Daily Arizona silver belt., 1907-06-25

eral powers of Corporation as defined by law or that might properly be done by a private individual
 ARTICLE III.
 The amount of the capital stock oi this Corporation shall be One Millior Dollars divided into Two Hundred Thousand shares of the par value oi Five Dollars per share, which, when is sued, shall be fully paid and non as sessable.
 Said capital stock shall be issued upon such terms and conditions and al such times as the Board of Director, may determine and the same may bt issued in exchange for property, con tracts, services or other benefits of any kind or character aecruing to the Cor poration as the Board of Directors may in the exercise of their judgment, deem proper, and the judgment of the Board of Directors as to the value of any property, contract, service or benefit shall be binding and conclusive except in case of actual fraud.
 ARTICLE ".
 The affairs of this Corporation shall be conducted by Board of not less than three nor more than nine Direct ors, who shall be selected from among the Stockholders at the annual meeting thereof, which meeting shall be held at the Company offices in Globe, Giia County, Arizona, on the Second Tuesday in June of each year.
 Said Directors when elected and qual fled shall hold office until their success sors are chosen and qualify and the Board shall have power to fill vacancies in its own membership, to make and establish bylaws, rules and regulations for the government of the Company and the conduct of its business and shall have full management and control of the property.
 Should the Board at any time consist of five members it shall be lawful for the said Board to designate or appoint an Executive Committee consisting of three of its members, and such .Execu tive Committee shall, when the Board is not in session, and to the extent provided by the bylaws or by the res olution designating such committed have, and exercise all the powers of the Board of Directors.
 Until the first annual meeting of the stockholders, or until their successors or associates are elected and qualified the incorporators undersigned shall con. stitute and be the Board of Directors of this Corporation and shall exercise all of the powers above enumerated.
 The officers of the Corporation shall be President, Vice President, a Secretary and 8 Treasurer, and such other officers as the Board of Direct ors elect, designate or employ. The President and Vice President shall be members of the Board of Directors and any other office in the Corporation may by filled by any competent stockholdeI elected by the Board. The duties of all officers shall be prescribed and their powers limited by the Board of Direct ors either in the bylaws of the Com. pany or by resolution.
 ARTICLE V.
 The time of the commencement of the existence of this Corporation shall be the day upon which duly certified copy of these Articles are filed for rec ord with the Auditor of the Territory as provided by law, and such corporate existence shall terminate twenty-five years thereafter but the same may be renewed from time to time as provided by law.
 ARTICLE VI.
 The highest amount of indebtedness to which this Corporation shall at any time subject itself is Five Hundred Thousand Dollars, which indebtedness may be evidenced and secured as the Board of Directors may determine.
 ARTICLE VII.
 The private property of the Incor' porators, Stockholders and Officers of this Corporation shall be forever ex empt from any and all liability for its corporate debts.
 IN WITNESS WHEREOF the parties hereto have hereunto set their hands the 18th day of June 1907.
 POLLARD PEARSON,
 J. R. BARNETTE,