The Coconino sun., 1923-08-31

lzed aL, ana the prlnclpaI place OF
its general business shall be at Salt
Lake City, Salt Lake county, state
of Utah Branch places of business,
each complete in itself, or otherwise,
for carrying on the business may be
established, at such other places as
the board of directors may deem ad-
visable.
Article III.
The names of the incorporators
and their places of residence and the
amount of Guarantee Stock sub
scribed for by each, are as follows,
Name Place Of Residence
Par Value No. of Shares
Joseph Daynes, Salt Lake
City, Utah $4,000 10000 shares
Daniel Alexander, Salt Lake
City, Utah. $4,000 10000 shares
Wesley E. King, Salt Lake
City, Utah. $4,000 1000 shares
M. S. Rosenblatt, Salt Lake
City, Utah. $4,000 5000 shares
N. j. Hansen, Salt Lake
City, Utah. $4,000 5000 shares
A. J. Bruneau, Salt Lake
City, Utah. $1,000 $500 shares
R. G. Abbey, Salt Lake
City, Utah. $1,000 $500 shares
j. P. Goddard, Salt Lake
City, Utah $1,000 $500 shares
Lon Fisher, Salt Lake
City, Utah. $4,000 5000 shares
E. Weinstein, Salt Lake
City, Utah. $4,000 5000 shares
M. HI. Horton, Salt Lake
City, Utah $500 $500 shares
John B. Armstrong, Salt Lake
: City, Utah. $500 $500 shares
Samuel w. Stewart, Salt Lake
City, Usah $500 500 shares
Article w.
The term for which said association
is formed is fifty (50) years.
Article V.
Sec. /. The purpose for which said
association is formed and the charac-
ter of its business, shall be:
To provide loan and investment
fund by sale of stocks, bonds, certifi-
Gates and other securities, the same to
be paid for in single payments, or by
installments; to make loans to its
members on. monthly payment plan
of principal and interest; to borrow
and receive money for loan purposes
and handle contracts, stocks, bonds,
and other securities for same To fl
nance the construction of buildings on
real estate owned by the association
or others, and to sell, loan, mortgage,
and otherwise contract with reference
thereto.
Sec. 2. To protect and further its
interests, the association shall be en-
powered to act as agent for all classes
of insurance, liability, surety, loan and
other financial corporations; to do
each, all and everything that may be
necessary or essential in and about
the carrying out of the objects afore-
said, and all other purposes and OBJ
jects permissible under the laws OF
the state of Utah, now in force OF
which may be hereinafter enacted.
Article vi.
The authorized capital stock of this
association shall be one million ISL
900, ,0OO00) dollars, divided into two
classes of stock, one hundred thousand
(1O0,000) shares of Guarantee Stock
of the par value of one ($1.00) dollar
per share, payable by the subscriber
DIS 1Q1iOMS, GO-W1ks 1IHC NO(J CCAAto P0A
share on subscription and the balance
on call of the board of directors, which
said call shall not at any one time
exceed two (2c) per share; nor can q
call be made under ninety (90) day
periods.
When such payments and accumu-
lated earnings thereon equal one
($1.00) dollar per share, said stock
shall stand as permanent stock
which shall be held to protect the as
sociation, and guarantee all stocks
bonds, securities and creditors
against loss; nine thousand 10000
shares of investors Guaranteed Div
| idend Stock of the matured value OF
one hundred ($100.00) dollars pei
share, payable by the subscriber IN
one installment, or on as suitable in
stallment plans as the directors 81
the association may by resolution en-
act. The Investors Guaranteed Div.
idend Stock may be withdrawn by the
owner thereof, at any time after thir-
ty-six 1863 months after purchase
! thereof, provided, however, that al
payments then due shall have beer
regularly paid thereon notice to the
company of intention to withdraw. The
entire book value of said stock shall
be paid the legal holder of said stocl
/ from the Guarante fund in the way
and manner as provided by law.
Article VII.
The management of the affairs Of
| the association shall be vested in s
board Of directors, which shall con
sist of seven "a persons, divided int
three classes. Directors of the frs
class shall be three (3) in number
and shall be elected for term of one
/ IL year. Directors of the secono
class shall be two (2) in number ane
/ shall be elected for term of two e.
| years. And directors of the thirt
class shall be two (2) in number anC
elected for term of three (3) years
| so that the term of office of one class
shall expire in each year, and shall bt
| elected at the regular annual stock
holders meeting, provided, that at tht
1 first regular stockholders meeting
| there shall be elected total Of sever
/ ~ directors to serve for the respec
tive terms. and provided further thai
all directors<shall serve until theil
successors are elected and qualified
/ No person shall be eligible to the of
flee of director of this association WHIT
is not the owner of at least five hun
/ drad (E0nA choyar of cfocLr ras ShoxyY