Daily Arizona silver belt., 1909-10-14
LEGAL ADVERTISEMENTS

liquidation of the corporation, the hold, ! CTS of the preferred stock shall be en- titled to be paid in full before any thing shall be paid to the holders of common stock.
 (f) The sole right to vote at stock holders meetings shall be vested in the common stock, and the holders of pre- ferred stock, as such stockholders, shall have no right to vote at any stockhold- CTS meeting.
 ARTICLE ".
 The time of the commencement of the corporation shall be when copy of these Articles, certified by the Coun- ty Recorder of Gila county, Arizona, as required by law, shall be filed for rec ord in the office of the Territorial Auditor of Arizona, and the time of its termination shall be twenty-five years thereafter.
 ARTICLE V.
 Gal The affairs of the corporation shall be conducted by Board of three Directors. Said Directors shall be elect. ed by the holders of the common stock at their first annual meeting, to be held at the general office of the corporation, at Globe, Arizona, or at any other place in said territory designated by the Board of Directors as the place for holding such meeting, on the first Mon day of March, 1910 and on the first Monday of March of each year thereaf' teer They shall hold office for one year and until their successors are elected and qualified. Until the first annual meeting of the stockholders, the Board of Directors shall be Wm.1 Witt and James Moore, of Globe, Arizona and l.. L. Hayden of Bisbee, Arizona, who shall hold office until the first annual meet ing of the stockholders and until their successors are elected and qualified. (b) As soon as convenient after said certified copy of these Articles has been filed for record with the Territor- ial Auditor of Arizona, the Board of Directors shall meet at Room 24 of the Trust Building in Globe, Arizona, and of the holding of such meeting no notice need be given to the Directors. At said meeting said Directors shall or ganize the corporation, adopt bylaws, elect officers and provide for the issu- ance of and subscription to capital stock or any part thereof, and shall transact any other business that may come before the meeting.
 (e) The bylaws adopted at said first meeting of the Directors may be amend ed or repealed by said Directors in accordance with the provisions of said bylaws; and the holders of the com mon stock may amend or repeal the by laws or adopt new or additional by laws at any annual meeting or at any special meeting of the holders of the common stock called for that purpose.
 (d) The authorization or ratification of the holders of majority of the outstanding common stock of the cor roration shall be sufficient for the con veyance or transfer of the entire as- sets of the corporation.
 Gel Every Director shall be holder of or subscriber to common stock of tine corporation, and if Director shall cease to be holder of or subscriber to common stock his office shall thereupon become vacant.
 (f) The officers of the corporation shall be President, Vice-president, Secretary. and a Treasurer The off ces of Secretary and Treasurer may, Tn the discretion of the Board of Direct ors, be held by one person. The ofh. cers of the corporation shall be elected by the Board of Directors, and the President and Viee-president shall be elected from their own number.
 (g) Vacancies in the Board of Di- rectors or in the officers of the corpo- ration shall be filled for the unexpirei portion of the term by election by the Board of Directors.
 ARTICLE VI. The highest amount of indebtedness or liability to which the corporation may subject itself at any time shall be the sum of $1O0,000.00.
 ARTICLE VII. The holders of the capital stock, whether common or preferred, and their private property shall be exempt from corporate debts and from all liability therefor.
 IN WITNESS WHEREOF, We have hereunto set our hands and seals this 18th day of July, 1909.
 (Signed) VIM. WITT, loeaiJ
 l.. l.. HAYDEN (SeaD