The copper era and Morenci leader., 1922-12-29

perform any or all acts and things necessary and incidental to the ob- iects aforesaid, or in anywise con nected herewith.
 ARTICLE H.
 The authorized capital stock of this corporation shall be and is five hundred thousand t500,000) shares of the par value of one ($1OO) per share. Each share of stock when issued shall be first fully paid for in cash or it's cash equivalent in ser vices or property, and the board of directors is hereby given authority to fix the value of such services or property and in the absence of fraud. the value so fixed by said Board shall be conclusive; each share ot stock when so issued shall, thereafter; be non-assessable.
 ARTICLE ".
 The time of commencement Of this corporation shall be the date when the Articles of Incorporation are filed for record in the office of the Corporation Commission, of the State of Arizona, and certified copy thereof recorded in the office of the County Recorder of Greenlee County, State of Arizona, and the termination thereof shall be twenty fivet years from the date when the certified copy lis so recorded.
 ARTICLE V.
 The affairs of this corporation shall be conducted by Board Of Directors of not less than five nor more than seven, who shall serve for a period of one year, or until their successors are elected and qualified. Each director shall be stockholder of this corporation, and the mem | bership of said Board may be in- l creased. as hereinabove. provided, at any regular meeting of stockholders | or at any special meeting called for |, that purpose. The first annual meet 1 ing of stockholders for the. election of Directors and the transaction pf such other business as may properly 1 come before it shall be held on the 1 Both day of. December 1922, and said annual meeting shall thereafter Dc held on the same day of each sue I ceeding year.
 I The Board of Directors is hereby given power to fill all vacancies ir 1 said Board caused by resignation ol otherwise, and such Board is given the further power and authority tC adopt corporate seal and to affiA 1 the same to any stock certificate ol other instrument in writing, and rc l adopt bylaws. Until the annual meeting of stockholders for the cleo l tion of directors shall be held, as hereinabove provided. the following named persons, who are subscribers to and owners of at least one share of the capital stock of this corpora f.i directors: P H. Patterson, Thos. $ Smith, Ernest E. Frye, w. B. Kelly A. l.. Terry.
 The following named persons shal be and they are hereby designated as l hold office until their successors 1 have been chosen, namely: w. B. Kelly, President l P H. Patterson, Vice President.
 A. L.. Terry. Secretary
 Thos. s. Smith, Treasurer.
 Until the bylaws have been adopt ed, such board shall be convened upon the call of the President, given l by personal notice, or by writer notice, deposited in the United States i Post Office addressed to each mem Der at least three (3) days before any such meeting shall be held. Un til otherwise provided by the bylaws | three members shall constitute z quorum to transact business.
 ARTICLE VI .
 The highest amount of indebted ness or liability direct or contingent to which this corporation shall al any time subject itself, shall in nc case exceed two-thirds (2-3) of tho authorized capital stock.
 ARTICLE VII. The private property of stock holders of this corporation shall bt exempt from liability for the pay ment of corporate debts. : IN WITNESS WHEREOF, the in corporators have hereunto set thei hands and seals. this 20th day o August, 1922.
 . E. E. FRYE
 THOMAS S. SMITH P. H. PATTERSON
 W. B. KELLY STATE OF ARIZONA GREENLEE COUNTY )
 On this day, before me E. c. Fit gerald, a Notary Public in and fo the County of Greenlee, State . Arizona. personally appeared w. ! Kelly, 'Thos. s. Smith. P. H. Pattel , son, E.. E. Frye, known to me to b the persons whose names are sut scribed to the foregoing instrumen 5 and acknowledged to me that the executed the same for the uses an , purposes therein set forth. GIVEN under my hand and sea l of office this 9th day, of Septembe 1922
 f (NOTARIAL SEAL) -. l E. c. FITZGERALD.
 Notary Public. s My commission expires Jan. 2 1923.
 Filed in the office of the Arizon Corporation Commission this 26th da of Sept. A. D. 1922 at 10:00 A. NJ. a , request of w. J. Graham, whose pos office address is Phoenix, Arizona. ARIZONA CORPORATION
 COMMISSION , By D. F. JOHNSON, Chairma