The Holbrook news., 1918-08-09
STATE OF ARIZONA
Office of the Arizona Corporation
 Commission.

OF
 MERCHANTS & STOCK GROWERS
 BANK
 which were filed in the office of saiC Arizona Corporation Commission or the 18th day of July, A. D. 1918, d 10:OO o'clock a. nl., as provided by law.
 In Testimony Whereof, The Arizona Corporation Commission, by it's Chair man, has hereunto set it's hand and af fixed it's Official Seal. Done at the City of Phoenix, the Capitol, this 16tI day of July, A. D. 1918. l (SeaD
 ARIZONA CORPORATION COM
 MISSION,
 F. A. JONES, Chairman. Attest:
 SAM W. PROCTOR, Secretary. AMENDMENT TO ARTICLES OF INCORPORATION OF THE MFR
 CHANTS & STOCK GROWERS
 BANK OF HOLBROOK, ARI-
 IONA.
 Know All Men By These Presents: That at meeting of the stockhold- CTS of the Merchants and Stock Grow CTS Bank, corporation, held at the office of the Company in Holbrook Navajo County, Arizona, on the 10th day of June, 1918, after due notice of the time, place and purpose of the | meeting, by an affirmative vote of the majority of the issued and out standing stock of the Company, Arti- cles five (5), six (6) and twelve (12) respectively, of the Articles of Incor- poration of said Merchants & Stock Growers Bank, a corporation, were duly amended to read as follows, to- wit:
 ARTICLE 5
 Which did read:
 The authorized amount of capital stock of this corporation shall be Fifty Thousand S5O,OOOOO), and shall be divided into five hundred (50O) shares of the par value of One Hun dred (100) Dollars each; all of said stock shall be fully subscribed for and Twenty-Five Thousand ($25,0O0.OO) Dollars thereof shal be actually paid in to the corporation before the cor poration begins the transaction of business. The remaining Twenty-Five Thousal ($25, 5,000.00) Dollars of said capital stock shall be paid in at such a time as the Board of Directors may call for the same; all said capital stock shall be paid for in cash, or it's equiv alent, at not less than it's par value. Amended to read thus:
 The authorized amount of the cap ital stock of this corporation shall be and is One Hundred Thousand (S1OO,- OO0.O0) Dollars and shall be divided into one thousand (1000) shares of the par value of One Hundred ($10O.O0) Dollars each; and all of said capital stock shall be paid for in cash, or it's equivalent, at not less than its par value.
 ARTICLE 6
 Which did read:
 The affairs of said corporation shall be conducted by Board of Directors consisting of five persons. Until the first Tuesday after the first Monday in January, 1910, the following named persons shall constitute the Board of Directors of this corporation:
 G. T. Cline John R. Hulet
 Adolf Schuster Robert Scott
 H. H. Scorse
 The stockholders of this corporation shall hold an annual meeting on the first Tuesday after the first Monday in January, 1910, and annually there after, and at such annual stockholders meeting a Board of Directors shall be elected to hold office for the ensuing year.
 Amended to read thus:
 The affairs of the said corporation shall be conducted by Board of Di rectors consisting of seven persons. Until the first Tuesday after the first Monday in January, 1919, the follow ing named persons, except as provided hereinafter, shall constitute the Board of Directors of this corporation:
 John R. Hulet Robert Scott
 Adolf Schuster H. H. Scorse
 c. H. Brown
 The stockholders of this corpora tion shall hold an annual meeting on the first Tuesday after the first Mon day in January of each year, and at any such annual meeting of stockhOld- CTS a Board of Directors, from among the stockholders, shall be elected to hold office for the ensuing year; pro vided that the Board of Directors, 2s IOW COllSIlIuICOl, Sl4il lOIiiliIelCC Sihu elect two members to serve as direc- tors until the next annual stockhold- ers' meeting to fill the vacancies now existing on the Board of Directors.
 ARTICLE 12.
 Which did read:
 The highest amount of indebtedness or liability, direct or contingent, to which this corporation is at any one time to subject itself, except for lia- bility on deposits, is Thirty-three Thousand ($33 ,0O0.O0) Dollars. Amended to read thus:
 The highest amount of indebtedness or liability, to which this corporation is at any one time to subject itself except for liability on deposits, is Sixty-six Thousand Six Hundred ($66, ,600.00) Dollars.
 JNO. R. HULET, (SeaD President Attest:
 D. J. THOMAS. Secretary.