The Coconino sun., 1923-11-23

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-
trolled by board Of five (5) direc-
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. E. Daggs, G. H. Spellmire, C.
J. Babbitt, H. G. Babbitt and A. Bel
mont.
(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.
(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 Cd year or until their success
sors respectively are elected and
qualified.
(b) Until the first annual meeting
of the board of directors, the directors
I 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.
i ARTICLE *.
J The highest amount of indebtedness
or liability, direct or contingent, to
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 s($166, ,666.66)
ARTICLE X.
The names, residences and post of
; flee addresses of the incorporators
: are:
: r. e. Daggs, Williams, Arizona.
G. H. Spellmire, Williams, Arizona.
C. J. Babbitt, Flagstaff, Arizona.
ARTICLE XII
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 Kill
} The clauses hereinabove set forth
in Article III hereof shall be con-
strued as a statement OF both OBJ
jects or purposes and powers, which
; powers shall be cumulative; and no
, recitation, expression or declaration
7 herein Of any specified object or pur-
pose or special power shall be deemed
5 to be exclusive Of any one or more OF
!, the others, or of any other power
r which may be lawfully exercised;
: and it is hereby expressly declared
$ that all other lawful powers not in
5 consistent Herewith are hereby in
: cluded; ana this corporation shall
have power to carry into effect any
5 one or more or all of the objects or
| purposes, hereinabove set forth, and
: to that end to do any one or more OF
2 all of the acts and things aforesaid,
S 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
J, thering any one or more of its said
Y objects or purposes, to exercise any
: or all powers aforesaid and an! othe.
D or additional powers now or hereafter
authorized by law which natural
r person might or could lawfully exer-
else in the premises, either alone OF
S in conjunction with others, IN any and
!, all parts of the world.
: IN WITNESS WHEREOF, we have
r hereunto set our hands this goth day
e of August, Nineteen Hundred twenty
three 1929.
r. E. DAGGS,
i G. H. SPELLMIRE,
E C. J. BABBITT.