Arizona state miner., 1919-12-26

steam or electric or other kinds of rail
roads for the purpose of developing any
properties owned by it, gas, electric
light, telephone, telegraph and hydro
electric plants to be used in connection
with the operation of any of its proper
ties; to buy, sell, and generally trade
in, store, carry and transport, any and
all kinds of goods, wares and merchan
disc, provisions and supplies; to enter
into, make, perform a. Il carr, cut COZ.
tracts G. every kind and for any law
flu purpose il ciden' al to IS OF terations
and business; to issue, protect, secure
redee@ and pay bonds, securities and
OF her evidences of Indebtedness Of this
corporation when deemed necessary,
appropriate or expedient by the Direc
tors or stockholders of this corporation
aud, in general, to carry on any other
lawful business in connection with the
foregoing which may e necessary or
incidental thereto, or calculated, direc
tly or Indirectly, TO enhance the value
of the company's properties, rights or
stock and to do any and all things that
a natural person might or could law
fully do in a general mining business.
ARTICLE III.
The AMOUNT OF THE CAPITAL STOCK
of this corporation shall be One Million
Five Hundred Thousand Dollars, divided
into One Million Five Hundred Thou
and shares of the par value of One
Dollar each, and said capital stock shall
be fully paid up, at the date # issu
ance, in money, property, services,
labor or any other valuable right or
thing. in the discretion Of the Board of
Dire ctors and the judgment of said
Board, as to the value thereof. shall be
conclusive on this corporati N and its
stockholders. Said capital stock is
hereby made and shall forever remain
nom -assessab e. Said stock shall be dis
posed of in the discretion OF the Board
of Directors, rs said Board may deem
proper and it's discretion shall be final
and binding.
ARTICLE ".
The life of this corporation shall com
mence on the day when a certificate of
its Incorporation is issued by the ART
zona Corporation Commission and shall
terminate twenty five years thereafter.
ARTICLE w.
The affairs of this corporation shall
be conducted by Board of Directors
of not less than three or more than fif-
teen members and such other Off
GERS and agents as they may ap-
point or elect and all directors shall
be stockholders; the following named
persons shall constitute the directors
and officers of this Corporation until
their successors shall be elected and
qualified.
]. E. Morrison, President and Direc-
tor.
H R.. Roundtree, Vice President ard
Director.
H. A. Wardenburg, Secretary, Treas
urer and Director.
Hereafter the Board of Directors
shall be elected annually by the stock
holders, from their number at the
annual meeting of the stockholders,
to be held on the second Mon
day in January, 1921 and at each annual
meeting thereafter, which shall be held
coonnd MOndoxy iv -,
each and every year thereafter, and
shall hold Office until their successors
are elected and qualified. Toe Board
of Directors shall have the power to in
crease or decrease the numher of its
membership within the limits herein
provided and shall have the power to
fill any vacancies occurring in the Offices
or in the Board, thru any cause, for tie
unexpired term.
ARTICLE VI
The highest amount of indebtedness
direct or contingent, to which the cor
poration shall ever be subjected, shall
be two thirdz Of the total par va!ue of
the capital stock.
ARTICLE VII.
The priv .te property of the stock
holders and officers of this corporation
shall be exempt from all corporate
debts and liabliti Of any kind whatso
I ever.
ARTICLE VIII.
This corporation shall have power. at
any time, to sell, transfer and dispose
of all of its assets, upon the vote or thu
written consent of the owners of two