The Winslow mail., 1925-07-07

directors held at such places with
IN or outside Of Arizona as the by
laws Of the company shall provide.
Article 2. The general nature OF
the business proposed ITO be trans
acted is to make contracts; to pur-
chase, lease, option, locate, or 9TH
erwise acquire, own, exchange, sell
or otherwise dispose OF, pledge,
mortgage, hypothecate and deal in
real estate and to do a general
garage business, buy and sell auto
mobiles, trucks and auto acces-
sories, tires, ETC., operate a machine
shop and do a general repair
business; to deal in automobile
paper and in general to handle
sales contracts; to do az general
manufacturing and mercantile
business; to own, handle and con
troll letters patent and inventions !;
to own, cancel and reissue shares
of it's own capital stock and to own
and vote shares of other corpora
tions; to issue bonds, notes and
other evidences of Indebtedness,
and to secure the payment Of the
same by mortgage, deed of trust,
or otherwise; to act as agent,
trustee or broker, and to borrow
and loan money; and in general to
do and perform such acts and
things and transact such business,
not inconsistent with law, in any
part of the world, as the board OF
directors may deem to the advan-
tage Of the corporation.
Article 3. The amount of the au-
thorized capital stock of the cor
poration is Thirty Thousand dol
lars, divided into Three Hundred
shares of the par value of $4,000
each, which shall be paid in, at such
time as the board of directors may
designate, in cash, real or personal
property, services, lease, option to
purchase, or any other valuable
right or thing, for the uses and
purposes of the corporation, and
all shares of capital stock, when
issued in exchange therefor, shall
thereupon and thereby become and
be full-paid the same as though
paid for in cash at par, and shall
be non -assessabIe forever, and the
Judgment of the directors as to the
value Of any property, right or
thing acquired in exchange for
capital stock shall be conclusive.
Article 4. The time of the COM
mencement of the corporation shall
be the day these articles are filed
in accordance with law, and the
termination thereof shall be twen
ty-five years thereafter, with privi-
lege of renewal and right of per-
petual succession as now provided
by law.
Article 5. The affairs of this cor
poration shall be conducted by a
board of not less than three nor
more than fifteen directors, by
whom a president and vice presi-
dent shall be elected and secre-
tary and treasurer appointed. The
directors shall be elected by the
stockholders on the first Monday
in January of each year! Until
IuSII SuCCGSoOlO al C1CCIOO bhN
qualified, the following named per-
sons shall be the directors and or
ficers as stated: R. G. BaZell, G..
c. Bazell, and r. G. Rhoades, all Of
Winslow, Navajo County, Arizona.
Article 6. The directors shall
adopt bylaws for the government
of the corporation and may amend
the same. They shall have power
to fill vacancies occurring in the
board from any cause, and to ap-
point from among their number an
executive committee, which to the
extent provided by resolution or by
the said bylaws, shall have and
exercise the powers granted the
directors by these articles.
Article T. The highest amount
of Indebtedness or liability to
which the corporation is at any
time to subject itself is Twenty
Thousand dollars.
Article 8. The private property
of the stockholders of the corpora
ton shall be forever exempt from
corporate debts Of any kind what
soever.