Western liberal. (Lordsburg, N.M.) 1887-1919, 1911-07-28

ing under the Jaws Of the Territory OF N.w
MEXICO. party Of the second part.
WHERnAs. The party Of mo arst part owns
and operates a line OF milrnnd exfendiae
from the town Of Clifton. IN the county OF
Groonlees TERRITORY o. Arizonn. 20 the town OF
Lordsburg. In the County OF Grant. Territory
OF New Mexico, and che party Of the second
part owns and operates a railroad extending
from the said town OF L~ordsburr 10 the town
OF aachita, IN the County OF Grant. Territory
Of New Mexico. the baid two railroads forming
a continuous line % railroad from the said
town OF Clifton to the said town Of Hachita;
and
WEEREAs, The amount OF capital stock Of
the party Of the nrst part IL two million. three
hundred thousand dollars Q2.8O0OU. par
value. which amount has hoon actually ex.
pended In the construction and equipment Of
lie said Rilroad. and the amount OF the cant
tai stock OF the party OF the second part is
I'VE hundred thousand dollars o5O0.oOp. par
value. OF which four hundred sixty-nine
thousand dollars ftlGaOo0 has been issued and
is now outstanding. and which amount has
been actually expended in the construction
and equipment Of lie said railroad; and
WHEREAS, The interests OF both the said
companies would be promoted by their con
solid alton into one corporation and the oper.
alton Of thoir lines Of railroad a. a single road.
and the cuhvenience and Interest OF the pub
lie vonld also be promoted thereby: and
wHEHEAs. In the opinion Of competent en-
kineers. the amount OF the capitsl stock re.
quired for the purposes OF such consolidated
oorporation Is at least three million dollars
@oc0o0;
Now. THEREFORE. the parties hereto do
hereby agree 10 consolidate all their capital
stocks. properties. roads. equir ment ad-
juncis, franchises, claims, demands. con-
tracts. agreements. obligations. debts. IIabili-
ties and assets OF every kind aud description.
upon the following terms and conditions. and
in the following manner:
I. A consolidp tod corporation shall be
formed BY the parties hereto. In accordance
with law, which shall succeed TO all their sew
eral capital stocks, properties, roads. equip
ments, adjuncts, franchises, claims. demands.
agreements. assets, chooses and
action Of every kind and descrip-
ton, both at law and In equity, and shall be
entitled to possess, enjoy and enforce the
as fully and completely as the parties
respectively, might have lone had no
consolidation taken place; and It shall also be
subrogated 70 the parties hereto, and each OF
them, In respect TO all their contracts and
agreements with other parties, and all their
debts. obligations and liabilities OF every kind
and nature. to any persons, corporations, or
bodies polite. whomsOever or whatsoeyer.
III. The name OF UGH consolidated corpora
ton shall be The Arizona and New Mexico
IA Al ~ a. nnrnnanw. a. 49,. q. /
be nfty 80 years. and the place where its
principal business is TO be trangacted shall be
the Town Of Clifton. in the County Of Green
lee. Territory OF Arizona. It shall also main
tain an office where its principal business in
the Territory Of New Mexico Is TO be trans
acted. in the Town OF Lordsburg, County of
Grant. Territory OF New Mexico.
Ill The capital stock OF such consolidated
corporation shzll be Three Million Dollars
03,0O0.00, par value, which IL not in excess OF
the amount actually required for the pur-
poses OF such corporation. as estimated by
competent engineers, divided into Thirty
Thousand $4,000 shares OF One hundred Dol
lars NlO0) each, OF which Two Million Seven
Hundred and Sixty-nine Thousand Dollars
2.5oa,0 OO represents cost OF the construction
aud equipment OF the roads OF the parties
hereto and is the amount of t~heiraggregate
outstanding capital stock, which has been
fully paid.
~. The numbered directors OF such con-
aoiidated corporation shall he nine, and the
namee and residence OF the persons appointed
10 act az such until their successors are
elected and qualified, are
JIG. Hopkins, residing at Aahburn, Va.
Don II. Eedzle. residing nj Iordshurg n n
Joseph A. Leahy,