The copper era and Morenci leader., 1912-09-20
I I |

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 to 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 a certified copy of the same with the Secretary of the Terri tory of Arizona, and the termination thereof shall be twenty-five (25) years thereafter.
 l 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 l Gordon Mclean, Morenci, Arizona
 M B. Thorpe, Morenci, Arizona.
 H. B. Rice, Morenci, Arizona. | A. G. Smith, Clifton, Arizona. shall 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- l cies in the Board of Directors shall 1 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. a VI.
 l 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 1 by the Board of Directors from among their members; and such other off cers from among the stockholders of l this corporation as the Board of D1- rectors may deem necessary to carry on the business of this corporation. The Board of Directors shall have power to remove any officer at any time, and to fill all vacancies caused by removal or otherwise. The follow l ing named persons shall constitute the officers of this corporation until the first annual meeting of the Board of Directors on the first Monday In 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 company shall at any time subject itself shall not exceed the amount of fifty thousand (s5O,OOO.OO| Dollars.
 VIII.
 | The private property Of the stock holders in this corporation shall be exempt from all debts of this corpor- ation.
 The Board of Directors of this cor poration shall have power to establish Bylaws, and to make any and all need full rules and regulations for the management of the affairs of the cor poration not inconsistent with the laws of the United States, or the laws of this Territory.
 These Articles may be amended at any regular meeting of the stock holders or at any special meeting thereof called for that purpose by a majority vote of the stock, and when stockholders owning majority of the stock voting in favor of such amend ment, and when said Articles shall have been amended at any such meet ing such amendement shall be ack- nowledged and signed by the Presi- dent and Secretary of this corpora ton, and shall have the same force and effect of those signed and ac- knowledged by all the stockholders of this corporation.
 IN WITNESS WHEREOF, we have hereunto set our hands and seals this 12th day of April, A. D. 1902.
 A. G. SMITH (SeaD
 w. J. DAVIS (Sean
 GORDON MCLEAN fSeaD
 H. 5. RICE tSeaD
 NJ E. THORPE (SeaD Territory of Arizone,
 County of Graham
 l SS.
 Before me Mary w. Woodman, a Notary Public in and for the County