Bisbee daily review., 1909-08-28

sary for or incidental to the advance ment of the purposes of the corpora ton, and, when 90 issued. the same shall be and become fully paid and non-assessable, the same and with like effect as if paid for in cash at par: and the Board of Directors shall be the sole judge of the value of any property. real or personal. or right or thing acquired and exchanged for capital stock of the corporation. No shares of the capital stock of the corporation shall be issued until full ly paid for in the manner, upcn the conditions and at the price specified by the Board of Directors, and there after the same shall he in all respects fully paid and non-assessable. ARTICLE w.
 The commencement of the corpora ton shall be the day these Articles of Incorporation are filed in accord ance with law. and the corporation shall endure and continue for the full term and period of twenty-five l.t25) years thereafter. with the privi- lege of perpetual succession as pro- | vided by statute, ana the corporation | may be renewed from time to time ! for further periods each of twenty five (25) years.
 ARTicLE V.
 The government of the corporation shall be vested in. and its affairs shall be conducted by, board of nine (s) directors, who, other than the first Board hereinafter provided for, shall be chosen by the stock | hAf fxon hav at i, annual meetings, and who shall be l classified fin respect to the time for which they shall severally hold office by dividing them into three classes. l each class consisting of one-third of the whole number of the Board of l Directors. and all directors of the corporation shall hold office until ! their successors are elected and quail flied.
 | The Board of Directors is invested with complete and unrestricted au- thority in the management of all the affairs of the corporation. and is au- | tborized to exercise for such pur- pose. as the general agent of the cor poration, its entire corporate author ity. | As to the first Board hereinafter | piotiutu ftnc uicttoS ot tuS | first class shall be elected for a term
 of one year; the directors of the second class shall be elected for a term of two years. and the directors of the third class shall be elected for a term of three years. At each annual election. the successors to
 the directors of the class whose
 terms shall expire fin that year shall
 be elected to hold office for the term of three years, so that the term of
 affice of one class of directors shall
 expire in each year.
 The first Board of Directors shall 1 with classification as and by these articles provided, consist of the fol
 lowing persons. to-wit:
 FIRST CLASS.
 The directors of the first class shall
 be Louis W. Powell. of Warren, Co hise County. Arizona. and Edward J
 Nancy and Stephen H. Jones, both of
 Duluth. Minnesota, who shall hold office until the first annual meeting
 of the stockholders on August 16 1910, as provided for by this Article SECOND GLASS.
 The directors of the second class
 shall be Louis D. Ricketts and James H. Kirk, both of Cananea, Sonora
 Mexico. and G. Ashley Tomlinson, of Duluth. Minnesota. who shall hold office until the annual meeting of the stockholders in August, 1911. as pro
 vided for by this Article.
 THIRD CLASS.
 The directors of the third class shall be Thomas F. Cole. Joseph B Cotton and Richard M. Atwater, Jr- all of Duluth, Minnesota. who shal
 hold office until the annual meetins
 of the stockholders in August, 1912
 as provided for by this Article.
 The first annual meeting of the
 stockholders of the corporation shal
 be held at its general office in Duluth
 Minnesota. on Tuesday, the 18th day O August, 1910, at the hour of twelve o'clock noon, or at such other office
 or place as the Board of Director; may by resolution designate. | Thereafter, the annual meeting O |. the stockholders of the corporation shall be held on the third Tuesda,
 after the first Monday in August il
 each year. at twelve o'clock noon, a its general office in Duluth, Mime ! sota, or at such other office or plac' as the Board of Directors may b! , resolution designate.
 The Board of Directors shall hol' it's first meeting for the year immedi , ately after the election of director , at said annual meeting or at any ad l journmeut thereof At said meeting the Board of Directors shall cleo from its own number Presiden : and First vice-President, and shal : also elect Secretary, an Assistan , Secretary. Treasurer. an Assistan Treasurer. and an Auditor. who nee not be members of the Board of D [ rectors. all of whom shall constitut ' the officers of the corporation an