Arizona state miner., 1926-03-06

money, property or services, at a val
! uation fixed by the Board of Dir
ectors, which shall be conclusive.
Article "
The general nature of the business
to be transacted by this corporation
is to maintain and carry on a gen
eral merchandising business and
hardware and implement; to own,
hold, buy sell. lease, exchange anC
otherwise deal in property of eveTy
kind and character necessary or de-
sirable in connection with the bust
ness Of a general hardware and ira
plement store and to manufacture.
buy, sell, and deal in all manner OF
hardware and Implements; to buy,
sell, mortgage, lease, exchange and
/ otherwise acquire, dispose of ard
deal in real estate and personal prop
erty Of every nature and kind and
to accept the same in payment OF
debts; to purchase, own, control, sell
and otherwise deal with it's own cap
/
other corporations foreign or domes-
tic, and have the same rights Of
ownership therein as permitted to
natural persons; to issue bonds,
notes or other evidences of indeht- !
edness and to secure the payment of
the same by mortgage, pledge or
| otherwise; to act as agent; trustee,
| broker, or any other fiduciary capac-
! ity; to borrow and loan money; to
do and perform sucn acts and things
and transact such business not in
consistent with the law and the oh
jects hereinbefore specified; and =
do and perform all the acts and
| things and transact all the business
hereinbefore specified in all the
States and territories Of the United |
States and in any part Of the World
Article vi.
The time for the commencement
of this corporation shall be the date
of the issuance to it by the Arizona
Corporation Commission Of certi-
ficate of incorporation, and the ter
mination thereof shall be twenty-five |
years thereafter, with the privileges
Of renewal as provided by law.
Article VII.
The affairs of this corporation |
| shall be conducted by Board cf |
Directors consisting Of three mem
| bers; but the number Of directors !
may be increased to five or more
directors in such way or manner as |
| the bylaws of the corporation may |
provide, and such other subordinate
officers and agents as they may ap-
point or elect and the following |
named persons shall constitute the |
Board of Directors until their success !
sOrs are elected and have qualified |
to-wit: L. H. North, A. O. North |
Board of Directors shall be elected |
annually by the stockholders from |
among their number at the annual |
! meeting of the stockholders to be /
held ON the first Tuesday in March. |
in each year, and shall hold Office |
| until their successors are elected and |
have qualified. The Board of Dir
etors shall have the power to fill |
any vacancy occurring in the Board |
| from any cause for the unexpired |
term at any regular meeting.
Article viii.
The officers of this corporation |
| shall be President, Vice-President, |
Secretary and Treasurer, who shall !
be elected by the Board of Directors |
| Immediately after each annual meet
| ing of the stockholders of the cor
poration and shall hold Office for one
year and until their successors are
elected and qualified. The offices of |
| Secretary and Treasurer may be held |
by the same person. In the event |
of a vacancy in any office, the Board |
of Directors may fill the same, and
| the persons so selected shall serve
during the unexpired term of his
! predecessor or until his successor
is elected and qualified. Until the
first annual meeting of the stock
I holders and until their successors
have been duly elected and qualified,
! except in cases of vacancy created
the following named persons shall be
the officers of this corporation: L.
! H. North, President, A. O. North,
Vice-President, and E. R. North,
Secretary Treasurer. and General
Manager.
| Article TX.
The highest amount of indebted
ness or liability direct or contin-
gent, to which this corporation shall
! be subject at any one time, shall be
| Thirteen Thousand, Three Hundred
Thirty Three ($13,333OO) Dollars