The copper era and Morenci leader., 1917-05-11

method and description, to construct | build and operate plants, reduction works and smelters of the treating | and refining of minerals, ores and | matte; to purchase, lease, locate and | otherwise acquire water rights, water claims, canals, ditches and fumes and | to improve, develop and to transport | the same and for that purpose to con | struct pipe lines and appliances; to | build, construct and operate railroads | and railways, subject to the limita- tions imposed by law; to acquire and operate telephone and telegraph lines; | to purchase, locate, buy, sell or other | wise acquire or dispose of all and | every kind of lands and real estate | and to deal therein; to conduct a gen. | eral manufacturing business; to en- | gage in a general mercantile business; 1 to own and acquire timber lands al.u | to dispose of same or the products | thereof; to manufacture lumber, to operate mills; to erect, own, main | tain and conduct lodging houses, boarding houses, and hospitals; to acquire by purchase, subscription or otherwise, stocks, bonds and other obligations of other companies and to vote the same; to purchase, own, buy and otherwise acquire, and sell, is- sue, cancel, reissue it's own stock and to issue bonds, debentures or other evidences of indebtedness and obliga- tion in payment of it's property pur- chased or acquired or for any other object of it's business, and to cause to be executed and delivered notes, bonds, mortgages or other evidences of its indebtedness; to borrow or loan money, and to secure the same by mortgage, deed of trust, pledge or otherwise, to make contracts of any and every kind to the full extent as natural persons might or could do and to do all and everything in any way incident to any of the foregoing or in any way necessary to carry on the business of the corporation.
 Article Three.
 The amount of the authorized capi- tai stock of the corporation shall be seven hundred fifty thousand t$750,- 900 .00) dollars, divided into seven hundred fifty thousand shares (750,- 000) of the par value of One Dollar t$1 .0O) each which shall be paid at such times as the Board of Directors may designate, in cash, real or per tsonal property, services, leases, op- tions to purchase, or any other valu- able right or thing, including shares of the capital stock of other corpora tions, for the uses and purposes of the corporation, and all shares of capital stock when issued in exchange there for shall thereupon and thereby be- come and be fully paid the same as though paid for in cash at par, and shall be non-assessable forever, and the judgment of the Board of Direc- tors as to the value of any property right, thing or services rendered in C., f@nI -@o Ch in the absence of actual fraud, be con- elusive.
 Article Four.
 The time of the commencement of the corporation shall be the day these Articles of Incorporation are filed in accordance with law, and the termi- nation thereof shall be twenty-five years thereafter with the privilege of renewal and the right of perpetual succession now provided by law. Article Five.
 The affairs of the Corporation shall be conducted by a board of not less than three nor more than seven di- rectors by whom President ana Vice-President and Secretary and Treasurer shall be elected from among their number The offices of Secre-
 tary and Treasurer may be combined in one person at the discretion of the
 Board of Directors. The Directors
 shall be elected by the stockholders
 at the regular annual meeting of the
 stockholders of the company which
 shall be held on the first Monday in
 the month of July of each year. Un-
 til their successors are elected and
 have qualified, the following named
 persons shall be the directors:
 Henry Hill, whose address is Clifton,
 Arizona; R. R. Webster, whose ad-
 dress is Clifton, Arizona; David
 Cough whose address is Steeple Rock, New Mexico.
 The Board of Directors shall have full power to make, adopt, alter, re- scind and change Bylaws for the
 corporation. The Board of Directors
 shall have full and complete power to do all and everything necessary in the carrying on and conducting of the affairs of the corporation, and every
 thing incident thereto, and to the same
 extent as if specially authorized to
 do so by a vote of majority of the stock outstanding. Other officers may be provided for in the Bylaws as
 deemed necessary by the Board of Di, : rectors.
 , Article Six.
 The directors shall adopt bylaws i, for the government of the corporation and may amend the same. They , shall have power to fill vacancies ap bearing in the board from any cause. Article Seven.
 | The highest amount of indebtedness ? or liability, direct or contingent, tC which this corporation may be sub ject at any one time shall be Three !, hundred thousand dollars (s3OO, ,0O0.OO) I which amount does not exceed two thirds of the amount of the capita . stock.
 r Article Eight.
 The private property of the stock
 holders and officers of this corpora s tion shall be exempt from all corpor : ate debts of any kind whatsoever. s Article Nine.
 I These Articles may be amended b! j. the affirmative vote of a majority O. of a