Arizona republican., 1920-08-07
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 ment of the same py mortgage, deed of trust or otherwise; to act as agent, trustee, broker, or in any other tldu- ciary capacity: and in general to do and perform such acts and things and transact such business in connection with the foregoing objects, not incon- sistent with law, in any part of the world, as the board of directors may deem to be to the advantage of the corporation.
 ARTICLE III
 The capital stock of the corporation shall be Ten Thousand Dollars (S1O,- 000.00), divided into one hundred shares of the par value of One Hundred Dollars (S1oO00) each, which shall be paid in at such times as the Board of Directors may designate, in cash, real or personal property, services. lease, option to purchase, or any other val uable right or thing, for the uses and purposes of the corporation, and all shares of capital stock, when issued in exchange thereof, shall thereupon and thereby become fully paid the same al though paid TOT in cash at par and shall be non- -assessable forever and the Judgment of the directors as 10 the value of any property, right or thing acquired in exchange for capital stock be conclusive.
 ARTICLE "
 The commencement of the corpora tion shall be the date of the issuance to it of certificate of incorporation by the Arizona Corporation Commls- sion, and it shall endure for the full term of twenty-five years thereafter. with privilege of perpetual succession as provided by statute. ARTICLE V. l The affairs of the corporation shall | be conducted by board of directors and such officers as the said directors | TInxa n directors shall be designated by the | bylaws and shall te elected from among the stockholders at their annual meeting to be held on the third Tues day in July of each year. Until the | first annual meeting of the stock holders and until their successors nave | been elected and have qualified. the | following named personnel shall be the officers and directors: C. H. Jay, F. H Bowman and H. M. Myers.
 ARTICLE VI.
 The directors shall have power to | adopt, amend and rescind bylaws, ana fill vacancies occurring in the board from any cause, and to appoint from their own number an executive com mittee and vest said committee with may at any one time subject itself is Six Thousand Dollars.
 ARTICLE VII The highest amount of indebtedness
 
 may at any time subject itself is Siz Thousand Dollars.
 ARTICLE VIII
 The private property of the stock holders shall be forever exempt from it's debts or obligations. ARTICLE TX
 This corporation does hereby appoin Frank R. Stewart, IT West Adams Sstreet, Phoenix, Arizona, who ha: been bona fide resident of Arizona ; for at least three years, it's lawfu agent in and for the State of Arizona for and in behalf of said company, t i. accept and acknowledge service of, anC upon whom may be served, all neces sary process or processes in any action suit or proceeding that may be ha' or brought against the said compan, in any of the courts of said State Q Arizona, such service of process O notice, or the acceptance thereof b. said agent endorsed thereon, to hay the same force and effect as if serve' upon the president and secretary O said company.
 IN WITNESS WHEREOF. We here : to affix our signatures and seals thi Sd day of July, A. D. 1920. c. H. JAY tSEAL
 F. H. BOWMAN (SEAL H. M. MYERS (SEAL l. STATE OF OHIO,
 ll COUNTY OF .FRANKLIN-ss.
 Before me, s. $. Allen, Jr., notar. public in and for the State and Count . aforesaid, on thi= day personally ap peared c. H Jay, F. H. Bowman an I H. M. Myers, known to me to be tn persons whose names are subscribe to the foregoing instrument, and ac knowledged to me that they execute . the same for the purpose and consid l eration therein expressed. g Given under my hand and seal of of f flee this 3rd day of July, A. D. 1920.
 S S. ALLEN, JR., f Notary Public. { My commission expires oh the 22n f day of March, 1922.
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