The Parker post., 1917-02-17

ARl1CLE IF.
The amount of the capital stock of
this corporation shall be Five Mil
lion Dollars ($5,00O,O0O.OO) divided in
to five million (5,0O0,000 shares of
the par value of One Dollar ($1.OO)
per share, and the same, when issued
shall be forever fully paid and non
assessable. Said stock shall beissu-
ed at such time or times, and upon
such terms and conditions as may be
provided for by the board of direc-
tors, and same may be exchanged
for mines, mining claims, or for any
other property, real or personal, or
for benefits accruing or for services
rendered to the corporation. in any
manner or form whatever, as the
board of directors may determine,
and in the absence OF actual fraud
in the transaction such determination
of the board of directors shall be
final
ARTICLE V.
The time of the commencement Of
this corporation shall be the day up
on which a certified copy of these
Articles OF Incorporation from the
Arizona Corporation Commission are
recorded in the office of the Record
er OF Yuma county, Arizona, and the
termination thereof shall be twenty
five years thereafter, with privilege
Of renewal as provided by law.
ARTICLE vi.
The management and control of the
business, property and affairs of
this corporation shall consist of
board of not less than five nor more
than nine directors, who shall be
elected from among the stockholders
of record at the regular annual meet
ing OF the stockholders, which annual
meeting shall be held on the third
Monday in November of each year,
and said directors SO elected shall
hold office for one year, or until
their successors are elected and quail
flied; any vacancy which may occur
in said board of directors, whether
caused by death, resignation, or
otherwise, shall be filled by election
by the remaining members OF said
board Of directors from among the
stockholders of record. Said board
OF directors shall have the power to
establish bylaws and make all the
rules and regulations necessary for
the conduct and management of the
affairs of the corporation, not incon-
sistent with law OR these articles of
Incorporation. Until the first annual
meeting of the stockholders the fol-
lowing shall constitute the board of
directors of this corporation: TIM
CARL LEONARDT, r. J
of Los Angeles, Califor-
MIA, j P. SWEENEY, of Houston,
Texas, O. M. SPENCE of Parker, Ar
iona, and PAUL C. THORNE, of
Oatman, Arizona.
ARTICLE VII.
The officers of this corporation
shall consist of a President, a Vice
President, a Secretary and Treasurer,
both of which last named officers
may be held by the same person, to-
gether with such other officer or Of
ficers as the board Of directors may
from time to time determine. The
board of directors, when selected,
shall elect the officers of the corpor-
alton, and the President and Vice
President shall be from among their
own number. The officers so select
ed shall hold office until the annual
meeting of the board of directors,
which shall be held as soon as prac-
ticable following the annual stock
holders meeting, and shall there
after be selected at said annual
meeting of the board of directors and
shall hold office for one year, or I'M
til their successors are elected and
qualified.
The following named persons shall
serve as the officers of the corpora
tion until the first annual meeting G.
the board of directors, or until their
successors are elected and qualified,
to-wit:
T. j. CARRIGAN, President.
TIM SPELLACY, Vice-President.
o. M. SPENCE, Secretary and
Treasurer.
ARTICLE VIII.
The highest amount OF indebtedness
or liability, direct or contingent, to
which this corporation shall at any
time subject itself, is the sum of
three million dollars $4,000, ,000.00).
ARTICLE TX.
The private property OF the incor-
porators, stockholders and directors
Of this corporation shall be and is
hereby made forever exempt from
dly dIlu all lldpIllLl6S Tor UuG COfpOf-
ate debts, Of any kind whatsoever.
ARTICLE x
These articles of incorporation may
be amended by majority vote of the
stock of the corporation
at any regular meeting OF the stock
holders, or at any special meeting
thereof called for that purpose.
ARTICLE XI.
In furtherance, and not in limita-
tion OF the powers conferred by stat
ute, the board OF directors is express
ly authorized:
To make, alter, amend and rescind
the bylaws OF this corporation; to
fix the amount to be reserved as
working capital; to authorize and
cause to be executed mortgages and
liens upon the real and personal prop
erty OF this corporation.
From time to time to determine
whether and to what extent, and at
what time and places and under what
and regulations, the ac-
counts and hnolzc of tbiC