Western liberal. (Lordsburg, N.M.) 1887-1919, 1916-07-21
PROGRESS MINING COMPANY

p~orafion under the laws Of the State Of Ari-
IONA. for the lawful enterprise. business and
occupation hereinafter mentioned, have this
day associated ourselves together into a body
corporate. and do hereby make. sign, acknowl-
edge. and adopt the following articles Of in
corporation.
ARTICLE !
The names Of the interpretations Of this Cor
p%oration are L. A. ~HOHSTADT, whose resi-
dence and post office address is Douglas, Ari-
IONA +. L. STEWART. whose residence and
post office address Is Douglas, Arizona and
f.. o. BOsTwICK. whose residence and post
office address is Douglas, Arizona.
The name Of this corporation. and by which
it shall be authorized to transact business.
is and shall be PROGRESS MINING COM
PANY.
ARTICLE II
The principal place Of transacting the
business Of the corporation shall be in the
CITY Of Douglas. County Of Cochise, State Of
Arizona. but branch offices may be kept and
maintained at such other places either in the
United States Of America, or in the Republic
Of Mexico, as the directors may determine.
ARTICLE III
The time Of the commencement Of this Cor
p%oration shall be the date Of the issuance by
the Arizona Corporation Commission Of a Ger
tificate Of Incorporation TO this Corporation
and the termination thereof shall be twenty
five (25) years thereafter.
ARTICLE "
The general nature os the business pro-
posed to be transacted by the corporation is
as follows. to-wit: to purchase. locate, lease.
bond or otherwise acquire. own. exchange, sell,
mortgage, lease or otherwise dispose Of mines,
mining claims, placer grounds, mineral lands.
real estate, timber lands. water, water rights
and oil lands. and to use. work, mine. operate.
explore and develop the same; 90 purchase,
lease, erect own and operate stamp or other
mills. concentratogs, crushers, smelters and
all other kinds Of reduction works and dry
washers to buy, own. sell, exchange and deal
in ores. sand. gravel. lumber and all kinds
Of goods and merchandise TO own. conduct
and lease supply houses. stores. restaurants,
hotels, and boarding houses, and to do a
general mercantile. manufacturing and min
ing business; to buy. construct. maintain.
lease and operate telegraph and telephone
lines, canals. roads, bitches, fumes. pipe
lines and reservoirs to borrow money and to
give notes and bonds therefor and to secure
the same by mortgage or trust deed upon any
of the property of this corporation also to
purchase, acquire. own. sell, pledge or other
wise dispose of the stock of this corporation
as well as the stock and bonds Of other cor.
porations, and to do and perform all things
NN-NeA ~ bAbBNAAg anu Ahlg NdINy ouN the I
objects aforesaid within the United States Of
America and the Republic of Mexico.
ARTICLE V
The authorized amount of the capital stock
of this Corporation shall be one million ISL
900. OOO) Dollars, divided into one million a.
600, OOO) shares of the par value Of one (SIO0J
dollar each. which stock may be issued in ex-
change for money, property, services, or the
stock of other corporations, at such times and
upon such terms and conditions as the
Board of Directors may determine, and the
capital stock when so issued shall thereupon
and thereby be and become fully paid and nom
assessable, the Judgment of the Directors as
to the value of the property purchased, and the
services rendered, shall be conclusive.
ARTICLE VI
The business affairs of this corporation shall
be conducted by a Board of Directors, con-
sisting Of not less than three (3) nor more
than five 90 members. each Of whom shall
be a stakeholder of this corporation. Said
Directors shall be elected annually. at the
regular annual meeting of the stockholders Of
this corporation which shall be held on the
second Monday of May in each year hereaf-
ter, and they shall hold thar offices until
their successors are elected and qualified
Any vacancy in the Board Of Directors
may be filed by the remaining members of
the Board by appointment from among the
stockholders. and such appointment shall be
for the unexpirVd term for which the APP
pointment is made.
The Board Of Directors shall have the power
TO adopt bylaws and to amend and repeal
the same: to define the duties of the Off
GERS. agents and clerks of this Corporation.
and to make all rules and regulations deemed
necessary and proper for the management of
the affairs and Of the business of this cor
~poration.
The following persons shall constitute the
first Board Of Directors of this corporation
L. A. HoHSTADT, c. f. HANSON and J.
V. PARKS, and they shall hold their Offices
until the annual meeting Of the stockholders
OF this corporation, to be held on the second
Monday Of May. A. -. 1917.
A majority Of the Directors shall consti-
tute a quorum for the transaction Of business
at any Of their meetings, and said Directors
may hold their first meeting at any time af-
ter the commencement Of this corporation.
The officers Of this corporation shall be
a President. Vice-President. Secretary aud
Treasurer, and such other officers as the
Board Of Directors from time to time
upon. and such officers may be
elected by the Board Of Directors at their
hnt meeting to serve for the ensuing year
the Offices Of Secretary and Treasurer may
be held by the same person.
ARTICLE VII
The highest amount Of Indebtedness or La
bility. direct or contingent. to which this
corporation shall at any time subject itself,
shall be three hundred thousand $500. OOO)
dollars.
ARTICLE VIII
The private property Of the stockholders Of
this corporation shall be forever exempt from
it, corporate debts Of every nature whatsO-
ever.
ARTICLE TX
These Articles Of Incorporation may be
changed or Omended at any regular meet
Ing Of The ahoekholders. A. ans sn.ei.i 49,