The Winslow mail., 1923-06-22
dollars (s1oo, ,oOO.oo), divided into one

value of one dollar each, which shall
be paid in, at such time as the board
of directors may designate, in cash,
real or personal property, services,
leases, timber rights, option to pur-
chase, or any other valuable right or
thing, for the uses and purpose of
the corporation, and all shares of the
capital stock when issued in exchan-
ge therefor, shall thereupon and
thereby become and be fully paid
the same as if paid for in cash at
par, and shall be worcestershire
forever, and the judgment of the
Board of Directors as to value of
any property, right, or thing asquir
ed in exchange for capital stock shall
be conclusive in the absence of any
actual fraud in the transaction.
ARTICLE w
The commencement of the corpor-
alton shall be the date of the is
suance to it of a certificate of incor-
poration by the Arizona Corporation
Commission, and it shall endure for
the full term of twenty five years
thereafter, with privilege of perpe-
tual succession as provided by
statute.
ARTICLE
The affairs of the Corporation shall
be conducted by board Of Directors
and such officers as the said direc-
tors may elect or appoint; and the
number of directors shall be not less
than two or more than three, and
shall be elected from among the
stockholders at the annual meeting
to be held on the second Monday in
January of each year, and until the
first annual meeting Of the stock
holders, and until their successors
have elected and have qualified, the
following named persons shall be
the directors towit;
R. G. BAZELL,
G. G. HALL,
T. NJ. QUEBEDEAUX.
ARTICLE vi
The directors shall have the power
to adopt, amend, and resind bylaws,
to fill vacancies occurring in the
board for any cause, and to appoint
from their own number an executive
committee and vest committee with
all the powers granted to the direct
ors by these articles.
ARTICLE VII
The highest amount of indebted
ness or liability to which the corpo-
ration may at any time subject it
self is sixty six thousand, six hun
dred sixty six and 10000 ($66, 6,66600)
Dollars, which is not more than two
thirds of the amount Of the capital
stock.
ARTICLE VIII
The private property Of the stock
holders of the corporation shall be
forever exempt from it's debts and
obligations.
ARTICLE TX
This corporation does hereby ap
point r. G. Bazell, of Winslow, Ma
vajo County, Arizona, who has been
a bona fide' resident of Arizona for
more than three years, it's lawful
agent in and for the State of Arizona
and in behalf Of said company, to
accept and acknowledge service of,
and upon whom may be served, all
necessary process or processes in
any action, suit or proceeding that
may be had or brought against the
company in any of the courts Of the
said State of Arizona, such service
of process or notice, or the accept
ance thereof, by said agent endorsed
thereon, to have the same force and
effect as if served upon the President
and Secretary of said company.
In Witness whereof, we have here
unto affixed our signatures and seals
this 1st day of April, A. D. 1928.
RIG. Bazell,
G. G. Hall,
T. M Quebedeaux.
State of Arizona
County of Navajo }
Before me Charles F. Dare not
ary public in and for the county and
state aforesaid, on this day person
ally appeared R. G. Bazell, G. c.
Hall and T. M. Quebedeaux, known
a - D1anS and SDeC