Bisbee daily review., 1913-06-06

consist of three members: all of which officers. including directors, shall be elected by the stockholders. who (tho sioezholdersl shall designate which, director shall be the Managing Direc- tor of the comranw. The list annual meeting of stockholders shall be on the first Tuesday gir February A D.
 1914, but special meetings may be called by the president at any time The following named shall act as off, cers untl the first annual meeting of stockholders at which their success sors are to be elected .to-wits
 Albert Heffern. President and Man, aging Director.
 Albert Dahlbes'g, YicePTesident and Director
 Faruuhar McKeH Director
 <. T. Townsend, Secretary and.
 William ConnolY, as Treasurer
 No person shall be eligible 10 any office iii the corporation unless such person at the time be a stockholderI tberecf. and his teasing to be a stock. holder, his office becomes vacant with ont resolution or other formality, The hoard of directors snail have power to
 
 either for cash or in trade or ex,
 change for mining property, water.
 rights. maohinery.t or other real or personal property ,, but in such case
 they shall not pay more than the l actual value of such property and provided further asuch stock shall be recei.ed and accepted therefor at par The stoek-holders shall make and adopt Bylaws. rules and regulations for the management of corporate af-. 1 fairs and may from time to time amend the same. Fifty one per cent of the stock issued can recall any Direc- l tor or other officer, and. a meeting of stockholders can be held at any tima upon upon the initiation and cali of ! one director, provided he has the 7 written sanction of @ majority of the outstanding stock, to call the same which sanction must he shown at such meeting. The three directors named | iT these Articles shall hold office until { the first annual meeting of the stock { holders and until their suceSssos 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
 years and but one director shall be elected annually. Thereafter.
 After the acquisition of the mining | property. belonging to Albert lief fern, and which this company shall en,
 deavor to purchase. the board of. di. Irectors shall not subject the company l 10 any indebtedness aggregating a sum over ten thousand dollars. except { hy vote of a majority of the out standing stock at regular or special n7eeting of the stockholders. Treasury l stock shall at no time be voted; only l issued stock is entitled to be voted 1 and each share of outstanding stock | is entitled to one vote. Of the directors I elected one of them shall be elected | b. the stoCkholders as General Man ager of the properties of the company | but in no case shaA sdeh Manager be elected who is not 2 practical and eX- i perience r miner and experienced in 1 the management of mining property 1 No real estate belonging to the com ! nary or upon which il may have an option. or in which it may have an ! interest shall be sold, hypothecated or I fdfsposed of by the directors or other | officers, except it be by authority of 4 vote of a ma iority of the outstanding stock or stock issued at q regular i meeting Of the stocFholders or a spe- l c;aI meeting thereof. 4 majority of | the board of dinet1ors shall consti- | tutls g quorum and the board of di- i rectors shall have power to fill any i. vacancy which nay at any time exist ! in it's body.
 ! The highest amount of debt or lia- ! biHty, direct or contingent, for which l the corporation is, at any time to sub f ject itself shall, in no case exceed
 the sum of three million dollars, and i the stock Of this corporation shall for l eyer be non-assessable-
 l Private property is exempt from i the payment of corporate debts No more treasury stock shall be sold or idispesed of than is necessary to place ithe company upon a dividend payihs ! Fasis. at which time. the remaining { stock in the Treasury. may be dis | posed Of as a dividend among the then ] shareholders; or used for the better I rrent or the extension of the com ' pany's holdings, IS is best in thes opin- ! ion of the majority of the stockholders lat a regular or special meeting Of the stockholders.
 4 In Witness Whereof. the said in T eorporators have hereUnto set their hands and seals this the isth day os sfay 4. D. 1913
 ! ALBERT HEFFERN fSeai) f ALBERT DAflLBERG. fSeal9
 State of Arizona )
 I Cocbise County.
 f Before me, Frank W. Goodbody' a
 Notary Public. in and for sad county
 and state. on this day personally aiN peared Albert IIefien and Albert I)ahlberg. to me personally known 10 be the persons who subscribed the foregoing instrument, and acknoWF i edged to me that they executed the T same for the purposes and eonsioera-
 ton therein expressed
 Giren under my hand and seal ot ' cfice this the 18th day of May A. D. i 1915.
 My commission expires Feb Y zSfu' FRANK ". GooDBODY. Notary Public.
 Filed and Recorded at request ol
 Allen R. English May slst 1915 al 9 a. no. Book 6 Interpretations. Pages sS, 50, 60, s1.
 OWEN r. MURPHY.