The Coconino sun., 1923-11-02

FhiDA1, NOV EAIBER 2, 1928.
successors are elected and qualified
the following named persons shall
+ compose the board of directors of thi!
corporation:
Geo. g. Morse, P. A. Morse and M
c. Babbitt.
ID 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.
(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
tion.
co ANY person who shall cease
to be stockholdef shall thereupon
cease to be director Of this corpora
tion.
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.
(c1 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, .341
dollars.
ARTICLE x.
The names, residences and post of
flee addresses of the incorporators
are:
~ Z
P. A. Morse, Holbrook, Arizona.
N. 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 herein above set forth |
in Article III hereof shall be con-
stTued as a statement of both OBJ |
jects or purposes and powers, which I
powers shall be cumulative; and no I
recitation, expression or declaration T
herein OF any specified object or pur-
pose or special power shall be deemed I
to be exclusive Of any one or more of
the others, or of any other power /
which may be lawfully exercised: I:
and 1t IS hereby expressly declared
that all other lawful powers not in
consistent herewith are hereby IN +
eluded; 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
theriRg 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-
cise IN the premises, either alone or
n conjunction with others, in any and
al parts Of the world
IN WITNESS WHEREOF, we have
lerennto set our hands this goth day
IF August, Nineteen Hundred twenty
.hree 1929.
GEO. c. MORSE,
P. A. MORSE,