The Coconino sun., 1912-10-04

states of Utah, Wyoming, Idaho
 and Montana, and the territories O.
 Arizona and New Mexico, anC
 while the owner of such stock, tt exercise all rights. powers anc
 privileges of ownership, including the right to vote thereon, and upor a distribution of assets or division of profits, to distribute any such shares. bonds, securities or evi- dences of indebtedness, or the pro- ceeds thereof, among the stock holders of this company.
 (9) To assign, sell, mortgage, cucumber, pledge, transfer. or otherwise dispose of, any right, privilege, franchise, bonds, securi- ties, real or personal property, concessions, grants, profits or gen. eral assets which it may acquire; to exchange its stock, bonds or other property of whatsoever kind or nature. for telephone exchanges, telephone and telegraph equipment, telephone and telegraph lines and systems, in whatsoever state, ter ritory, colony or country situated i, and for rights, privileges and fran chises to construct, equip, operate and maintain telephone and tele- graph lines and systems, in any state or territory or colony of the United States, or of any foreign country.
 (1U) To acquire by lease, pur- chase, condemnation or otherwise, and to own, hold, sell. mortgage or otherwise dispose of, real and per sonal property, as may be necessary, convenient or proper for the suc- cessful conduct of the business for which this company IS organized.
 CID To borrow money and in- cur such indebtedness as in the judgment of its board of directors may be deemed necessary and proper in the conduct of its busi- ness, and to issue its bonds, deben- lures or other evidences of indebt- edness therefor. and to secure the .p y m n t h e f by mortgage or deed of trust upon any or all of the company's property, real. personal or mixed, including any and all rights, privileges or franchises which it may own or ac- quire.
 (12) To take over, acquire, pur- chase by deed. conveyance. assign ment or otherwise, and in any man. ner acquire, control, hold, own, maintain, operate. improve or ex- tend. the telephone lines, exchanges and systems, franchises, rights of way, physical properties and rights and privileges of every kind and character. owned or controlled by the Rocky Mountain Bell Tele- phone Company in the states of Utah. Montana, Idaho, Wyoming or elsewhere, and to use or operate the same in connection with or in dependentIy of the properties and franchises of this company, located elsewhere than in said states, and to sell, mortgage. lease, or other wise dispose of any such physical property, franchise or rights so &C., quired or to be acquired.
 (13) To purchase, acquire and take over as a going concern or otherwise, and to carry on, main- tain and operate. al or any part of the property. franchises, rights of every kind and character or busi- ness, of any person. firm or corpo- ration, possessed thereof, which can be incidentally used for any of the purposes of this company, or for carrying on any business which this company is authorized to carry on. and as the consideration for the same. to pay cash or to issue any stock, debentures, bonds or obligations of this company, and in connection with any such trans actinT to assume or guarantee any liabilities relating to the business or property, franchises. rights of every kind or character. or busi- ness so purchased, acquired or taken over. and likewise to issue stock for services rendered to this company, and stock issued in pay ment for such property or services shall be full paid stock, and not liable to any further call or pay ment thereon, and in the absence of actual fraud in the transaction. the judgment of the directors as to the value of the property purchased or services rendered shall be col elusive.
 (14) The board of directors may by resolution passed by majority of the whole board, designate in the manner provided in the by laws. three or more of their num- lz-