The border vidette., 1928-05-26

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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 W 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-
tions, and the performance of any con
| tracts
The business or purpose OF the com.
pany il from time to time to do any
one or more of the acts and things
hereinbbove 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-
cise all or any OF it's corporate powers
| and rights, In the State Of Arizona,
and in the various other states. terri
| tories. colonies, aud 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 ($lOO 600 COY divided into One Hun
dred Thousand shares OF the par value
of One Dollar Isl .OO) each, " hich 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 inll-paid
the same as though paid for in cash at
par, and shall be non-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.
ARTICLE v
| The affairs OF the corporation shall
| be conducted by Board OF Directors
snd such officers as 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 8. Caward, Ross
81. Quinby. Stewart L. Crebs.
Officers: President, Harry 8. Ca
ward; Vice President, Ross II. Quin-
/ by; Secretary 4 Treasurer. Stewart l..
| Crebs.
ARTICLE vi
The directors shall have power to
| adopt, amend and rescind by-laws. to
| fill vacancies occurring In the Board
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 sut jecf itself, is
Sixty-six Thousand Six Hundred and
Sixty six Dollars 1855, ,666 00);provided
however. that indebted ness heretofore
or hereafter authorized by not less
than three quarters In interest OF the
tockholders at any regular or special
meeting, or liquidation OF the stock
holders of this corporation, and approx
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 It's debts or obliga.
tions,
| ARTICLE IX
This corporation does hereby ap-
point Ned Creighton, OF Phoenix, Ari.