The Winslow mail., 1916-05-26
Two Hundred Thousand Dollars


dred Thousand (20O,00O) shares of
the par value of One Dollar ($1.00)
each, and the same may be paid in,
at such time as the Board of Direct
ors shall designate, in cash, real or
personal property, services, lease,
option to purchase, or any other valu-
able right or thing, for the uses and
purposes of this corporation, and all
shares of capital stock, when issued,
shall thereupon and thereby become
and remain full paid and non-assess-
able forever, and the judgment Of the
Board of Directors as to the value of
the property, services, lease, option,
right or thing acquired in exchange
for capital stock shall be conclusive
in the absence of fraud.
ARTICLE vi
The time of the commencement of
this corporation shall be the day
certified copy of these Articles is re-
corded in the office of the recorder of
Navajo County, State of Arizona, in
accordance with the law; and the
termination thereof shall be twenty
i've years thereafter, with the privi
lege of renewal, as now provided by
law.
ARTICLE VII
The affairs of this corporation shall
oe conducted by Board consisting Of
not less than three nor more than
seven directors, by whom a president
and president shall be elected
and a secretary and treasurer ap-
pointed. The directors shall be elect
I'd by and from among the stock
holders of record on the second Mon
lay of December of each year, and
shall serve until their successors are
elected and qualified. Until their
successors are elected and qualified,
he following named persons shall be
the directors and officers of this cor
poration:
President, J. B. Drumm, Winslow,
Arizona.
Vice-president, C. L. Drumm, Bar
stow, California.
Secretary-Treasurer, F. A. Wills,
Needles, California.
Director, C. A. Johnston, Needles,
california.
Director, C. M. Morgan, Needles,
California.
ARTICLE VIII
The Board of Directors shall adopt
/ bylaws for the government of the
corporation and may amend said by
avs. They shall also have power to
i'll vacancies occurring in the Board
from any cause, and to appoint from
among their number an Executive
4 Committee which, to the extent pro-
| Jided by resolution or by the said by
1 avs, shall have and exercise the
powers granted the Board of Direct
ors by these Articles.
ARTICLE TX
The officers of this corporation
4 shall be president, vice-president,
secretary and treasurer, which latter
/ two offices may be held by the same
person; the Board of Directors may
create any other offices that they
leem necessary and shall prescribe
l The qualifications and duties of all
E officers of this corporation.
ARTICLE X
The highest amount of Indebtedness
or liability to which this corporation
| shall at any time subject itself is
l One Hundred Thousand Dollars
| ($1OO,OOO).
ARTICLE XI
The private property of the incor-
oorators and stockholders of this cor
I ooration shall be and is hereby made
/ forever exempt from any and all
liability for the corporate debts and
/ liabilities if this corporation.
ARTICLE XII
These Articles of Incorporation
nay be amended by majority vote
If the outstanding stock of the corpo-
ration at any regular meeting of the
stockholders, or at any special meet
ng of them called for that purpose.
In Witness Whereof, We have
aereunto set our hands and seals on
this 22nd day of April, in the year
1916.
J. B. DRUMM,
'Seal)
4 O. r. DRTIMM