Arizona republican. [volume] (Phoenix, Ariz.) 1890-1930, 1907-02-15

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 or
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 smelling companies, or for leases on
mines, or contracts for ore, options on
land, Tor 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
mentioned. said stock shall be stamped,
full paid and worcestershire" 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,
mechanical equipments, building con-
tracts, contracts for future services
contracts for purchase of property. and
for cash. The directors may pay fisca.
agents such commissions as may be
/ necessary to obtain funds for said
preferred or common stock. the time of
4 preference to be regulated by the board
of directors at the time of issuance.
The board of directors may issue
mortgages or mortgage bonds payable
! in ten. twenty or thirty years; these
mortgages 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-
sented 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
corporation 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
able property of this corporation. such
as machinery. tools, horses. wagons,
houses, merchandise, or any stocks,
bonds. leases or options, etc. held by
this corporation, but no sale of mines.
lands or timber or water rights owned
by this corporation shall be made
without the consent of the majority of
the stockholders Of record, whether in
writing or in person. or by proxy at a
stockholders meeting. each share vot-
ing one, preferred voting equally with
the common.
When stocks. bonds, options, or any
movable property are sold. the direc-
tors may divide the proceeds among
the stockholders of record, excepting
such stockholders as may waive their
rights Of participation in favor of those
who do not waive their rights of par
ticipation.
To meet the obligations of this COM
pany. the directors are empowered to
sell TO ore Spectators. any ore upon the
dumps or exposed in any of the works
on any of the properties of this COM
pany, and the said ore NAV remain
upon the dumps or remain standing In
the mines until the buyer may call for
the delivery of the same or be allowed
to extract the ore so purchased and
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 10
the actual value Of said ore but sIl
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 NAV be declared
by this company from the profits of
mining smelling or the sale of ore ex-
tracted from the mines. blocked out. to
ore spectators 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
lied 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 i'm event the company should
own and operate mines in any foreign
country an office may be established
In that foreign country.
Stockholders meetings NAV 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