The Winslow mail., 1921-02-11

/ tracts and agreements necessary or
proper in the premises, and in gem
eral 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 place as the Board OF Directors
may deem to the advantage of the cor
| poration.
/ ARTICLE III.
The capital stock of the company
shall be and is $100 0O00O divided in
10 1000 shares of the par value of
$4,000 each, which shall be paid in
It such time as the Board of Direc-
tors may designate, in cash, real or
personal property, services, leases.
options to purchase, or any other val
liable right or thing for The uses ana
/ purposes of the corporation, and all
shares of capital stock when issued
IN exchange therefor shall thereupon
| nd thereby become and be paid in
III Of same, as if paid for in cash at
par, and shall be nonassessable for
yer; and the judgment Of the Board
3t Directors as to the value Of any
Iroperty, right or thing acquired IL
xchange for capital stock shall be
. onclusive, and no capital stock shall
! = sold for less than its par value
ARTICLE w.
The commencement Of the corpora
ION shall be the first day of F'ebru-
". A. D. 1921, provided certificate
o. incorporation has been issued TO it
en- or before said day by the Arizona
Corporation Commission, and said
corporation shall endure for the full
term of twenty-five years thereafter
With the privilege Of perpetual sue
cossion as provided by statute.
ARTICLE v.
The affairs of the corporation shall
he conducted by Board of Directors
and such officers as the said directors
nay elect or appoint; and the number
a directors shall be not less than
three nor more than seven, and shall
lie elected from among the STOCK
lolders at the annual meeting each
ear, which is to be held ON the third
onday Of January OF each year; and
until said third Monday in january In
p22, and until their SUCCESSORS have
been elected and have qualified, the
following named persons shall be the
Officers and directors, to-wit: VIM. Fl.
Dagg, President, e. Hardin, Secretary
& Treasurer, Burl Vincent and w. j.
Crozier
ARTICLE VI.
The directors shall have the power
to adopt, amend, and rescind bylaws;
to fill vacancies occurring on the
ESoard of Directors for any cause; and
uch other powers and duties as may be
ranted to them by these articles of
Incorporation or by statute.
q * ARTICLE VII.
Fl The highest amount of Indebtedness
or liability to which this corporation
al any one time subject itself is $685.
10000, which is not more than two
thirds of the amount of the capital
s.1rSg.
ARTICLE VIII.
x The private property of the stock
holders Of the corporation shall be
and is forever exempt from it's in
debtedness and obligations; this cor
Tporation does hereby appoint E. Har-
bin of Winslow, Navajo County, Ari-
zona, who has been a bona fide resi-
Gent of Arizona for more than three
years, it's lawful agent in and for the
State Of Arizona, for and in behalf of
he company, to accept and acknow
ledge service of, and upon whom may
he served all necessary process or
processes in any action suit or pro-
tceeding, that may be had or brought
against this company, in any of the
Courts of the said State of Arizona;
such services or process Or notice or
acceptance thereof by said agent en-
dorsed thereon to have the same force
and affect as if served On the presi-
cent and secretary Of said company.
IN WITNESS WHEREOF, we have
aereunto affixed our signatures and
seals this 1st day of December, A. D.
1920
VIM H. DAGG,
E. HARDIN.
BURL VINCENT,
w. J. CROZIER.
State of Arizona; County of Navajo, SIS