The Parker post., 1916-07-15


by the corporation; to acquire, own,
hold, sell, lease or otherwise dispose
of any and all kinds of inventions,
rights, licenses, patent rights and
letters patent; to borrow or loan
money and to issue its bonds pay
able in cash or convertible into stock
of this corporation, debentures, mort
cages, prOmissory notes and other
evidences of indebtedness therefor,
and to pledge, sell or otherwise dis
pose of the whole or amy part of the
property owned or acquired by it for
the security or payment of any debt,
Indebtedness or obligation incurred
or undertaken; to use it's stock, de
\ bentures or bonds in payment for
any property or commodity which it
may purchase or acquire; to make
contracts and to do as fully and to
the same extent as natural persons
might or could do i'm any of the
things herein set forth, either as
principal, agent or contractor, trustee
or otherwise, and, in general, to have
and exercise with respect to all
things, whether herein specifically
mentioned or not, all rights, powers,
privileges and immunities conferred
upon corporations of this class by
the laws OF the State of Arizona, and
to carry ON any business in cOnnec-
tion Herewith within or without the
state of Arizona not inconsistent with
law
ARTICLE III.
The amount of the capital stock
of this corporation shall be one hum
dred thousand 100,000) dollars, di-
vided into one million Q,00O,O00)
shares OF stock of the par value of
! ten QO cents each, which shall be
paid i'll at such times and under such
conditions as shall be deemed by the
Board of Directors to be best, in
; cash, notes, real or personal property
services, options to purchase, or amy
other valuable thing for the use and
purpose of the corporation, and all
shares of capital stock of the corpor-
alton when issued in exchange there
for, or for amy other or either of the
foregoing, shall thereafter and there
upon and thereby become and be full
paid as though paid for in cash at
par, and shall be worcestershire for
ever, and the Judgment of the Board
OF Directors as to the value of the
property, right or thing acquired in
exchange for capital stock of this
corporation shall be conclusive.
ARTICLE w.
The time of the commencement of
the corporate existence of this corpOr.
alton shall be from the time these
articles are filed, in accordance with
law, and the determination thereof
shall be twenty-five (25) years there
after, with the privilege of perpet-
ual succession, aus provided by law.
j ARTICLE W..
The highest amount of indebted
ness or liability to which the corpor
ation may at any time subject it
self, o" contract, is the sum of sixty
thousand ($6O,O0O dollars.
ARTICLE vi.
The affairs of the corporation shall
be conducted by and the management
of the business, and property of the con-
; pOration shall be vested in a Board
Of Directors and such officers as
! such directors may elect Or appoint.
The number of directors shaill be
five 60, unless otherwise provided
for in the bylaws, and said directors
shall mtheStOckhOlders at
their regular meeting to be held ON
the first Tuesday in the month of
June OF each and every year.
Until the first annual meeting of
the stockholders and until their sue
cessors are duly elected and have
qualified the officers and directors
shall be as follows: o. M. Spence of
Parker, Yuma county, Arizona, Presi-
dent and Director; M. E. Graham of
Parker, Yuma county, Arizona, Vice
President and director; j. B. Flana-
gan Of Parker, Yuma county, Ariz
Ona, Secretary Treasurer and Direc
tor; A. S. Prescott of Phoenix, Mar
icopa county, Arizona, Director, and
I. F. Burnette of Parker, Yuma coun-
| ty, Director
ARTICLE VII
The Board of Directors shall have
power to adopt amend, rescind and
alter bylaws, to fill vacancies occur
ling in the board for amy cause or
reason, and to appoint from their
own number committees and an ex-
ecutive committee with all the pow
ers granted to the directors or with
Il such powers as may be designated
TO such committee or committees by
the Board Of Directors.
The Board OF Directors shall have
it'll and complete power and author
ity to represent and do ALL and every
LltlllS NOf UIie corporation DIS Tully ana
complete as ii authorized therefor
by majority of the stockholders at
6 regular o. special meeting thereof.
ARTICLE VIII.
The private property of the stock
holders shall be forever exempt from
the corporate debts and obligations of
all kinds whatsoever.
ARTICLE TX
These articles may be amended at
any time by a majority vote Of the
outstanding stock of the corporation
at amy regular meeting of the stock
holders or any special meeting there
OF called for that purpose.
In witness whereof We have here
unto set our hands and seals this12th
L e. IL L. u