The Coconino sun., 1923-09-28
Page Twelve

,'clock in the afternoon, and all di
'ectorS shall serve Until their success
sors respectively are elected and
Iualified.
t(c) Until the first annual meet
ng Of stockholders, and until their
successors are elected ana quallIlsu,
;he following named persons shall
compose the board of directors of this
corporation:
David Rabbit, r. G. Babbitt, c. J.
3abbitts H G. Babbitt and VIM. Bah
1itt.
(d) The board Of directors of this
corporation shall have power to fill
any vacancy or vacancies occurring in
he board, and also to fill any va
.ancy or vacancies occurring among
he officers of the corporation.
e(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
o be a stockholder shall thereupon
cease to be a director of this corpora
ion.
- ARTICLE VIII.
(a1- The officers of this corpora
ton shall be a president viceIpfesi-
dent, secretary and treasurer, and
they shall be elected respectively by
the board of directors from among
he stockholders Immediately after
he annual meeting of the stoclzhold-
srs, and such officers shall hold office
FOR one (1) 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
of this corporation.
(cJ 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 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, ,333.341
dollars. = - =
ARTICLE xas.
The names, residences and post Of
flee addresses of the ineerporators
are:
David Babbitt, Flagstaff, Arizona.
f. G. Babbitt, Flagstaff, Arizona.
C, J. Babbitt, Flagstaff Arizona.
H. G. Babbitt, Flagstaff, Arizona.
VIM. 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. G
The clauses shereinabove set forth
in Article III hereof shall be con-
strued asa statement of both OBJ
jects or purposes and powers, which
powers shall be. cumulative; and: no
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
yae Others or of any other power
which may be lawfully exercised;
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 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 AL such other acts
and things necessary or incidental
thereto as such corporation may law
fully do; and in conducting and carry
ing on It's business, and Tor 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 natural
person might or could lawfully exer-
else 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 10th day
Of August, Nineteen Hundred twenty
DAVID BABBITT,