The Coconino sun., 1923-09-28

day of February in each year at 9:15
o'clock in the forenoon, and all direc-
tors shall serve until their successors
respectively are elected and qualified,
(c) Until the first annual meeting
of the stockholders, and until their
successors are elected and qualified,
the following named persons shall
compose the board of directors of this
poration: ]. P. Kerley, David Bab-
bitt, r. G. Babbitt, G. j. Babbitt and
VIM. Babbitt.
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 vacancy
or vacancies occurring among the of
ficers 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 corporation.
(f) Any person who shall cease to
be a stockholder shall thereupon cease
to be director Of this corporation.
ARTICLE VIII.
(a) The officers of this corporation
shall be president, president,
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 stockholders,
and such officers shall hold office for
one "a year or until their successors
respectively are elected and qualified.
f(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 TX.
The highest amount of Indebtedness
or liability, direct or contingent, to
which this corporation shall be subject
at any one time shall be Thirty three
thousand three hundred thirty-three
and 34-100 (33 3,333.34) dollars.
ARTICLE x.
The names, residences and post Of
flee addresses of the incorporators
are:
J. P. Kerley, Tuba City, Arizona.
r. G. Babbitt, Flagstaff, Arizona.
G.. ]. Babbitt, Flagstaff, Arizona.
VIM. 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 construed
as a statement of both objects or pur-
poses and powers, which powers shall
be cumulative; and no recitation, ex-
preston or declaration herein of any
specified object or purpose 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 i is hereby
expressly declared that all other law
full powers not inconsistent herewith
are hereby included; and this corpora
ton 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 all such
other acts and things necessary or in
cidental thereto as such corporation
may lawfully do; and in conducting
and carrying on its business, and for
the purpose of attaining, promoting
or furthering any one or more of It's
said objects or purposes, to exercise
any and all powers aforesaid, and any
other or additional powers now or
hereafter authorized by law which a
natural person might on. could lawful
~ exercise 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 (1923).
J. p. KERLEY,