The Coconino sun., 1916-09-22

established by the Board of Directors at any other place in the State of Arizona.
 ARTICLE "
 The purpose of this corporation and the principal nature of the business proposed to be transacted is: 1. To carry on and conduct gen. eral merchandise business and trad ing post, to handle wholesale and re- tail merchandise of all kinds, to buy, sell, barter and trade, wholesale and retail, all kinds of wares, goods, mer- chandise and commodities of every nature and kind. To buy, hold and sell live stock.
 2. To purchase, hold, sell, improve and lease real estate, to mortgage and cucumber the same, and to erect, build, construct, manage, care for and maintain, extend and alter buildings thereon, and do everything necessary to be done in the conducting and man aging general merchandise business and trading post.
 8. To borrow and loan money nec- essary to carry on such business and to execute and take notes for the same, and to secure the payment of said notes by mortgage, deed or oth- erwise.
 ARTICLE V The time of commencement of this corporation shall be the date of the issuance to it of certificate of in- corporation by the Arizona Corpora ton Commission and shall terminate twenty-five years thereafter. ARTICLE VI The amount of capital stock of this corporation shall be twelve thousand dollars ($12,000.0O), divided into shares of the par value of one hun. dred dollars (s10O.o0) each. Such stock shall be issued under the direc- tion of the Board of Directors and shall be fully paid for at the time o1 delivery. The Board of Directors may authorize and cause stock to bs issued in exchange for real or per. sonal property, and the judgment oi the Board of Directors as to the full value of such property shall in tn, absence of fraud be conclusive.
 ARTICLE VII
 The prudential and business affair of this corporation shall be conducted by Board of Directors, consisting ot three persons, who shall be elected at meeting of the stockholders helt on the first Tuesday in the month O January of each year, beginning witl the year 1916, providing that in cas, such meeting of the stockholders is no held, the persons then constituting tn Board of Directors, shall continue t so act until such time as a meetin, of the stockholders is duly and regu ] larly called and held. ' ARTICLE VIII
 The private property of the stock holders shall be forever exempt iron corporate debts of any kind whatso ever.
 ARTICLE TX l The officers of this corporation shall be President and General Man ager, Vice President, and Secretar. and Treasurer; the same person ma, be chosen to fill any two offices.
 ARTICLE X
 The following named persons hay been selected and shall constitute tn Board of Directors until the first an nual election, to-wit: F. D. Kren7 R. R. Krenz, J. c. Datum.
 The officers of said corporation, wh have been selected and shall serve un i til their successors have been electe and duly qualified, are as follows:
 F. D. Krenz, President and Genera Manager; R. R. Krenz, Vice Presi dent; J. c. Datum, Secretary an Treasurer.
 4 The Board of Directors shall hay the power to fill any vacancies in it membership and in the offices of tn corporation.
 The Board of Directors may adop a common seal and may adopt by laws and may amend or repeal tn same and shall have the power t transact any business within tn power of the corporation, and to dele gate such power and authority as may deem expedient to any officer o the corporation.
 ARTICLE XI %
 The highest amount of indebtedness