The Coconino sun., 1915-04-09

5. The leasing to others of all kinds of live stock.
 4. The purchasing, leasing and acquiring by any and all lawful means ranges, ranches, and all other kinds ofreal property, water, water rights, and personal proper ty of every sort and description that in the judgement of its Board of Directors may be desirable for the carrying on and maintenance ot its general business.
 5. To mortgage or pledge any or all of its property to such ex- tent and at such times as its stock holders may see fit.
 6. To do all and everything necessary for the accomplishment of any of the purposes or e.further- ance of any of the powers herein before set forth either as principal or agent.
 ARTICLE V
 The time of commencement of this corporation shall be the date of the issuance to it of a certificate of incorporation by the Arizona Corporation Commission and shall terminate twenty-five years there after.
 ARTICLE VI
 The amount of capital stock of this corporation shall be Three Hundred Thousand (S3oo, 900. o.oo) dollars, divided into shares of the par value ot one hundred (SIoo. .oo) dollars each. Such stock shall be issued under the direction of the Board of Directors and shall be fully paid up at the time of deliv- cry.
 The Board ot Directors may authorize and cause stock to be issued in exchange for real or per sonal property and the judgement of the Board of Directors as to the full value of such property shall, in the absence of fraud, be con- elusive.
 ARTICLE VII
 The prudential and business affairs of the corporation shall be conducted by Board of Directors consisting of three persons who shall be elected at meeting of the stockholders held on the first Tuesday in the month o January of each year beginning with the year 1915.
 ARTICLE VIII
 The private property of the stockholders shall be forever ex- empt from corporate debts of any kind whatever.
 ARTICLE TX
 The officers of this corporation shall be a President and General Manager, Vice President and Sec- retary and Treasurer, the same persons may be chosen to fill any two offices.
 ARTICLE X
 The following named persons have been selected and shall con- stitute the Board of Directors un- til.the first annual election, to-wit:
 Colin Campbell, T. E. Pollock and John Zalaha.
 The officers of said corporation who have been selected and shall serve until their successors have been elected and duly qualified are as follows:
 Colin Campbell, President and General Manager.
 T. E. Pollock, Vice.President.
 John Zalaha, Secretary and Treasurer.
 The Board of Directors shall have the power to fill vacancies in its membership and in the offices of the corporation.
 The Board of Directors may adopt a common seal and may adopt bylaws and may amend or repeal the same and shall have the power and authority to transact any business within the power of the corporation and to delegate such power and authority as it may deem expedient to any officer of the corporation.
 ARTICLE XI
 The highest amount of indeb- tedness and liability direct or con. tingent, to which the corporation is at any time to subject itself is in the sum of Two Hundred Thou sand ($2oo. .ooo.oo) dollars. IN WITNESS WHEREOF we have hereunto set our hands this 9th day of March, A. D. 1915.
 Colin Campbell,
 T. E. Pollock,