Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1913-03-08

claims, or other claims in the near vi
ciRity, and generally to do and per-
form such acts and things. and trans.
act such business in connection with
the operation OF the lease on said
property not inconsistent with the
laws of the State of Arizona.
ARTICLE III.
That the amount of the authorized
capital stock Of the corporation shall
be the sum of One Hundred Thousand
Dollars (s100,O00O0). divided into
One Hundred Thousand 600. OO0)
shares of the par value OF One Dol.
lars (S100) each, which shall be paid
in, at such times as the Board of Di-
rectors may designate. in cash. real
estate, personal property, services, as
si@nment to the corporation of the
lease or leases on the said Higgins
Group of mining claims, or for any
other valuable right or thing, for the
uses and purposes of the corporation.
and all shares of the capital stock
when issued in exchange therefor,
shall thereupOn become and be fun.
paid the same as though paid for in
cash at par, and shall be noon-assessa-
BE forever, and the Judgment OF the
Directors as to the value OF any prop
orty, right or thing acquired in ex-
change for Capital Stock shall
conclusive.
ARTICLE ".
That the time Of the commence
ment OF the corporation shall be the
FnHha Att
recorded in accordance with law. and
the termination thereof shall be
twenty-five years thereafter, with
privilege of renewal as now proyid
ed by law.
ARTICLE V.
That the affairs q this corporation
shall be conducted by a Board of not
less than three nor more than seven
Directors, by whom a President. Vice
President. Secretary and Treasurer
shall be elected The Directors shall
be elected at the annual meeting OF
the Stockholders on the 25th day of
February of each year, and in case
the said date shall fall on a Sunday
or Holiday. then the SAD meeting
shall be held on the next day follow
ing said Sunday or Holiday. Until
their successors are elected and quail
fled, the following named persons
shall be the Directors for the first
years: James Letson, Harry Jennings
and John NJ McGregor; provided,
however that at the first meeting of
the Board of Directors. or any ad-
iournment thereof, the number of said
Directors may be increased to FIVE,
and the vacancies i'm such Board filed
by the three Directors herein named.
and also that at any annual meeting
of the Stockholders of this Company.
the number of Directors nay be in
creased or diminished within the linn
its hereinbefore named. The officers
OF the Company Tor the first year
shall be. James Letson. President and
General Manager: Harry Jennings.
Vice President and Treas urer; AMI
John NJ McGTegOr. Secretary.
ARTICLE VI
That the Directors shall adopt BY
Laws for the government Of the cor
poratiou and may amend the same.
They shall have power to I'll yacan-
cies occurring in the Board from any
cause, and shall have power to do
every act and thing and 20 transact
any business within the POWER of the
corporation. and TO delegate such pow
er and authority as It may deem ex-
pedient to any officer or agent OF the
Company. except the conveyanos OF
transfer oil the entire assets of the
company, which shall require the
previous authorization or Subsequent
ratification OF the holders of the ma
jority Of the outstanding stock Of the
Company.
ARTICLE VII
That the highest amount of inGebt-
edness or liability 70 which the cor
poration is at any time to subject IT,
self is the sum of Sixty Five Thou
sand Dollars (s65. 000.00).
ARTICLE VIII.
That the private property OF the
Stockholders. Directors. and Officers
OF the corporation shall be forever ex-
empt from corporate debts and from
all liability therefor.
IN WITNESS WHEREOF, we have
hereunto set our hands this Ist day
of March. 1913.
JAMES LETSON.
HARRY JENNINGS.
JOHN N. McGREGOR.
STATE or ARIZONA.