The Winslow mail., 1922-01-20

properly, personal or mixed; to bOr-
row money by mortgage or other
charge, TO issue bonds or other evi-
dences of Indebtedness, subject to ac-
t1on of the Corporation Commission
Of the State of Arizona, to sell. dis
pose Of. or cucumber all, or any
part of the property of the company.
subject to the limitations hereinaft-
er prescribed; to make contracts, to
purchase, lease, locate, or other
wise acquire, own, exchange, sell,
pledge, mortgage, hypothecate, and
| deal in any and all kinds of real
estate and personal property; to
own, buy, sell and handle shares of
its own capital stock and that of
other corporations: to make all con-
tracts and agreements necessary or
| proper in the premises; to act as
holding company for stocks or
bonds or other evidences of indebt-
edness of other companies: and, in
general, to do and perform such
acts and things and transact such
business in connection with the
| foregoing objects, not inconsistent
with law, in any part of the world
as the Board of Directors may deem
to the advantage of the corporation
ARTICLE III
The Capital stock of the corpora
ton shall be One Hundred Thous-
and and no-100 ($100,000 000) Dol
| lars, divided into One Thousand
Q,000) shares of the par value of
One Hundred and no-100 ($100.00)
Dollars, each, which shall be paid
in, at such time as the Board of
Directors may designate, in cash,
real or personal property, services,
! lease, option to purchase, or any
| other valuable right or thing, for
poration. and all shares of capital
stock when issued in exchange
therefor, shall thereupon and there
by become and be fully paid the
same as if paid for in cash at par,
aid shall be -assessable forever,
and the Judgment of the Board of
Directors as to the value of any
property, right, or thing acquired in
exchange for capital stock shall be
conclusive.
ARTICLE "
The commencement of the corpor-
alton shall be the date of the issu-
ance to it of a certificate of incor-
poration by the Arizona Corporation
Commission, and it shall endure for
the full term of twenty-five years
thereafter, with privilege of perpet-
ual succession as provided by stat
ute.
ARTICLE V
The affairs of the corporation
shall be conducted by Board of
Directors and such officers as the
said directors may elect or appoint /;
and the number of directors shall
be not less than two or more than
three, and shall be elected from
among the stockholders at the an
nual meeting to be held on the sec
ond Monday in January of each
year, and until the first annual
meeting of the stockholders, and un-
til their successors have been elect
ed and have qualified, the following
named persons shall be the direct
orS, tO-Wit:
w. C. QUEBEDEAUX,
7. M. QUEBEDEAUX,
| KENNETH II. MYERS.
ARTICLE VI
The directors shall have the pow
er to adopt, amend, and rescind by
laws, to fill vacancies occurring in
| the Board for any cause, and to ap-
point from their own number an ex-
| ecutive committee and vest COM
mittee with all powers granted to
the directors by these articles.
ARTICLE VII
The highest amount of indebted
ness or liability to which the cor
poratiOn may at any one time sub
| ject itself is Sixty-six Thousand,
Six Hundred Sixty-six and no-10O
($66, ,666.00) Dollars, which is not
| more than two thirds of the amount
of the capital stock
ARTICLE VIII
The private property of the stock
| holders of the corporation shall be
! forever exempt from its debts and
| ODl1SdtlOnS.
| ARTICLE TX
This corporation does hereby ap-
point w. C. Quebedeaux, of Wins
low, Navajo County, Arizona. who
has been bona fide resident of Ari-
zona for more than three years, its
| lawful agent in and for said State
of Arizona, and in behalf of said
Company, to accept and acknowl-
edge service of, and upon whom
may be served, all necessary pro-
| cess or processes in any action,
| suit. or proceeding that may be had
or brought against the company in
| any of the courts of the said State
of Arizona, such service of process
or notice, or the acceptance thereof
by said agent endorsed thereon, to
have the same force and effect as If