The Holbrook news., 1921-02-25

Attest: A. E. STETZER, Secretary Amendments ts Articles of IncOrpOr
 atiOn of the Jennings AutOmO-
 bile Company
 We the undersigned Charles H Jennings, president, and Fritz Goe bel, Secretary of the Jennings Auto
 mobile Company, a corporation, dc hereby certify that on the 23rd day of December, 1920, at the hour oi 10 A. M., a meeting of the stock holders of the said corporation wa: duly held at the office and place of business of said corporation in the City of Holbrook, State of Arizona pursuant to due and regular notice to each of said stockholders.
 That said stockholders meeting was called for the purpose of voting on the question of increasing the capital stock of said corporation and of making a corresponding increase of the amount of indebtedness tc which said corporation shall be al lowed to subject itself.
 That at said meeting the follow ing Resolutions were passed and adopted by unanimous vote by the stockholders of said corporation:
 RESOLVED, that the capital stock of this corporation be in- creased to Four Hundred (4OO) shares of the par value of one Hund- red ($1O0.O0) Dollars each"
 Resolved, that the president and secretary of this corporation be and they are hereby authorized to exc cute and file with the County Re corder of the County of Navajo, State of Arizona, and with the Ariz- ona Corporation Commission, the proper Amendments, to the Articles of Incorporation, showing such in- crease in the capital stock of the corporation and of the indebtedness to which said corporation may sub- ject itself.
 That said proceedings were had and taken under and pursuant to Section 21O2 of the Civil Code of the State of Arizona.
 That pursuant to the said above mentioned Resolutions adopted at said stockholders meeting, we the undersigned Charles H. Jennings, President and Fritz Goebel, Secre- tary of the Jennings Automobile Company, have amended the Articles of Incorporation of the said Jen- nings Automobile Company so that Articles " and VIII of the original Articles of Incorporation shall read as follows:
 Article ".
 The authorized capital stock of this corporation shall be Forty Thousand ($4O,OO0.OO) Dollars, di- vided into Four Hundred shares of the par value of One Hundred ($100OO) Dollars each. At such times as the board of directors may by resolution direct, said capital stock shall be paid into this corpor- ation either in cash Or by the sale and transfer to it of real or person al property, contracts, services, or any other valuable right or thing for the uses and purposes of the said corporation, in payment for which shares of the capital stock of the said corporation may be iss- sued, and the capital stock so iss- ued shall thereupon and thereby be- come and be fully paid up and non assessable, and in the absence of ac- tual fraud in. the transaction, the judgement of the directors as to the value of the property purchased or services rendered shall be conclus- i've.
 Article VIII.
 The highest amount of indebted ness direct or contingent to which this corporation shall be subject at any time shall be $26,666.O0; which amount does not exceed two thirds. of the capital stock of this corporation.
 This is to certify that the fore going copy of Resolutions adopted and passed by the stockholders of the Jennings Automobile Company on the 23rd day of December, 1920, is true and correct; and we do fur ther certify that the undersigned Charles H. Jennings is President and the undersigned Fritz Goebel is Sec retary of said corporation,
 CHAS. H. JENNINGS