The Coconino sun., 1921-06-17

of the business proposed to be trans acted by said corporation, and to ex- ecute, issue, deliver and deal in evi- dences of it's indebtedness of every kind, and to secure the same when ever it may determine by mortgage pledge, hypothecation or other dis position of it's property, real or per sonal. To do all and everything necessary, suitable or proper for the accomplishment of the foregoing purposes, or anything which the Board of Directors of the corporation may, from time to time, deem to be expedient for the protection or ben eft of the corporation, either in the State of Arizona or in any other state or territory of the United Sta tes, or in any foreign country.
 ARTICLE V.
 The authorized amount of the cap ital stock of this corporation shall be four million dollars ($4,0O0, ,000.- 00.) divided into forty thousand (40,- 000) shares of the par value of one hundred dollars ($100.00) each. Such capital stock may be issued at such times as the Board of Directors may by resolution direct, either for real or personal property sold conveyed or transferred to this corporation, or for services or labor rendered to the and the capital stock so issued shall thereupon become and be fully paid up and nonassessable, and in the absence of actual fraud in the transaction the judgment of the Directors as to the value of the purchased and services rem dered shall be conclusive.
 ARTICLE VI.
 The time of the commencement of this corporation shall be the date of the filing of these Articles of Incor- poration Tn the office of the Corpora tion Commission of Arizona, and the thereof shall be twenty i've (25) years thereafter with the privilege of renewal as provided by aw.
 ARTICLE VII.
 The affairs of this corporation shall be conducted by a Board of Di- .ectors composed of five (5) stock holders who shall be elected annual y on the first Tuesday in March of ,ach year, at ten o'clock A. M. of | aid day. Until such first annual el- ,ction in March, A. D., 1922, the fol- owing named stockholders shall erve as directors of this corporation or the present year and until the lection and qualification of their to-wit:
 John E. Barber, John Zalaha, H. {. McClung, w. Ii. Brophy and Henry ,. Mackay, Jr.
 The names of the officers who hall have charge of the corporate fairs until their successors are el- cted and qualified are:
 John k. Barber, President; Henry !. MacKay, Jr., Vice-President; H. J. IcClung, Secretary and Treasurer.
 Two or more offices may be held y the same person.
 ARTICLE VIII.
 The Board of Directors shall have over to adopt and amend bylaws or the government of the corpora on, to create and fill such other of ces as they may deem desirable and x the powers and duties thereof, nd to appoint an executive commit ee and vest said committee With lch powers as they may determine. acancies in the Board of Directors lay be filled by the remaining mem- CT or members of the Board.
 ARTICLE TX. The highest amount of debt or lia- llity, direct or contingent, to which ,is corporation shall be subject at nv time, shall be two million five undred thousand dollars ($2,50O,- DOL and such indebtedness, or any art thereof, may be evidenced by ,nds. debentures, notes, or other ritings of the corporation, secured unsecured.
 ARTICLE X.
 This corporation does hereby ap- pint H. J. McClung of the city of 1, hoenix, State of Arizona, a bona le resident of Arizona for three : ears last past, it's lawful agent in ; rizona upon whom all writs and her documents may be served in ! " action, suit or proceeding that ; ay be brought against said corpor- 5 ion in any court of Arizona with $ e same force and effect as if serv- S upon the President and Secretary V said Company. V
 ARTICLE XI. i The private property of the stock j ,lders and officers of this corpora a ,n shall be exempt from corporate bts of any kind whatever. IN WITNESS WHEREOF, we l we hereunto set our hands and als this 9th day of June, A. D., J 21.
 JOHN E.. BARBER, lSEAL) . JOHN ZALAHA (SEAL) HENRY S. MACKAY, Jr. (SEAL)