The Holbrook news., 1920-07-02
ARTICLES 0E INCORPORATION

KNOW ALL MEN BY THESE PRESENTS: That we, Frank Wal lace. resident of Holbrook, County of Navajo, State of Ari- zona, and Amy Wallace, a resi- dent of Holbrook. County ot l Navajo, State of Arizona, and Beatrice F. By, a resident of | Winslow, County of Navajo, State of Arizona, do hereby as- sociate ourselves together for the purpose of forming corporation under and by virtue of the laws of the State of Arizona, and we do hereby certify and declare as follows, to-wit::
 ARTICLE I.
 The names of the corporators are as follows, to-wit:
 Frank Wallace, Amy Wallace and Beatrice F. By; that the name of the corporation shall be, and is CANYON CREEK CAT TILE COMPANY; and that the principal place in which the bus mess of said corporation is to be transacted in Arizona shall be, and is, the Town of Holbrook, County of Navajo, State of Ari- zona.
 ARTICLE II.
 The objects for which said corporation IS formed and organ ized, and the general nature of the business proposed to be trans- acted by thIs corporation, are as follows, to-wit:
 To own, sell. raise, trade and deal in, cattle, sheep, horses, mules. goats. hogs. and all classes and kinds of live stock; to ac- quire by purchase or otherwise, and to own, sell. buy, convey, hold, lease, mortgage, or encum- per real estate and other prop .rty, personal or mixed; to bor- row money by mortgage or other .harge, to issue bonds or other .vidences of indebtedness, sub feet to action of the Corporation 1om mission of the State of Ari- znna, to sell. dispose of, or en- cumber all. or any part of the property of the company. s1b- ject to the limitation hereinafter prescribed; to make contracts. to purchase, lease, locate, or otherwise acquire, own, ex- change, sell. pledge. mortgage, hypothecate, and deal in any and all kinds of real estate and per sonal property; to own, buy, sell and handle shares of it's own cap- ital stock and that of other cor poratiohs; to make all contracts and agreements necessary 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 objects, not inconsist- ent with law. in any part of the world, as the Board of Directors may deem to the advantage of the corporation.
 ARTICLE III.
 The capital stock of the cor poration shall be Two Hundred and Fifty Thousand and no-100 ($250, GOO. 00) Dollars. divided in- to Twenty-Five Hundred (2500) shares of the par value of One Hundred and no-1O0 ($100. 00) Dollars each, which shall be paid in, at such time as the Board of Directors may designate. in cash. real, or personal property, ser vices, lease, option to purchase, or any other valuable right or thing, for the uses and purposes of the corporation, and all shares of capital stock when issued in exchange therefor. shall there upon and thereby become and be fully paid the same as if paid for in cash at par, and shall be non- assessable forever. and the judg- ment of the Board of Directors as to the value of any property, right. or thing acquired in ex- change for capital stock shall be conclusive.
 ARTICLE ".
 The commencement of the cor poration shall be the date of the issuance to it of certificate of incorporation by the Arizona Corporation Commission, and it shall endure for the full term of twenty-five years thereafter, with privilege of perpetual suc- cession as provided by statute.
 ARTICLE V.
 The affairs of the corporation IshaIl be conducted by Board of