The Coconino sun., 1923-10-26

Page Eight
. successors are elected and qualified
the following named persons shal
compose the board of directors of this
corporation:
F =. Geo. G. Morse, p A. Morse and M
c. Babbitt.
ld9 The board of directors of this
corporation shall have power to fill
amy vacancy or vacancies occurring IN
the beard, and also to fill any va
cancy or vacancies occurring among
, the officers of the corporation.
2 fel Said board Of directors shall
have full power to establish and adopt
bylaws for the government of this
caauoration, and to alter and amend
the same. and to make all rules anc
regulations expedient for the manage
izRent of the affairs OF this corpora
=tion.
I'D 90 Any person who shall cease
Ia be a Etockholder shall thereupon
cease to be director OF this corpora
,r9 ARTICLE VIII.
s4fa) The officers of this corpora
i zion shall be a president, vlce-presl.
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 stpckhold-
ars and such officers shall hold office
: Ter one III year or until their success
sers respectively are elected and
qualified.
ss-..lbl, Until the first annual meeting
Sof the board of directors, the directors
named herein shall elect the officers
Of this corporation.
(cA 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
zor liability, direct or contingent, to
which this corporation shall be subject
at any one time shall be Two hundred
1 thirty-three thousand three hundred
thirty-three and 34-100 (233, ,333.34)
dollars.
ARTICLE x.
The names, residences and post ef-
flee addresses of the incorporators
are:
Geo. C. Morse, Holbrook, Arizona.
P. A. Morse, Holbrook, Arizona.
M. C. 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 statement of both OBJ
jects or purposes and powers, winch
powers shall 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;
s and 1t is hereby expressly declared
that all other lawful powers not in
consistent Herewith are hereby in
seindea; and this corporation shall
have power to carry into effect any
one or more or all of the objects or
purposes herefnabove 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
ob3ects or purposes, to exercise any
=sT all powers aforesaid, and any other
or additional powers now or hereafter
ahthorized by law which natural
person might or could lawfully exer-
else in the premises, either alone or
IN conjunction with others, in any and
saH parts of the world.
: IN WITNESS WHEREOF, we have
hereunto set our hands this goth day
Of August, Nineteen Hundred twenty
? three 1929. -
p. A. MORSE,
M. C.. BABBITT.