The Holbrook news., 1919-06-06

AMOS A. BETS, Attest: Chairman. A. E. Stelzer, Secretary. ARTICLES OF INCORPORATION OF HOLBROOK MIDWEST OIL COMPANY.
 KNOW ALL MEN BY THESE PRES
 ENTS:
 That we, the undersigned, do here by associate ourselves together for the purpose of forming a corporation un- der and pursuant to the laws of the State of Arizona, and for that pur- pose do hereby adopt articles of in- corporation as follows:
 ARTICLE I.
 The name of this corporation shall be Holbrook Midwest Oil Company.
 ARTICLE II.
 The principal place of business of this corporation, within the State of Arizona shall be at Holbrook, Navajo County; and the principal place of transacting business outside of Ari- zona shall be and at such other place as the Board of Directors may determine, where meetings of directors may be held and all business transacted.
 ARTICLE III.
 The general nature of the business proposed to be transacted, is to make contracts, to purchase, lease, option, locate or otherwise acquire, own, ex- change, sell or otherwise dispose of, pledge, mortgage, hypothecate and deal in mines, mining claims, mineral land, oil claims, oil land, oil wells, water and water rights, and other property, both real and personal, and to work, explore, operate and develop the same, and to deal in the products and by-products thereof; to purchase, lease, or otherwise acquire, erect, own, operate and sell oil refineries, rail roads and tramways to lead from the company's principal works; to engage in and generally carry on the busi- ness of mining and the development of mines and oil wells, and to bore for and produce, refine. manufacture, pipe, store, buy and sell oil, petroleum, naptha, gas and all other minerals and mineral products; to buy, sell, own, hold, lease, mortgage and gener- ally to deal in real estate of every kind and character; to own, handle or control letters patent and inventions; to do general manufacturing and mercantile business; to own, hold, buy, sell and generally to deal in pipe lines and pipeline corporations; to issue bonds, notes and other evidences of indebtedness, and to secure payment of the same by mortgage, deed of trust or otherwise; to act as agent, trustee, broker or any other fiduciary capacity, and to borrow and loan money; and to do and perform acts and things, and transact such business not inconsistent with law in any part of the world, as the Board of Directors may deem to the advantage of the corporation.
 ARTICLE ".
 The authorized amount of capital stock of this corporation shall be Two Hundred Fifty Thousand ($250,- OOO.O0) dollars, divided into 2,50O, 900 shares, of the par value of ten cents each, which shall be paid at such time as the Board of Directors may desig- nate in case, real or personal property, service, lease, option to purchase, or any valuable right or thing, for the uses of the corporation; and all shares of capital stock when issued in ex- change thereafter, shall thereupon and thereby become and be fully paid, the same as though paid for in cash at par, and shall be non-assessable for ever, and the judgment of the direc tors as to the value of any property, right or thing acquired, in exchange for capital stock shall be conclusive.
 ARTICLE V.
 The time of the commencement of this corporation shall be the date of the filing of a certified copy of these articles of incorporation, in the office of the Corporation Commission of Ar izona, and the termination thereof, shall be 25 years thereafter, with the privilege of renewal, as provided by law.
 ARTICLE VI.
 The affairs of this corporation shall be conducted by Board of Directors, of seven members, and such officers as the directors may elect or appoint, and the following names shall consti- tute the Board of Directors until their successors are elected and have been qualified:
 JACK HARDEN.
 A. L. RENCHER.
 JOSEPH F. WOODS.
 CHAS. OSBORNE.
 H. H. SCORSE, Jr.
 GEO. N. BURT.
 GEO. D. MEIKLEJOHN.
 Thereafter the Board or D1fecJorS shall be elected from among the stock holders, at the annual stockholders meeting to be held the first Monday in February of each year. The names of the officers who shall have charge of the corporate affairs are:
 JACK HARDEN, President.
 CHAS. OSBORNE, Vice President. A. F. RENCHER, Secretary and Treasurer.
 ARTICLE VII,
 The Board of Directors shall have power to adopt and amend bylaws for the government of the corporation and fill vacancies occurring in the board from any cause, and to appoint an ex- ecutive committee and vest said com mittee with such powers as they may determine.
 ARTICLE VIII.
 The highest amount of indebtedness or liability direct or contingent to which this corporation shall be sub ject at any time shall be Seventy-five Thousand and 00-100 ($75, 100000 Dol lars.
 ARTICLE K.
 The private property of the stock holders of this corporation shall be ex- empt from all corporate debts what