The copper era and Morenci leader., 1912-11-01

ana premises TOT the OSVelOpInent, storing and conveying thereof, and for a right of way to construct and main tain its dams, reservoirs, canals, waterways, fumes, pipe lines and other necessary conStructures and ap- purtenances in carrying and convey ing water and also the sale of water and the use thereof for the purposes aforesaid, and for the protection from fire in, and in the vicinity of the town of Clifton, Graham County, Arizona, and generally in the copper mining district of said county; also to engage in the acquisition and ownership of water and water rights and the sale or lease of same to parties or cor porations for power to generate or oo- tain electric light, power and heat, and to lease or sell the same for the purpose of maintaining and operating electric light plants in the town of Clifton and vicinity thereof; also to engage in the acquisition and owner ship of water and water rights, and for the use and sale of the same for the manufacture of ice, and for the use and sale in the operation and maintenance of ice plants.
 III.
 The amount of capital stock of this corporation shall be Two Hundred Thousand .($20O, ,0OO.OO) Dollars, di- yided into two hundred thousand (200,000) shares of the par value of One ($1.00) Dollar each, to be paid in at such times and in such manner as the Board of Directors shall, from time to time, by resolution direct, and for such prices as shall, to the said Board of Directors, seem best, and said stock may be issued and sold for money or exchanged for services 70 the corporation, or exchanged for property acquired or purchased by the corporation, and when so issued, shall be fully paid up, and the stock in this corporation shall be forever nOn-aSSeSSable.
 The corporate existence of this cor poration shall commence on the day of the filing of these Articles of Incor- poration in the office of the County Recorder of Graham County, Territory of Arizona, and certified copy of the same with the Secretary of the Terri tory of Arizona, and the termination thereof shall be twenty-five (25) years 1 thereafter.
 The business of this corporation shall be conducted by a Board of Di- rectors consisting of five (5) stock holders, who shall be elected annually by the stockholders on the first Mon- day in March of each year, said cleo tion to take place at the principal place of business mentioned in these Articles; notice of the time and place of holding said annual meeting to be given as the Bylaws of this corpor ation shall provide; said Directors shall hold their office for a term of one CD year from the date of their election, and until their successors shall have been elected and qualified. The following named persons, who are subscribers to the capital stock of this corporation whose names and places of residence is as follows:
 | W.--J. Davis, Morenci,' Arizona
 Gordon Mclean. Morenci. Arizona
 M E. Thorpe, Morenci, Arizona.
 H. B. Rice, Morenci, Arizona.
 4. G. S.nith,,Clifton, Arizona.
 shaIi constitute the Board of Direct ors of this corporation until the first Monday in March, A. D. 1903, and un- til their successors shall have been duly elected and qualified. Vacan- cies in the Board of Directors shall be filled by the remaining members of the Board for the unexpired term. A majority of such members shall con stitute quorum, and any meeting of such Board of Directors at which a quorum is present shall be deemed a legal meeting, and shall have the same authority as full Board.
 VI.
 The officers of this corporation shall be a President, Vice-President, Secretary and Treasurer. The Presi- dent, Vice-President, Secretary and Treasurer shall be elected annually by the Board of Directors from among their members, and such other off, cers from among the stockholders of this corporation as the Board of Di- rectors may deem necessary to carry ! l,s- Is>~, l The Board of Directors shall have power to remove any officer at any ! time, and to fill all vacancies caused i by removal or otherwise. The folio " . ing named persons shall constitute the officers of this corporation until the first annual meeting of the Board of Directors on the first Monday Hi March, 1903, unless sooner vacated under some of the provisions of these Articles.
 Gordon Mclean, President.
 w. J. Davis, Vice-President.
 A. G. Smith, Treasurer.
 A. G. Smith, Secretary.
 VII.
 The highest amount of indebtedness direct or contingent, to which said comDany shall at any time subject itself shall not exceed the amount of EftJ tLo~sand (s5O,OO0.00) Dollars.
 Tie private property of the stock holders in this corporation shall be empt from all debts of this corpor- ation.
 TT a Hoard Q, Directors of this cor pora,irn s a;l nave power to establish B. nake any and all need ! r:,' a..l regulations for the r n Of the affairs of the cor 'e0-"' = "t inconsistent with the ,a- rTnited States, or the laws z I .s Territory.