The Winslow mail., 1918-02-01
ARTICLE TT.


ration are as follows, towit: To own,
sell, raise, trade and deal in, cattle,
sheep, horses, mules, goats, hogs, and
all classes and kinds of live stock;
to acquire by purchase or otherwise,
and to own, sell, buy, convey, hold,
lease, mortgage, or cucumber real es-
tate and other property, personal or
mixed; to borrow money by mortgage
or other charge, to issue bonds or 9TH
er evidences Of Indebtedness, subject
to action of the Corporation Commits
sion of the State of Arizona, to sell,
dispose of, or cucumber all, or any
part of the property of the company,
subject to the limitations hereinafter
prescribed; to make contracts, to pur-
chase, lease, locate, or otherwise ac-
quire, own, exchange, sell, pledge,
mortgage, hypothecate, and deal in
any and all kinds of real and personal
property; to own, buy, sell, and han
die shares of its own capital stock and
that of other corporations; to make
all contracts and agreements necessa-
ry or proper in the premises; and, in
general, to do and perform such acts
and things and transact such business
in connection with the foregoing OBJ
jects, not inconsistent with law, in
any part Of the world, as the Board
of Directors may deem to the advan-
tage of the corporation.
ARTICLE III.
The capital stock of the corporation
shall be twenty-five thousand and
no 100 ($25,000OO) Dollars, divided
into two hundred and fifty (250)
shares of the par value of One Hun
dred and noI1OO ($1OO.OO) Dollars
each, which shall be paid in, at such
time as the Board of Directors may
designate, in cash, real, or personal
property, service, lease, option to pur-
chase, or any other valuable right or
thing, for the uses and purposes of
the corporation, and all shares of cap
ital stock when issued in exchange
therefor, shall thereupon and thereby
become and be fully paid the same as
if paid for in cash at par, and shall
be worcestershire forever, and tho
judgment of the Board of Directors as
to the value of any property, right,
or thing acquired in exchange for cap
ital stock shall be conclusive.
ARTICLE ".
The commencement of the corpora
ton shall be the date of the issuance
to it of certificate of incorporation
by the Arizona Corporation Commits
sion, and it shall endure for the f
term of twenty-five years thereafter,
with privilege of perpetual succession
as provided by statute.
ARTICLE V.
The affairs of the corporation shal
be conducted by Board of Directors
and such officers as the said directors
may elect or appoint; and the number
of directors shall be not less than
three nor more than five and shall
be elected from among the stockhold-
ers at the annual meeting to be held
on the first Monday in January OF
each year; and, until the first annual
meeting of the stockholders, and un-
til their successors have been elected
and have qualified, the following
named persons shall be the officers
and directors, towit: R. l.. Newman,
President; Robert B. Walton, Secreta-
ry and Treasurer; Irene Newman, a
Director and Josephine M. Walton, a
Director.
ARTICLE VI.
The directors shall have the power
to adopt, amend, and rescind bylaws,
to fill vacancies occurring in the
Board for any cause, and to appoint
from their own number an executive
committee and vest said committee
with all the powers granted the di-
l fecCOrS by CnoSe afClcleS.
ARTICLE VII.
The highest amount of indebted
ness or liability to which the corpora
ton may at any one time subject it
\ self is sixteen thousand six hundred
| 100000 Dollars, which is not
more than two-thirds of the amount of
the capital stock.
ARTICLE VIII.
The private property of the stock
holders of the corporation shall be
forever exempt from it's debts and OBJ
ligations.
ARTICLE TX.
This corporation does hereby ap-
point Clarence H. Jordan, of Hol-
brook, Navajo county, Arizona, who