The border vidette., 1928-04-07

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manner guaranteed by the company,
or in which the company is in any way
interested; and to do any other acts or
things for the preservation. protection,
Improvement or enhancement of the
value of any such stock, bonds Or,
other obligations, or to do any acts OF
things designed for any such purpose;
and while owner of any such stock,
bonds or other obligations to exercise
all the rights, powers and privileges OF
ownership thereof, and to exercise any
and all voting powers thereon; to guar
antee the payment of dividends upon
any stock, or the principal or interest
or both OF any bonds or other obliga-
tons, and the performance of any con.
tracts.
The business or purpose OF the COM
pany is from time to time to do any
one or more of the acts and things
herein8bove set forth, and it shall have
power to conduct and carry on its said
business, or any part thereof, and to
have one or more offices, and to exer-
else all or any OF its corporate powers
and rig hts, in the State OF Arizona,
and in the various other states, terri
tories, colonies, and dependencies of
the United States, in the District OF
Columbia, and In all or any foreign
countries.
The foregoing clauses shall be con-
strued both as objects and powers; and
it is hereby expressly provided that the
foregoing enumeration of specific pow
ers shall not be held to limit or restrict
in any manner the powers of this cor
poration.
ARTICLE III
The capital stock of the corporation
shall be One Hundred Thousand Dol
lars ($1OO 0O0 0O) divided into One Hun
dred Thousand shares OF the par value
Of One Dollar Isl .00) 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 purposesof 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 -assessable for
ever, and the Judgment Of the directors
as to the value of any property, right
or thing acquired in exchange for capi-
tai stock shall be conclusive.
ARTICLE Nv
The commencement OF the corpora
tion shall be the date of issuance to it;
OF certificate of incorporation by the
Arizona Corporation Commission. and
it shall endure for the full term of
twenty-five years thereafter, with pri-
vilege of perpetual succession as pro-
vided by statute.
ARTICLEv
The affairs OF the corporation shall
be conducted by Board of Directors
and such officers ls the said directors
may elect or appoint. The number of
directors shall be designated by the
bylaws and shall be elected from
among the stock holders at their an
nual meeting to be held on the second
Monday in January OF each year. Un-
til the first annual meeting of the
stock holders and until their successors
have been elected and have qualified,
the following named persons shall be
the officers and directors:
Directors: Harry s.. Caward, Ross
Il. Quinby. Stewart L. Crebs.
Officers: President, Harry s.. Ca
ward; Vice President, Ross Fl. Quin-
by; Secretary & Treasurer. Stewart L.
Crebs.
ARTICLE vi
The directors shall have power to
adopt, amend and rescind bylaws, to
In vi
from any cause. and to appoint from
their own number an executive COM
mittee and vest said committee with
all the powers granted the directors by
these articles.
ARTICLE VII
Tho highest amount OF Indebtedness
or liability to which the corporation
may at any one time subject itself, is
Sixty-six Thousand Six Hundred and
Slxty-six Dollars 1855, ,666 00);provided. i.
however. that Indebtedness heretofore
or hereafter authorized by not less
than three quarters In interest of the
stockholders at any regular or special
meeting or liq quidation OF the stock
holders of this corporation, and approv-
ed by the corporation commission of
the State OF Arizona, shall not be sub
ject to the limitations herein prescrib-
ed and shall not be considered part
of the Indebtedness so limited.
ARTICLE VIII
The private property OF the stock
holders. of the corporation shall be for.
ever exempt from its debts or obliga.
tions,
ARTICLE TX
This corporation does hereby ap.
point Ned Creighton, of Phoe nix, Ari-