Daily Arizona silver belt., 1909-01-12
CERTIFICATE or INCORPORATION
 OF CACTUS DEVELOPMENT COMPANY

For the purpose of forming and be- ing a corporation under and by virtue
 of chapter 5S of the Revised Laws of
 Minnesota for the year 1905 and all
 acts amendatory thereof and insofar
 as the same applies to mining companies
 the undersigned do hereby declare that they do hereby associate together and
 agree upon the following certificate of
 incorporation:
 ]. The name of this corporation shall be Cactus Development Company, The principal place of business shall
 be Duluth, Minnesota, and such corpor- ation may transact business in any
 other part of the world. The general
 nature of the business shall be the min ing, smeiting, reducing, refining and working of iron and minerals of every
 nature and description and acquiring
 the carrying on of such business. II. The period of it's duration shall
 be thirty years.
 III. The names and places of resi-
 denee of the incorporators are William
 A. Eaton, H. B. Fryberger, and H. L..
 Palmer all residing in Duluth, Minneso- ta
 ". The government of this corpor- ation and the management of its af- fairs shall be vested in board of seven direc tors, each of whom shall be stock holders, and the following officers to
 be chosen by the board of directors of said corporation, to-wit: President, vice president, second vice. president, secretary and treasurer, and assistant
 secretary and treasurer. The directors
 shall be elected by the stockholders by
 ballot, each stockholder being entitled to cast as many ballots as he has shares of stock annually on the first Wodnes- day after the second Tuesday of Janu ary in each and every year during the life of this corporation beginning with the year 1909, and said officers and di- rectors shall each hold office for one
 year from the first Wednesday after the
 second Tuesday in January and until
 their successors are elected and qual.
 flied. Provided, however, that until
 the annual election to be held as herein
 before provided the management of this corporation shall be vested in board of three directors and until the first an nual election to be held ip January, 1909, as hereinabove provided, the fol lowing named persons shall act as the first board of directors; William A.
 Eaton, H. B. Fryberger, and II. l.. Pal
 mer, all residing at Duluth, Minnesota,
 and until such annual election William A. Eaton shall be president of said cor poration, H. B. Fryberger, vice-pre
 dent, and H. l.. Palmer, secretary and treasurer. Two or more of the offices
 above specified herein other than the
 board of directors may be held by one
 and the same person, except the offices of president, viee-president, second
 vice-president, and except the offices of secretary and treasurer and assistant secretary and treasurer.
 " The number of shares of the cap. ital stock of said corporation shall be five hundred thousand, and the amount CnefeOI snaH pc one uoliar eacn ana
 may be paid for in either property,
 money or services, as the board of di-
 rectors shall elect and said stock shall
 be subscribed for at such times and in
 such amounts as may be prescribed by
 the board of directors. This corpora
 tion may commence doing business when fifty thousand dollars par value of its
 stock shall be subscribed for
 VI. The highest amount of indebted
 ness or liability to which this corpora tion shall at any time be subject shall
 be one million dollars.
 In witness whereof, we have hereunto
 set our hands and seals this 18th day l of November, 1908.