supplying its own cars if deemed necessary.
 (h) To lease, locate, buy and operate
 tunnels, or tunnel rights, projected to
 cut veins of ore to supply power to tunnels now in course of construction. To lease, or operate upon royalty, mines cut by tunnels or worked by shafts. To make contracts With mine owners or corporations to treat ore. To make contracts with railroad companies to carry products from mines, mills and smelters.
 O To purchase, sell and own the shares of any mine, mill or shelter company, or any water power light or heat company directly connected with the district in which this corporation may be operating. To guarantee the interest upon any mine, mill. power or shelter company's bonds or stock. To buy, sell and hold options upon timber lands needed by this corporation in its operations, and generally, to do all that may be necessary for the successful carrying on of the business of mining, milling and smelting, and the gener- ating and supplying of power of all kinds, the establishment and the main- taining of local telephone companies, stores, etc.. connected with this corpo- ration.
 Fourth: The directors may declare dividends upon the issued treasury stock sold for cash before the stock issued for property services or con- tracts participates In the profits of this corporation, provided the majority holders of such stock waive their rights in favor of those paying cash for treas ury stock. The directors of this corpo- ration may issue ore certificates against the ore owned or controlled by this corporation, be the said ore in the bins of this corporation, upon the dumps of the mines, or still in the mines ready for extraction; the rules governing the issuance of these ore certificates and their sale and delivery to stockholders as stock or scrip div idends. may be made a part of the by laws of this corporation.
 Fifth: The capital stock of this cor poration is five million dollars, divided into two hundred thousand shares of twenty-five dollars each par value This capital stock may be increased from time to time by the majority vote of the board of directors, not to exceed however, twenty million dollars. The par value of the shares may be in creased or decreased as the board of directors may elect. In the event of any increase in capitalization. the stockholders of record at the time of such increase will have the first right to subscribe for the shares of such in- crease, at par, unless issued for the purpose of acquiring mines or other properties. All or any part of the cap ital stock of this corporation may be issued either for property, for services. for contracts, for secret processes of ore treatment, for contracts calling for services to be rendered this corpora tiOn. for mine leases, for the bonds and stock of other mining, milling, power. or smelting companies. or for leases on mines, or contracts for ore, options on land, for mine locations. for mill sites and for cash. Whenever all or part of the capital stock of this corporation is issued for any of the purposes herein said stock shall be stamped. full paid and non-assessable," and shall forever be so considered. Up to. and not exceeding one half of the total capital stock of this corporation may be issued as Preferred stock, to bear such preferences as the directors may declare and authorize. and said pre- ferred stock may be issued in series; the first series, or the number of shares issued first shall hold precedence over the second series in the matter of pref erence of payment of the said prefer ence per annum, provided the directors so elect.
 These preferred shares may be issued in payment for mines, mills. smelters, power plants, mill sites, ore contracts, leases, office furniture, machinery, equipments, building con- tracts, contracts for future services for purchase of property, and for cash. The directors may pay fisca: agents such commissions as may be to obtain funds for said preferred or common stock. the time of preference to be regulated by the board of directors at the time of issuance.
 The board of directors may issue or mortgage bonds payable in ten, twenty or thirty years; these may cover all or part of the property of the corporation. If pre- ferred stock is issued, the contract price for constructing any mill or smelter may be paid in preferred shares. The mortgages may be repre- scented by bonds. An additional mort gage may be issued for the purpose of buying mines, water, light or power plants, mills, smelters, sites, or mach inery of any kind. The board of direc- tors will have full power of issuance of any mortgage and the by laws may state the form of issuance and sale.
 Sixth: The directors may prepare and approve a set of by laws for the carrying on of the business of this and said by laws may i'm power them to take all actions not con- trary to these articles of incorpora- tion. The directors. may, by a major ity vote, sell or dispose of any nov