The Coconino sun., 1923-11-09

respective county recorders of the
following counties in the State of
Arizona: Coconino, Navajo, Apache
and Maricopa, and it shall terminate
twenty-five years thereafter, unless it
be renewed in the manner provided by
law.
ARTICLE VII.
! (a) The affairs of this corporation
shall be conducted, governed and con-
/ trolled by a board Of three (3) direc-
/ tors, which number of directors may
| be either increased or reduced by res
olution of the board of directors.
/ (b) Said board of directors shall
be elected at the annual meeting of
stockholders of this corporation which
shall be held on the fifteenth (15th)
day of February in each year at 1:15
o'clock in the afternoon, and all di
rectors shall serve until their success
sors respectively are elected and
qualified.
(c1 Until the first annual meet
ing of stockholders. and until their
successors are elected and qualified,
| the following named persons shall
compose the board Of directors of this
corporation:
Geo. G. Morse, P. A. Morse and M.
! G. Babbitt.
i'd The board of directors of this
corporation shall have power to fill
any vacancy or vacancies occurring in
1 the board, 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.
| ~ Any person who shall cease
to be a stockholder shall thereupon
cease to be 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 1) year or until their success
sors respectively are elected and
/ qualified.
Ob) 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 TX.
| The highest amount of Indebtedness
or liability, direct or contingent, to
which this corporation shall be subject
| at any one time shall be Two hundred
| thirty-three thousand three hundred
thirty-three and 34-100 (233,333.34)
dollars.
ARTICLE X.
| The names, residences and post Of
flee addresses of the incorporators
are:
Geo. C. Morse, Holbrook, Arizona.
| P. A. Morse, Holbrook, Arizona.
| NJ. C. Babbitt, Flagstaff, Arizona.
ARTICLE 4XI.
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
1 jects or purposes and powers, which
! powers shall be cumulative; and no
/ recitation, expressions or declaration
herein of any specified object or pur-
/ pose or special power shall be deemed
to be exclusive of any one or more CT
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 or more or all of the objects or
purposes hereinabove set forth, and
/ to that end to do any one or more or
| all of the acts and things aforesaid,
and likewise any or al, such other acts
and things necessary or incidental
| thereto as such corporation may law
fully do; and in conducting and carry
ing on its business, and for the pur-
pose of attaining, promoting or fur
| thering any one or more of its said
objects or purposes, to exercise any
| or all powers aforesaid, and any other
or additional powers now or hereafter
| authorized by law which a natural
person might or could lawfully exer-
| else in the premises, either alone or
in conjunction with others, in any and
| all parts of the world.
| IN WITNESS WHEREOF, we have
| hereunto set our hands this Goth day
Of August, Nineteen Hundred twenty
| three 1929.
/ GEO. C. MORSE,
| P. A. MORSE,
M. C. BABBITT.
l State of Arizona