Western liberal. (Lordsburg, N.M.) 1887-1919, 1917-05-11

places Of business and offices, either
within or without the State of Ari-
IONA, as the Directors may determine,
at any Of which offices, its books may
be kept, all meetings Of stockholders
and directors may be held and other
business transacted.
ARTICLE g. The general nature
Of the business proposed to be trans
acted is as follows; To make con-
tracts, to purchase, lease option, To-
cate or otherwise acquire, own, ex-
change, sell, or otherwise dispose of,
pledge, mortgage, hypothecate and
deal in mines, mining claims and
mineral lands, water and water
rights, and to work, explore, operate
and develop the same, and to extract
any and all minerals therefrOm and
deal in the products and by%-products
thereof; to purchase, lease or other
wise acquire, erect, own, operate or
sell smelling and o~re-reduction works
and power plants; to build and oper-
ate electric light, heating and power
plants; to construct and operate
private telephone and telegraph wires
or for any other purpose; to do a
general mercantile business; to own
and control shares Of its own capital
stock, and that Of other corporation,
and TO vote any such stock owned by
it, the same as a natural person
might do; to issue bonds, notes,
debentures and other evidences of in
d%ebtedness and secure the payment of
or otherwise; to borrow and loan
.a-..v. 81 - -1--.-T - IL -AI 49,
form such acts and things, and trans
act such business not inconsistent
with law in any place as the Board
of Directors may deem to the ad-
vantage of the corporation.
ARTICLE a. The Authorized
amount of capital stock Of this Cor
poration shall be ONE MILLION
DOLLARS, ISL 00, 000), divided into
Two Hundred Thousand shares of the
par value of five dollars each. At
such time as the Board of Directors
NAV by resolution direct, said
capital stock shall be paid into the
corporation, either in cash or by the
sale and transfer to it of real or
personal property, contracts, services
or any other valuable right or thing
for the use and purposes Of said cor
poration, in payment for which shares
of the capital stock of said Corpora
ton may be issued and the capital
stock so issued shall thereupon and
thereafter become and be fully paid
up, and in the absence of actual fraud
in the transaction, the judgment Of
the directors as to the value of the
property purchased or services rend-
cred, shall be conclusive.
ARTICLE 8. The time of the
commencement of this Corporation
shall be the date of the issuance to
it by the Arizona Corporation Com
mission of a certificate of incorpor-
alton, and the termination thereof
shall be twenty-five years thereafter,
with the privilege of renewal, as pro-
vided by law.
ARTICLE 6. The affairs Of this
Corporation shall be conducted by a
board of Directors until their sue
cessors are elected, and the following
named shall constitute the present
BOARD: GEORGE A. KALAR, Steeple
Rock, N. NJ, MORGAN M. WILSON,
Tucson, Arizona, HARVEY l..
WAITE, Bowie, Arizona, CHAS. D.
ALLEN. Ell Paso, Texas, and w. c.
DOWNEY, Lordsburg, N. M. There
after the Board of Directors shall be
elected from among the stockholders
at the annual stockholders meeting
to be held on the first Wednesday in
January of each year.
ARTICLE Z. The Directors chall
have power to adopt and amend by
laws for the government of the cor
poration, to fill vacancies occurring iT
the board from any cause and to ap-
point an executive committee witt
all the powers granted the Directors
by these articles, All amendments
to bylaws must be approved anC
ratified by at least t%wo-thirds of the
outstanding stock at the annua
meeting or a special meeting of the
stockholders.
ARTICLE g.. The highest amount
of indebtedness, direct or contingent
to which the corporation shall be sub
ject to, at any n time Shall b'
$300,000
ARTICLE 8. The private property
of the stockholders and officers of tbs
Corporation shall be exempt from al
corporate debts of any kind whatso
ever.