The Coconino sun., 1923-10-19

n
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:
David Babbitt, r. G. Babbitt, C. j.
Babbitt, II. G. Babbitt and VIM. Bah
bitt.
(d) 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.
(f) ANY person who shall cease
to be a stockholder shall thereupon
cease to be director of this corpora
tion.
ARTICLE VIII.
(a1 The officers of this corpora
ton shall be 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 (D 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
CT this corporation.
(c) The offices Of secretary and
treasurer of this corporation may be
held by one and the same person, II
so ordered by the board of directors
ARTICLE TX.
The highest amount of Indebtedness
or liability, direct or continent, 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, 3,333.34)
dollars.
ARTICLE x.
The names, residences and post of
flee addresses of the incorporators
are:
David Babbitt, Flagstaff, Arizona.
R. GsBabbitt, Flagstaff, Arizona.
c.. ]. Babbitt, Flagstaff, Arizona.
D-I 4off A
VIM, Babbitt. Flagstaff, Arizona.
ARTICLE XL
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
iects or purposes and powers, which
powers shall be cumulative; and nC
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 DC lawfully CACANACNAl
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 OF
purposes, hereinabove set forth, anc
to that end to do any one or more OF
all of the acts and things aforesaid
and likewise any or all 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 OF
in conjunction with others, in any ane
all parts of the world.
IN WITNESS WHEREOF, we have
hereunto set our hands this 10th day
of August, Nineteen Hundred twenty
three (1923).
DAVID BABBITT,
r. G. BABBITT,
C. J. BABBITT,