The Holbrook news., 1922-03-17

Pt tOAliooCiy HotSGs Diiic OI SA chanee, stocks, bonds, city. school, county. and state war rants; it may make. issue or &C., cept promissOry notes. bills of exchange. bords. debentures and any and all other forms of security and evidences of indebt- edness without limit as to time. and to secure the same by mort gage, pledge or otherwise. To buy, sell, own. hold. hyro- thscate and in any way deal in the stocks. bonds, debentures or other evidences of indebtedness of all pubic or private corpora tions; to acquire. buy, lease. erect and construct all necessary buildings and structures of any kind deemed by the Board of l Directors of the said corporation necessary for the conduct of its business.
 To act as agent, trustee, brok- CT, executor or administrator, guardian or in any other fduci. ary capacity, and in general to do and perform such acts and things and transact such busi- ness as the Board of Directors may deem to the advantage of the said corporation. Article Number III. The authorized Capital Stock of this corporation shall be Two Hundred Thousand Dollars ($200, GOO. 00), divided into Two Thousand (2,000) shares of the par value of One Hundred l$1OO.- O0) each. At such t:me as the Board of Directors may by re- solution direct. such capital stock shall be paid into this cor poration. either in cash or by the sale transfer toit of real or per sonal property or services or any other valuable right or thing, for the uses or purposes of the cor D0ration. in payment for which. shares of the capital stock of the said corporation nay be is- sued.
 Article Number W.
 The time of the commence ment of this corporation shall be the date upon which certified copy of these articles of incor- poration, from the Arizona Cor poration Commission, shall be recorded in the offer of the County Recorder of Navajo County. Arizona. and the termi- nation thereof shall be Twenty Five years thereafter, with the right of renewal as provided by law.
 Article Number V. The affairs of this corporation shall be conducted by Board of Directors consisting of not less than three nor more than seven members, who shal! be Alected from the stockholders of record, at the regular annual meeting of the stockholders, which meeting shall be held on the first Mon day in February in each calendar year, and said Directors shall hold office for one year. and un- | til their successors are elected 1 and qualified.
 Until the first annual meeting of the stockholders of thls cor poration. the following named persons shall constitute the Board of Directors of this cor poration: Julius Wetzler, Fred Wetzler and Thorwald Larson. Until the officers of this cor poratien shall be elected by the Board of Directors, the following shall be the officers of this cor poration: Julius Wetzler, Presi- dent. Thorwald Larson. Vice President. Fred Wetzler, Secre- tary and Treasurer.
 Article Number VI.
 The highest amount of lndebt- edness direct or contingent to which this corporation shall be subject at any one time shall be One Hundred Thirty Thousand Dollars ($130, ,O00.00).
 Article Number VII
 The private property of the incorporators and stockholders of this corporation is hereby made exempt from any and all liability for the corporate debts and liabilities of this corpora tiop. Loans to any officer or director of this corporation are hereby prohibited. 6 &
 In Witness Whereof, we have hereunto set our hands and seals, this 14th day of January, A. D. 1922.
 Julius Wetzler
 Fred WetzIer
 Thorwald Larson State of Arizona,
 County of Navajo ] ss.
 Before me. w. B. Woods, Notary Public in and for said State and County, personally ap- peared Julius Wetzler, Fred Wetzler and Thorwald Larson, knoun to mo to ha tbo norsonc