Bisbee daily review., 1913-06-12

time of the commencement of this cor.
 poration shalt be immediately after
 the filing of theese articles in the Of
 fee of the corporation commission of
 ty Recorder of said Cochise county ard the due publication and the certif-
 !cation thereof as by law required; i;
 and the termination of this corporation
 shall be twenty-five years thereafter The affairs of this corporation shall
 he conducted by a president: vice
 president; treasurer: secretary and a
 board of directors which board shall
 consist of three members: all of which
 officers. including directors, shall be elected by the stockholders. who (the stockholdersl shall designate which director shall be the Managing DiTec- for Of the companw. The 1st annual
 meeting of stockholders shall be on the first Tuesday ia February A. D.
 1914, but special meetings may be called by the president at any time.
 The following named shall act as off, cers until the first annual meeting of stockholders ats which their succes- Sors are 10 be elected ,to-wit:
 Albert Heffern, President and Man aging Director.
 Alhsrt Dahlbegg, VicesPresident ard Director
 Farquhar Mckenzie, Director.
 A. T. Townsend. Secretary and,
 William Counoly aS Treasurer
 No person shall he eligible to any office iu the corporation unless such I L |. INrf rftg.Hzg thereof, and his ceasing to hc a stock. holder, his office becomes vacant with out resolution or other formaiity. The hoard of directors snail have power to issue and order issued corporate stock either for cash Or in trade or ex, change for mining property, water rights, machinery, or other real or personal property. but in such case they shall pot pay more than the 1 actual value uf such property and
 provided further such stock shah be received and accepted therefor at par. The stockholders shall make and adept Bylaws, rules and regulations for the management of corporate af. fairs and may From time to time amend the same. Fifty one per cent of the stock issued eau recall any Direc- tor or other officer, and, a meeting of ! stockholders can be held at any time upon upon the initiation and call of one directcr. provided he has the i written sanction Of a majority of the outstanding stock, to call the same. which sanction must be shown at such meeting. The three directors named ' in these Articles shall hold office until
 the first annual meeting of the stock holders and until their successors are elected: and. at such first an
 nual meeting three directors shall be elected, by the stockholders, and of these three directors, one shall be elected for one year and another for | two years and the other for three | ears and but one director shall be elected snnisliy thereafter.
 1 After the acquisition of the mining | property belonging to Albert lief.
 fern, and which this company shall eu- deavor to purchase, the board of di-
 TsctoFs shall not subject the company ! 10 any indebtedness aggregating a sum over ten thousand dollars, except
 by vote of a majority of the out { standing stock at a regular or special meeting of the stockholders. Treasury | stock shall at no time be voted; only issued stock is entitled to be voted and each share of outstanding stock { Is entitled to one vote. Of the directors ! elected, one of them shall be elected | by the stockholders as General Man 1 ascr of the properties of the company but in no case shall such Manager be elected who is not a practical and eX- Terience1 miner and experienced in the management of mining property. No real estate belonging to the com parry or upon which ir may have an ! option. or in which it may have an interest shall be sold, hypothecated or tdisposed of by the directors or other : officers, ezcegt it be by authority of
 a vote of majority of the outstanding
 stock or stock issued at a regular
 meeting of the stockholders or a spe-
 cial meeting thereof. A majority of the board of directors shall constl
 iuts a quorum and the board of, di-
 IectOrs sball have power Co fill any /. vacancy which may at any ums exist