Daily Arizona silver belt., 1909-01-13
CERTIFICATE OF INCORPORATION
 OF CACTUS DEVELOPMENT COMPANY


 ing 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:
 l. 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, smelting, reducing, refining and working of iron and minerals of every nature and description and acquiring such property as may be incidental to the carrying on of such business.
 II. The period of it's duration shall be thirty years.
 III. The names and places of resi- dence of the ineorporators are William A. Eaton, H. R. Fryberger, and H. l.. Palmer all residing in Duluth, Miuneso- la.
 ". The government of this eorpor- ation and the management of it's af. fairs shall be vested in a board of seven directors, each of whom shah be stock holders, and the following officers to be chosen by the board of directors of said corporation, to.wit: President, viee-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 Wednes- 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 quail flied. Provided, however, that until the annual election to be held as herein before provided the management of this corporation shah be vested in board of three directors and until the first an. nual election to be held in 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 H. 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-presi- 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, vice-president, second vice-president, and except the offices of secretary and treasurer and assistant secretary and treasurer.
 V. The number of shares of the cap ital stock of said corporation shall be five hundred thousand, and the amount thereof shall be one dollar each and may be paid for in either property, money or services, as the board of di- reetors 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 ton may commence doing business when fifty thousand dollars par value of it's 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 I2th day of November, 1908.