The Coconino sun., 1915-07-23

dollar each. At such times as the Board of Directors may by resolution direct, said capital stock shall be paid into this corporation, either in cash or by the sale and transfer to it of real and personal property, contracts, services, or any other valuable right or thing for the use and purposes of said corporation, in payment for which. shares of the capital stock tf said corporation, may be issued, and the capital stock so issued shall there upon and thereby become and be fully paid up and non-assessable forever, and in the absence of actual fraud in the transaction the judgment of the Directors as to the value of the pro- perty purchased shall be conclusive.
 ARTICLE V. The time of the com mencement of this corporation shall date from the date of the filing of the certified copy of these Articles of h. corporation in the office of the County Recorder of Coconino County, State of Arizona, and the termination there of shall be twenty-five years there after, with the privilege of renewal as provided by law. ARTICLE VI. The affairs of this corporation shall be conducted by . Board of Directors, and such officers as the Directors may elect or appoint, and the following named shall con- stitute the Board of Directors until their successors are elected and have qualified: George w. Mccormick, Fred Hensing, Jr., c. D. Dawson and Fran cis D. Crable. Therafter the Board of Directors shall be elected from the stockholders at the annual Stockhold- ers' meeting to be held on the First Tuesday in December of each year. The names of the officers who shall have charge of the corporate affairs are: George w. Mccormick, Presi- dent, Fred Hensing, Jr., Vice Presi- dent, c. D. Dawson, Treasurer and Francis D. Crable, Secretary. ARTICLE VII. The board of Di- rectors shall have the power to adopt and amend Bylaws for the govern ment of the corporation, to fill vacan- cies occurring in the Board from any cause, and to appoint an Executive Committee and vest said committee with such powers as they may de- termine.
 ARTICLE VIII. The highest amount of indebtedness or liability, direct or contingent, to which this corporation shall be subject at any one time shall be Four Hundred Thousand ($4OO, ,OOO.OO) dollars.
 ARTICLE TX. The private property of the stockholders and officers of this corporation shall be exempt from all corporate debts of any kind what soever.
 ARTICLE X. The names, resi- dences and postoffice addresses of the corporators are:
 George w. Mccormick, Flagstaff, Arizona.
 Fred Hensing, IT,, Flagstaff, Ari- zona.
 c. D. Dawson, Flagstaff, Arizona.
 Francis D. Crable, Flagstaff, Ari- Zona.
 In Witness Whereof, We have here unto set our hands and seals this 22nd day of May, A. D. 1915. (SeaD
 GEO. w. MCCORMICK,
 FRED HENsING, Jr. (SealD
 c. D. DAWSON, (SeaD
 FRANCIS D. CRABLE. STATE OF ARIZONA, )
 County of Coconino
 This instrument was acknowledged before me this 1st day of June, A. D. 1915 by George w. Mccormick, Fred Hensing, Jr., c. D. Dawson and Fran cis D. Crable.
 CHAS. H. ADAMS,
 Notary Public (Notarial SeaD
 My commission as Notary Public expires August 18th, 1916.
 Two documentary 5c stamps U. s. I. R. June 1st, 1915. c. H. A.
 Filed in the office of the Arizona Corporation Commission this 3rd day of June A. D. 1915 at 1O:O0 o'clock A. M., at request of Francis D. Crable, whose postoffice address is Flagstaff, Arizona.
 ARIZONA CORPORATION CON- nGrnornAY