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Collection: Original Records > Articles of Incorporation

Gates Stockton Hill Mine (AI-G183)(1948) (9 pages)

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forred to in Article VII of this agreement, then each of them shall reeeive One Percent (1%) of the net profits from seid business fox each One thousand Dollars ($1,000.00) of their several contributions, or 1f said contribution is made through she addition of othor limited partners, said limited partners shell share prorate in said Twentyesix Percent (26%) of said net profits "Net profits of the business of the partnership" is hereby defined as the sum remaining at the ond of said fiscal year after subtracting from the sales procgeds of metal products profuced from said mining operations ag receivad by the partnership, the following coats and expenditures connected with gaid operations: {a} Tho cost of mining, milling, smelting, transporbes ion, general mins expense, accounting, legal, and other expenses and costs directly related to the opsrations and production; provided that only such salaries ghail be deducted ag a cost of oparation aa the parties hereto may azree to in writing, (b) 3 veling expenses incident to mine management, ta she expediting of transpotetion of materials or gup= piles, and to such othor purposes as ara reasonably neces] sary in properly carrying on the operstions. {c) All property taxes, real oy personal, bullion or severance taxes, wage taxes, oxcise taxes, sales and use taxes (but not any personal income or franchise taxes, state or federal, of the parties herotc), and premiums paye bf.