The border vidette., 1925-04-04

One Million Dollars Isl 900 OOO) divid.
ed into One Million Shares (l,000000
shares), of q par value OF One Dollar
each (Sl 100 each). fully paid and non
asaessable forever.
! b. At such time as the Board of Di-
rectors may authorize, by resolution
! duly adopted, sale and transfer of
| shares in said KINO COPPER COM
! PANY'S Capital Stock, may be made
| in exchange for either cash, or real or
| personal property, or for personal SER
| vices rendered. for the uses and pur.
poses of said Corporation. in return
for which shares in the Capital Stock
OF said Corporation may be issued; and
the Capital Stock go issued shall there.
upon and thereby become fully paid
| and n-assessable; while in absence
of actual fraud in such transactions the
judgment OF the Board OF Directors as
to the value OF the property purchased
| or personal services rendered, shall be-
conclusive.
c. All shares in the Capital Stock
OF this Corporation are declared here
by to be Treasury Stock and there
shall be no promotion shares'' nor
promoters stock" No shares shall
be issued exceptin in exchange for caeh,
Tor personal services or for property
interests, as stipulated in paragraph
'b' Of this III eection of these Arti.
cles OF Incorporation.
d. All shares In this Corporation
sold for cash or its equivalent in prop.
erty interests or personal services, shall
be at full par value of One Dollar per
share (Sl 90 per sh h)-and no less.
~. The time OF the commencement
of this Corporation shall be the date
of the filing with the Arizona Corpora
tion Commission of certified copy of
these Articles of Incorporation. accord.
ing to law; and the termination thereof
shall be Twenty five years thereafter.
v. The affairs of this Corporation
shall be conducted by Board OF Di-
rectors consisting OF seven memb bere,
as follows. viz Louis Hudgin, w j.
Mitchell, Allen T.. Bird, J. w Macfar-
lane. George D. Gross. Tracy Bird, all
! OF Nogales, Arizona; and T. L. Shan
non of Mowry Precinct, Santa Cruz
County, Arizona.
Directors shall hold office until the first
annual meeting of the shareholders of
this Corporation, which shall be on the
IL O'Clock A. NJ. at the Office OF the
Corporation in Nogales. Arizona; at
which said annual meeting, the sue
cessors of said Board of Directors shall
be elected by the shareholders of the
| Corporation from among their own
| number.
| 6. All annual meetings of this Cor
| pOration shall be held on the first Mon
day in March Of each year; and at such
| annual meetings a Board OF Directors
shall be elected to direct the affairs OF
| the Corporation the ensuing year.
d. AS soon as may be after their
election the Board OF Directors shall
meet and organize by selection of Off
GERS to act during the term of service
OF said Board; and such officers shall
serve until their successors are elected
and qualified.
9. Two or more offices may be con-
sOlidated under one person and when
so consolidated such Offices may be
segregated, as may be determined by
the Board of Directors.
t. A code of Bylaws may be adopt
ed for making more explicit details OF
management OF affairs of the Corpora
tiOn. However, they must be consist
enttwith the law and these Articles OF
| Incorporation.
| e. Officers to serve until the first
| annual meeting or until their success.
ors shall be elected and qualified, shall
be as follows, viz
! ALLEN T. BIRD. President and Gen.
eral Manager.
GEORGE d. GROSS, Vice President
| and Assistant General Manager
LOUIS HUDGIN, Secretary and
Treasurer.
w. ]. MITCHELL, Consulting En-.
gineer.
]. W. MACFARLANE, CONSTRUCTION
Engineer.
TRACY BIRD, Assistant Secretary
vi. The highest amount of indebt-
edness or liability, direct or contingent,
to which this Corporation is subject at
any time. shall not exceed One Hun
dred Thousand Dollars 100000 O0),
which said sum is but one tenth of the
CaI ital Stock of the Corporation, and
Il SO than two thirds thereof.
VII. Private property OF Sharehold.
ers in this Corporation shall be exempt
from liability for debts Of the Corpora
tion of any kind or nature whatsoever.
IN WITNESS WHEREOF We have
set hereunto our hands and seals at No.
gales. Santa Cruz County. Arizona, this
Twenty.elgh day of February, A. d.
1925.
LOUIS HUDGIN, l.. S.
w. J. MITCHELL, T.. S.
ALLEN 7. BIRD, L. S. 4