The Coconino sun., 1923-11-09
FRIDAY, NOVEMBER 9, 1928.

compose The board OF directors Of this
corporation.
r. Z. Daggs, 6. H. Spellmire, c.
J, Babbitt, Il. G. Babbitt and A. Bel
mont.
(d) The board Of directors Of this
corporation shall have power to fill
any vacancy OF vacancies occurring in
the beard, and also to fill any va
cancy or vacancies occurring among
the officers of the corporation.
(e) Said board of directors shall
have full power to establish and adopt
bylaws for the government of this
corporation, and to alter and amend
the same, and to make all rules and
regulations expedient for the manage
ment of the affairs of this corpora
ton.
20 Any person who shall cease
to be a stockholder shall thereupon
cease to be a director of this corpora
ton.
ARTICLE VIII.
(a) The officers of this corpora
ton shall be a president, vice-presi-
dent, secretary and treasurer, and
they shall be elected respectively by
the board of directors from among
the stockholders Immediately after
the annual meeting of the stockhold-
ers, and such officers shall hold office
for one % year or until their success
sors respectively are elected and
qualified.
(b) Until the first annual meeting
Of the board Of directors, the directors
named herein shall elect the officers
of this corporation.
(c) The offices of secretary and
treasurer OF this corporation may be
held by one and the same person, if
so ordered by the board of directors.
ARTICLE X.
The highest amount of indebtedness
or liability, direct or contingent, to
which this corporation shall be subject
at any one time shall be One Hundred
Sixty-six Thousand, Six Hundred, Six
ty-Six 66-100 Dollars ($166, ,666.66)
ARTICLE X.
The names, residences and post Of
flee addresses of the incorporators
are:
r. E. Daggs, Williams, Arizona.
G. IT. Spellmire, Williams, Arizona.
C. J. Babbitt, Flagstaff, Arizona.
ARTICLE XI.
The private property of the stock
holders Of this corporation shall be
exempt at all times and in any event
from any and all liability for its cor
porate debts of any kind whatsoever.
ARTICLE XII.
The clauses hereinabove set forth
in Article III hereof shall be con-
strued as a statement of both OBJ
jects or purposes and powers, which
powers shah be cumulative; and no
recitation, expression or declaration
herein Of any specified object or pur-
pose or special power shall be deemed
to be exclusive of any one or more Of
the others, or Of any other power
which may be lawfully exercised;
and it is hereby expressly declared
that all other lawful powers not in
consistent herewith are hereby in
cluded; and this corporation shall
have power to carry into effect any
one eli more or all of the objects or
purposes, hereinabove set forth, and
q tnat end 70 do any one or more or
All Of the act and things aforesaid,
and likewise any or all such other acts
and things necessary or incidental
thereto as such corporation may law
fully do; and In conducting and carry
ing on Is business, and for the pur-
pose Of attaining, promoting or fur
Eelimg any one or more of its said
obieets o. purposes, to exercise any
or all powers aforesaid and aag othe.
or additional powers now or hereafter
authorized by law which natural
person might or could lawfully exer-
else in the premises, either alone or
ali parts Of the world
IN WITNESS WHEREOF, we have
of August, Nineteen Hundred twenty
three 1929.
R. E. DAGGS,
G. H. SPELLMIRE,
c. j. BABBITT.