Arizona republican., 1909-03-02

cate and deal in mines. mining claims. mineral lands, coal lands, oil lands. timber lands, real estate, wa ter and water rights, and to work, explore, operate and develop the same, and to extract any and all minerals, oils and gas therefrom, and deal in the products and by-products; to purchase, lease, or otherwise ac- quire, erect, own, operate or sell smelling and ore reduction works, oil refineries, saw-mills and power plants; to do a general real-estate, manufacturing and mercantile busi- ness; to own, handle and control letters patent and inventions and shares of its own capital stock and that of other corporations, and to vote any stock owned by it the same as a natural person might do: to is- sue bonds, notes, debentures and other evidences of indebtedness, and secure the payment of the same by mortgage, deed of trust, or other wise; to act as agent, trustee, brok- CT or in any other fiduciary capac- ity; and to borrow and loan money; and in general to do such acts and things and transact such business, not inconsistent with law, in any part of the world, as the Board of Directors may deem to the advantage of the corporation.
 ARTICLE ".
 The authorized amount of capital stock shall be one hundred thousand shares, with a par value of One Dol lar each: twenty shares of said stock to be sold to place the sum of Ten Thousand Dollars in the treasury, and on which stock a divi- dend of Ten Thousand Dollars shall be paid before the remainder of said capital stock shall participate in the earnings of the corporation. At such time as the Board of Directors by resolution may direct, said capital stock shall be paid into this cor poration, either in cash or by the sale and transfer to it of real or personal property. contracts, services. or any other valuable right or thing, for the uses and purposes of said corporation, in payment for which shares of the capital stock of said corporation may be issued; and the capital stock so issued shall there upon and thereby become and be fully paid up and forever non-asses- sable; and in the absence of actual fraud in the transaction, the judg- ment of the Directors as to the value of the property purchased shall be conclusive.
 ARTICLE V.
 The time of the commencement of this corporation shall be the date of the filing of a certified copy of rfi nf in, the office of the Auditor of the Ter ritory of Arizona; and the terminal tion of said corporation shall be twenty-five years thereafter, with the privilege of renewal as provided by law.
 ARTICLE VI.
 The affairs of the corporation shall be conducted by a Board of Directors consisting of not less than three and not more than nine persons, and the following named persons shall con- stitute the Board of Directors, to act until the annual meeting of the stockholders to be held in April, 1909, to-wit: Raymond J. Seeburger. Man ton NJ. Ferguson, Fred H. Reed, J. L. Paul, George w. Hartley, Edward A. Young and D. Macdonald.
 The Directors shall be elected at the annual meeting of the stockhold- CTS and hold office for one year. and they are empowered to make such bylaws as they may deem nec- essary for the management of the corporation, to fill vacancies occur ring on the Board, and to elect the officers of the corporation, and to appoint an executive committee with such powers as they may confer And a majority of the members of