The Winslow mail., 1916-05-12

Two Hundred Thousand Dollars
($2O0,O00), divided into Two Hun
dred Thousand (2O0,OOO) shares of
the par value of One Dollar (S1.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
5he property, services, lease, option,
right or thing acquired in exchange
for capital stock shall be conclusive
n the absence of fraud.
ARTICLE VI
The time of the commencement of
his 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
ermination thereof shall be twenty
i've years thereafter, with the privi-
ege of renewal, as now provided by
aw.
ARTICLE VII
The affairs of this corporation shall
)e conducted by Board consisting of
,ot less than three nor more than
even directors, by whom a president
md vice president shall be elected
md a secretary and treasurer ap-
pointed The directors shall be elect
d by and from among the stock
olders of record on the second Mon
ay of December of each year, and
hall serve until their successors are
lected and qualified. Until their
successors are elected and qualified,
he following named persons shall be
he directors and officers of this cor
)oration:
President, j. B. Drumm, Winslow,
arizona.
Vice-president, G. L. Drumm, Bar
tow, California,
Secretary Treasurer, f. A. Wills,
Jeedles, California.
Director, C. 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
.mong their number an Executive
Committee which, to the extent pro
ided by resolution or by the said by
avs, shall have and exercise the
covers granted the Board Of Direct
,rs by these Articles.
ARTICLE X
The officers of this corporation
hall be president, vicepresident,
iecretary and treasurer, which latter
wo offices may be held by the same
,erson; the Board of Directors may
reate any other offices that they
leem necessary and shall prescribe
he qualifications and duties of all
Ulcers of this corporation.
ARTICLE X
The highest amount of indebtedness
liability to which this corporation
hall at any time subject itself is
)ne Hundred Thousand Dollars
S1O0,OOO).
ARTICLE XI
The private property of the incor-
)orators and stockholders of this cor
,oration shall be and is hereby made
'orever 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-
,ation at any regular meeting of the
stockholders, or at any special meet
ng of them called for that purpose.
In Witness Whereof, We have
,ereunto set our hands and seals on