Holbrook argus., 1907-08-20


 powers in such respects, that private individuals now enjoy,a ,and to purchase, buy, acquire, sell or transfer the capi- tai stock of other corporations.
 III.
 That the capital stock of this corpo- ration shall be One Hundred Thous- and Dollars ($l00,0O0OO), and the var ious amounts subscribed by the Incor- porators of this Corporation shall be paid in at the time of the filing of the Articles of Incorporation in the office of the County Recorder of Navajo County, Arizona Territory.
 ".
 That the capital stock of this corpo- ration shall be divided into One Hun dred (lOO) shares of the par value of One IT. ousand ($1,00000) per share, and shall be paid in, in cash or con- tracts, services, or promissory notes, or personal or real property, at the time of its issuance, and all of said stock shall be fully paid and forever nOn-asSeSSa
 That the time of the commencement of this Corporation shall be the date of the filing of copy of these articles of IbSOl POIdIlOh III Ju6 OI1C0 or the County Recorder of the County of Navajo, Territory of Arizona, and this Corporation shall endure for a period of Twenty-Five years, unless sooner voluntarily, or by law dissolved
 VI.
 That the affairs of said Corporation are to be conducted by Board of Three Directors, from among whom a President and General Manager, a Secretary, and Treasurer are to be chosen by such Directors, and which said Board of Three Directors is to be elected annually and serve one year, or until the election and qualification of their successors, and the following persons shall constitute the Board of Directors until their successors are elected and qualify, namely: John c. Tylor, Holbrook, Arizona; George Bab- bitt, Flagstaff, Arizona; Leo F. Yer kamp, Flagstaff, Arizona.
 The annual meetings of the stock holders of this Corporation shall be held on the first Tuesday in June of each year, and at each annual meeting of the stockholders, the Directors for the ensuing year shall be chosen; and the annual meeting of the Board of | Directors shall be held on the first Wednesday in June of each year, at which annual meeting, the said Presi- dent and General Manager, and said Secretary, and said Treasurer shall be elected and said Directors may meet at such other times as the business of this Corporation shall require. VII.
 The highest amount of indebtedness or liability, direct or contingent, to which said Corporation is at any time to subject itself is Thirty Thousand ($20,000.00) Dollars.
 VIII.
 This Corporation shall have the DOW CT to establish bylaws and make all rules and regulations deemed expedi- ent or necessary for the management of it's affairs.
 The private property of the stock holders of this Corporation shall be forever exempt from the corporate debts of this corporation.
 IN WITNESS WHEREOF, we have hereunto set our hands and seals this the l7th day or May, 1907, A. D.
 JOHN c. TYLOR
 GEO. BABBITT
 LEO F. VERKAMP TERRITORY OF ARIZONA cc
 County of Coconino 00' Before me, J. S. Amundson, a Not ary Public, in and for the County of Coconino, Territory of Arizona, on this day, personally appeared John c. Tylor, George Babbitt and Leo F. Yer kamp, known to me to be the persons l Il