The Coconino sun., 1911-08-04

corporations, firms and indlvid- uals, if deemed advisable by a majority of the board ot directors; but nothing herein contained shall be deemed to authorize the guar teeing of any bonds of any cor poration, except in accordance with the provisions of the laws of the state of South Dakota relating thereto.
 In order to promote the inter- ests of the company and to en- courage the utilization oi the com pany's lands, mining claims, ore in place, ore in dump, tailings and other property, to sell, assign, transfer, lease, and in any lawful manner dispose of such portions of said property as the board of directors shall deem advisable. and to use and apply the funds received in payment therefor 10 the surplus account for the bene- fit of the company, or the pay ment of dividends or otherwise: provided that the capital stock shall not be decreased except in accordance with the laws of South Dakota.
 To draw, make, accept, en- dorse, discount, execute, and issue promissory notes, bills oi ex- change, warrants and other nego- tiable or transferable instruments.
 To purchase, hold and reissue the shares of its capital stock.
 To have one or more offices, to. carry on any of its operations, to purchase or otherwise acquire, to hold, own, to mortgage, sell, con vey, or otherwise dispose of real and personal property of every class and description in any of the states, districts, territories or colonies of the United States, and in any and all Foreign Countries, subject to the laws of such state, district, territory, colony or country.
 The foregoing clauses shall be construed both as objects and powers; and it is hereby expressly provided that the foregoing enum- eration of specific powers shall not be held to limit or restrict in any manner the powers of this corporation.
 THIRD
 The place where the princi- pal business 'oi this corporation shall be transacted is Pierre, in the county of Hughes, state of South Dakota, but business off ces may be located in Chicago, in the state of Illinois, and else- where as determined by the Board of Directors, where meetings oi the Board of Directors and stock holders may be held for the trans action of business.
 The name of the resident agent of this corporation residing at its principal place of business in South Dakota is L. L. Stephens, and his address IS Pierre, South Dakota.
 FOURTH.
 The term for which this cor poration shall exist shall be twenty five (25) years.
 FIFTH.
 The number of directors of this corporation shall be six (6) and the names and residences of such who are to serve until the election of their successors are as follows: Names. Residences. Herbert A. parkyn, Chicago, III. l. H. Mcfarland, w, H. Bradley, Samuel s. Sherman, '" C. H. Spencer, Flagstaff, Arizona. l.. L. Stephens, Pierre, South
 Dakota.
 SIXTH.
 The amount of the capital stock of this corporation shall be and is five million dollars (S5, ,ooo), divided into five million (5, ,ooo, ,ooo) shares of the par value of one dollar (SI.) each.
 Of said stock, four million eight hundred thousand (4,8oo, ,ooo) shares shall be common stock and two hundred thousand (2oo, ,ooo) shares shall be preferred stock. The holders of the preferred stock shall be entitled to receive out of the net earnings non-cumulative dividend at the rate of, but never