The Winslow mail., 1916-05-19

Two Hundred Thousand Dollars
| ($200,000), divided into Two Hun
dred Thousand (20O,OOO) shares of
the par value of One Dollar ($1.OO)
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
5his corporation shall be the day a
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
ege of renewal, as now provided by
law
ARTICLE VII
The affairs of this corporation shall
De conducted by Board consisting of
lot less than three nor more than
seven directors, by whom a president
md vice president shall be elected
md a secretary and treasurer ap-
pointed. The directors shall be elect
ID by and from among the stock
lolders of record on the second Mon
lay of December Of each year, and
hall serve until their successors are
elected and qualified. Until their
successors are elected and qualified,
he following named persons shall be
he directors and officers of this cor
ooration:
President, J. B. Drumm, Winslow,
Arizona.
Vice president, G. L. Drumm, Bar
tow, California.
Secretary Treasurer, F. A. Wills,
Needles. California.
Director, G. A. Johnston, Needles,
California.
Director, c. NJ. Morgan, Needles,
California.
ARTICLE VIII
The Board of Directors shall adopt
bylaws for the government of the
orporation and may amend said by
avs. They shall also have power to
i'll vacancies occurring in the Board
rom any cause, and to appoint from
lmong their number an Executive
Committee which, to the extent pro-
rided by resolution or by the said by
aws, shall have and exercise the
,owers granted the Board of Direct
4 )rs by these Articles.
ARTICLE TX
The officers of this corporation
4 shall be president, vice-president,
Il secretary and treasurer, which latter
wo Offices may be held by the same
4 person; the Board of Directors may
4 reate any other offices that they
leem necessary and shall prescribe
he qualifications and duties of all
4 )f1icers of this corporation.
ARTICLE x
The highest amount of indebtedness
II liability to which this corporation
shall at any time subject itself is
One Hundred Thousand Dollars
($1O00OO).
ARTICLE XI
The private property Of the incor-
1orators and stockholders of this cor
1oration 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
lereunto set our hands and seals on
! his 22nd dav of Anril. in the year