The Snowflake herald., 1921-02-25
quired in exchange for capital
stock shall be conclusive.

The time or the commence
ment of the above-named cor
poration shall be the date of the
filing of a certified copy of these
articles of incorporation in the
office of the Corporation Com
mission of Ariz ma; and the ter
mination of these articles and
the duration of their force and
binding effect shall be for a
period of twenty-five (25) years,
provided, however, that said
articles may be renewed for a
like or different period as pro-
vided by law.
Article vi.
The affairs of this corporation
shall be managed by and con-
Quoted by a Board of Directors,
seven ca in number, and such
officers as the said Board of Di-
rectors may elect or appoint,
and the following persons shall
constitute the Board of Direc-
tors until their successors are
elected and qualified: w. E..
Beck, A. 2. Palmer, j. j. Shum-
way, K. 7. Hatch. John Pearce,
Arthur Palmer, and j. H. Allen.
The following officers shall
hold office until their successors
shall be elected and qualified:
President. w. E. Beck, Vice
President, A. 2. Palmer, Secre-
tary and Treasurer, Arthur Pal
mer.
Thereafter, upon the last Sat
urday of March of each year, at
7:30 P. NJ, at Taylor, Navajo
County, Arizona, the Board of
Directors shall be elected from
among the stockholders of the
said corporation and this shall
be deemed the annual stock
holders meeting of the said
corporation. On the same date,
or not later than three days
after the said date, the Board
of Directors shall proceed to
elect or appoint the officers for
the said company or institution
for period of one year begin
ming with the first day Of April
of each and every year.
Article VII.
The Board of Directors shall
have the power to adopt and
amend a constitution and by
laws for the government of the
said corporation and to fill all
vacancies occurring among the
officers of the said corporation
and to fill all vacancies occurrirg e
among the officers of the said
corporation or in the Board of
Directors, and they shall also
have power to appoint an execu-
tive committee with such powers
as shall hereafter be determined.
Article VIII.
The highest amount of indebt-
edness or liability, direct or
contingent to which this cor
poration shall at any time be
subject shall be Sixteen Thous-
and, Six Hundred Sixty-Six and
66-100 Dollars, or an amount
equal to two-thirds the amount
of the Capital Stock Of the said
corporation.
Article TX.
The private property of the
stockholders of this corporation
shall be exempt from all cor
porate debts whatsoever.
Article X.
The names and residences and
postoffice addresses of the cor
porators are: w. E. Beck, Show
low, Arizona; A. z. Palmer,
Mesa, Arizona; Arthur Palmer,
Taylor, Arizona.
State of Arizona 90
County Of Navajo %
Before me a Notary Public, in
and for the County and State
aforesaid, on this day, person
ally appeared w. E. Beck, and
Arthur Palmer, known to me as
the persons whose names are
subscribed to the foregoing in
strument and acknowledged to
me that they executed the same
for the purpose and considera-
tion therein expressed. Given
under my hand and seal of office
this 18th day of January, 1921.
George w. Woolford,
Notary Puqlic.
My commission expires Oct.
/, 1922.