The Coconino sun., 1923-11-02

| five years thereafter, unless it be re-
newed in the manner provided by law.
ARTICLE VII.
| (a) The affairs of this corporation
shall be conducted, governed and con-
| troIed by a board OF five (51 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 2:25
o'clock in the afternoon, and all di-
rectors shall serve until their success
sors respectively are elected and
qualified.
(c) 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:
r. &. Daggs, G. H. Spellmire, G.
J. Babbitt, H. G. Babbitt and A. Bel
mont.
| Cd The board of directors of this
corporation shall have power to fill
| any vacancy or vacancies occurring in
the board, and also to fill any va
cancy or vacancies occurring among
| the officers Of the corporation.
lei 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, apd to make all rules and
regulations expedient for the manage
ment of the affairs Of this corpora
ton.
(f) 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 shah hold office
for one ~ year or until their success
sors respectively are elected and
4 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, il
so ordered by the board of directors
ARTICLE TX.
, The highest amount of Indebtedness
or liability, direct or contingent, &c
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 (S186,666.66)
ARTICLE x.
The names, residences and post of
flee addresses of the incorporation;
are:
r. E. Daggs, Williams, Arizona.
G. H. Spellmire, Williams, Arizona
C. J. Babbitt, Flagstaff, Arizona.
ARTICLE XI.
The private property of the stock
holders of this corporation shall b.
i exempt at all times and in any even
: from any and all liability for its cor
porate debts of any kind whatsoever
ARTICLE XII.
The clauses hereinabove set fortl
] in Article III hereof shall be con
strued as a statement of both OBJ
iects or purposes and powers, whicl
: powers shall be cumulative; and n
recitation, expression or declaratol
herein Of any specified object or pur
pose or special power shall be deeTne'
) to be exclusive Of any one or more 0
the others, or of any other powe
; which may be lawfully exercised
and it is hereby expressly deelare
!, that all other lawful powers not in
: consistent Herewith are hereby IN
! | cluded; and this corporation shal
have power to carry into effect an.
!, one or more or all of the objects o
i purposes, hereinabove set forth, an
!. to that end to do any one or more 0
! all of the acts and things aforesaid
! and likewise any or all such other act
! and things necessary or lncldents
. 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 sal
!, | objects or purposes, to exercise an.
or all powers aforesaid and aVa7 othe
/ or additional powers now or hereafte
authorized by law which a natura
person might or could lawfully exer
I else in the premises, either alone Q
in conjunction with others, in any an
all parts of the world.
J, IN WITNESS WHEREOF, we hav
! hereunto set our hands this goth da
7 of August, Nineteen Hundred twenty
2 three 1929.
R. E. DAGGS,
G. H. SPELLMIRE,
y C. ]. BABBITT.
I State of Arizona,
: County of Coconino, SIS.
z The foregoing instrument wa