The border vidette., 1925-03-14

One Million Dollars ($i 900 OC0). divid-
ed into One Million Shares (l,00O,O0O
shares), of q par value of One Dollar
each Isl 90 eacb). fully paid and non.
Rssessable 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 ke 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 80 issued shall there.
upon and thereby become fully paid
and worcestershire; while In absence
of actual fraud in such transactions the
Judgment Of the Board Of Directors an
TO the value OF the property purchased
or personal services rendered, shall ba
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 except in exchange for cash,
for personal services or for property
interests, as stipulated in paragraph
"b'' OF this III section 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 tSl 90 per sh) land no less.
". The time OF the commencement
of this Corporation shall be the date
of the filing with the Arizona Corpora
tion Commission of a 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 o Board of Di-
rectors consisting OF seven mem bers
As follows, viz !: Louis Hudgln. w J.
Mitchell, Allen T. Bird, J.. w Macfar-
lane, George d. Gross. Tracy Bird. all
of Nogales, ArizOna; and r. l.. Shan.
non Of Mowry Precinct, Santa Cruz
County, Arizona.
b. AS 40 constituted said Board of
Directors shall hold office until the first
annual meeting Of the shareholders of
this Corporation, which shall be on the
first Monday.in March. A. D. 1926. at
il O'CLOCK A. M., at the Office of the
Corporation in Nogales. Arizona; at
which said annual meeting. the sue
cessors OF said Board of Directors shalt
be elected by the shareholders OF the
Corporation from among their own
number.
9. 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 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
90 consolidated such Offices may be
segregated, as may be determined by
the Board of Directors.
f. 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
ent with 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
F ALLEN T. BIRD. President and Gen.
eral Manager
GEORGE D GROSS. Vice President
and Assistant General Manager
LOUIS HUDGIN, Secretary and
Treasurer
w. J, MITCHELL, Consulting En-
gineer.
J. w. MACFARLANE, Construction
Engineer.
TRACY BIRD, Assistant Secretary.
vi. The, highest amount of indebt-
edness or liability. d lrect or contingent,
to which this Corporation is subject at
any time. shall not exceed One Hun
dred Thousand Dollars (Sl0000O O0).
which said sum is but one tenth of the
Capital Stock of the Corporation, and
ltse 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. eighth day of February, A. d.
1925.
LOUIS HUDGIN, L. S.
w, j. MITCHELL, L. S.