The copper era and Morenci leader., 1917-07-13

nestle purposes. To construct and own telegraph and telephone lines. and wireless sta tions, and operate same as provided Ey law.
 To construct, operate or aid any railroad, tramway, highway, or turn pike, bridges or canals, which lead from the property of the company to some navigable stream, or to some eX- isting railroad high way or turnpike To own. handle and control letters i Eatect and inventions aud shares of it's own capital stock and that of other corporations and to vote any shares of stock of other corporations owned | by it the same as a natural person might or could do;
 To borrow money and issue bonds, notes, debentures and other evidences of indebtedness and secure the pay ment of the same by mortgage, deed of trust, or otherwise;
 To act as agent, trustee, broker, or in any other fiduciary capacity; and in general to do, perform such acts and things and transact such busi- ness in connection with the foregoing objects, not inconsistent with law, in any part of the world, as the. Board of Directors may deem to the advan tage of the corporation.
 ARTICLE V.
 l The authorized amount of the capi- tai stock of this corporation shall be one hundred fifty thousand and no-100 dollars. (S150,000 00), divided into one hundred fifty thousand shares of the par value of one dollar (S1 00) each. Said capital stock shall be paid at such time as the Board of Directors may designate, in cash, real or personal property, services, lease, option to pur- chase, or any other valuable right or thing. 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 up and non- assessable, the same as though paid for in cash at par. and in the absence of actual fraud in the transaction, the judgment of the board of directors of this company as to the value of the services rendered or the property purchased shall be conclusive. | ARTICLE VI.
 The time of the commencement of this corporation shall be the date of the filing of the original Articles of Iu- corporation in the office of the Cor poration Commission of the State of Arizona, and a certified copy thereof in the office of the County Recorder of the County of Greenlee, State of Arizona, and the termination thereof shall be twenty-five years thereafter with the privilege of renewal from time to time as provided by law.
 ARTICLE VII
 The affairs of this corporation shall be conducted by board of directors and such officers as the said board of directors may elect or appoint. The number of tile directors shall be de- sienated by the bylaws. and shall be elected from among the stock hold i CTS at their annual meeting. Until the first annual meeting of the stock holders. and until their successors have been elected and qualified, the following named persons shall consti- tute the board of directors, viz: O. J. Cotey, Frank H. Springer, Rodney FL lis, E. NJ Williams, Dell. NJ. Potter. Sam Abraham. Ben F. Spriggs, and Richard Stephens.
 The officers of this corporation shall be a president, vice-president, secre- tary and treasurer, and such other officers as the board of directors may, from time to time, determine, pro- vided that the president. vice presi- dent and secretary shall be chosen | from among the members of the board of directors. The treasurer need not be director of the com pany. and that office may be filled and the duties thereof discharged by any other officer of the company if and when the board of directors shall so determine.
 The officers of this corporation and
 until their successors are elected and | qualified shall be as follows: O., J. 1 Cotey. President: Frank H. Springer, 1 Eice-President: Rodney Ellis, Secre- | tary and Treasurer.
 l ARTICLE VIII
 ! The highest amount of the indebt-
 edness or liability, direct or contin-
 gent to which this corporation is or
 shall at any one time become subject,
 shall be one hundred thousand dol !, lars ($100,000 00), which amount does not exceed two-thirds of the . amount of the capital stock of this
 company.
 | ARTICLE TX.
 = The private property of the stock T holders of this corporation shall be ex- l empt from the corporate debts of this s company of any and every kind
 whatsoever.
 IN WITNESS WHEREOF, we have s hereupto subscribed our names this r. 2Ith day of May, A. D. 1917.