The Coconino sun., 1907-11-07

divided into six hundred thousand 600, ,000N shares of the par value of five dollars [S5. 00l each; and said cap ital stock shall be paid up al tho date of issuance, or at such time as the Board of Directors or the Executive Committee may designate in money, property, labor, good will or for ser vices rendered, or any other valuable right or thing. The Board of Direc- tors or the Executive Committee may issue or cause to be issued, any part or all of it's capital stock, as required at any time and from time to time, and so issued it shall be fully paid and non- assessable: and in the absence of fraud in the transaction, the judgment of the Board of Directors or Executive Committee as to the value of the prop erty purchased, transferred or ex- changed or service rendered shall be conclusive. The capital stock of this corporation shall be and is hereby forever made non-assessable by this corporation for any purpose.
 Eight. The private property of the stockholders of this corporation shall be and is hereby made forever exempt from all liability for its debts or obli- gations, and there shall be no individ- ual liability on the part of either di- rectors, officers or stockholders. Ninth: The highest amount of in- debtcdness orliability, direct or con tingent, to which this corporation is at any time subject shall be one mil lion five hundred thousand dollars [sl ,500,O ,OOOl.
 Tenth: The annual meeting of the stock holders shall be held on the first Tuesday of January in each year af- ter the year 1907.
 The time of the commencement of this corporation shall be the date of the filing gof n certified copy of these | Articles of Incorporation in the of- ice of the Territorial auditor of Ari- zona.
 Eleventh: All Stock holders of this corporation shall have the right to in- spect the stock and transfer books of the corporation in the presence Of the President and Board of Directors, tor in the presence of majority of the members of the Executive Committed after proper reasons shall have been given for the request of such examina- ton.
 Twelfth: The first Board of Direc- tors of this corporation shall consist of the undersigned incorporators and other stockholders of this corporation not to exceed six, to he selected by said three incorporators. The mem bers of said first Board of Directors shall hold office until the first annual meeting of the stock-holders of this corporation, or until their successors are elected or appointed and qualified
 In Witness Whereof, We have here unto set our hands and seals and exc cuted these Articles of Incorporation this 10th day of October, A. D.. one Thousand, Nine Hundred and Seven.
 GEO. l.. R. COUPON, [sRALl
 HARLOW $. WILSON, IsEALl
 J. E. RUFFIN, [sEALL TERRITORY OF ARIZONA. | County of Coconino. ss' Before me, Edgar A. Brown, a No tary Public in and for the County of COconino, Territory of Arizona, on this day personally appeared Geo. l.. Colton, Harlow $. Wilson and John E. Ruifin, known to me to be the per sons whose names are subscribed to the foregoing instrument, and each for himself and not one for the other ac. knowledged to me that he executed the same for the purpose and considera- tion therein expressed.
 Given under my hand and seal of office this 10th day of October, A. D., One Thousand Nine Hundred and Seven. EDGARA. BROWN. lSeal.I Notary Public. My commission expires Aug. II, | l91l -43t6