The Winslow mail., 1924-10-10


corporation;
To loan the capital stock of the
corporation, or any part thereof, to
any person, firm. or corporation, and
to take as security therefor lands and
chattels of every kind and descrip
ton. and real and chattei mortgages;
To borrow money or other thing
of value upon it's capital stock, notes,
bonds, mortgages or other evidences
of indebtedness and to secure same by
the pledge, mortgage or hypOthecation
of its property
To do each and every thing neces-
sary, or proper, for the accomplish
ment of any of the purposes, or the
attainment of any one or more of the
objects herein enumerated, or which
shall, at any time, appear conductive
or expedient for the protection or
benefit of this corporation.
ARTICLE Ill
The capital stock of this corporation
is FIFTY THOUSAND DOLLARS,
divided into TEN THOUSA AND
SHARES of stock of the par value of
FIVE DOLLARS each. which shall be
paid in, in such manner and at such
times as the Board Of Directors may
designate, in cash, real or personal
property, contracts, or any other valu-
able right or thing for the uses and
purposes of the corporation, and all
shares of capital stock, when in ex-
change therefor, shall thereupon and
thereby be and become fully paid for,
the same as though paid for in cash
at par. and shall be forever non-as-
sessabIe; and the judgment of the
Board of Directors as to the value Of
any property, right or thing, acquired
in exchange for capital stock, shall
be conclusive.
ARTICLE ".
The time of the commencement of
this corporation shall be the date of
the filing of these Articles of Incor-
poration in the office of the Arizona
Corporation Commission and the re-
cording a certified copy thereof in the
office of the County Recorder of Nav
ajo County, Arizona, and the termina-
ton thereof shall be twenty-five years
thereafter, with the privilege or re-
newal, as provided by law.
ARTICLE V.
The affairs of this corporation shall
be conducted by a Board, of, not less
than three nor more than five, direc-
tors, and such officers as they may
elect or appoint. Such Directors shall
be elected from among the stockhold-
ers at the annual meeting of such
stockholders, to be held at the princi
pal office of the Corporation in the
Town of Winslow, Navajo County,
A Al, i, 1.,I Of
airy, in each year.
Until the first annual meeting of
the stockholders and until their sue
icessors have been elected and quail
fed, the following persons shall be the
officers and directors
Chas. Calm president and treasurer,
residing at Winslow, Navajo County,
Arizona; Fred w Nelson, yice-presi-
dent, residing at Holbrook, Navajo
County, Arizona; VIM. Nagle, secre-
tary, residing at Winslow, Navajo
County, Arizona.
The officers shall be elected from
among the Board of Directors and
shall be, President a Vice President,
a Secretary and a Treasurer, and the
office of Treasurer may be combined
WIFI ludI VI dIly OCnGI udIuGlt.
ARTICLE VI
The Board of Directors shall have
the power to adopt and amend By
Laws for the government of the cor
poration, to fill vacancies occurring in
the Board from any cause, and to ap
point or elect officers of the corpor-
alton including an executive commit
tee with such powers as the Board
may determine, and not inconsistent
with the law and Bylaws of the
company.
ARTICLE VII
The highest amount of Indebtedness
to which the corporation shall at any
time subject itself, shall not exceed in
amount THIRTY THOUSAND Doll
LARS, and less than two-thirds of its
capital stock.
ARTICLE VIII.
The private property of the stock
- o . . Q = Q . y