The border vidette., 1903-07-25


 tions, any and all rights, powers and privileges of individual owners thereof, including the right to vote upon any shares of stock held by it to the same extent that natural person might or could do; and in general to do all things necessary to the proper conduct of the business of this corporation in the Territory of Arizona and else where not inconsistent with, the laws of the United States and the Terri tory of Arizona.
 Fifth-The authorized amount of capital stock of this corporation shall be Five Million Dollars (S5. OO0.- 0O,) divided into Five Hundred Thousand (5OO,OOO) shares of the par value of Ten (SlOO0) Dollars each. And payments for said stock at such time as the board of directors may by resolution direct, may be made in busi- ness interests or property at valu- ation to be fixed by a vote of two thirds of the directors, and duly as signed to the corporations; in services rendered to or for tine company; or in cash-and when so paid for by unani- nous concurrence of all the directors and of all the stockholders, the same shall be issued as fully paid for and non -assessab ble, and when so paid for and issued said stock shall be fully paid and forever non assessable, and each certificate of stock when issued shall have printed or stamped upon its face the fact that the shares of stock represented by said certificate are fully paid and non assessable.
 SiXth-The time of the commence ment of this corporation shall be the date of the filing of these articles of in corporation for record in the office of the County Recorder of Santa Cruz County, Territory of Arizona, and the termination thereof shall be twenty five (25) years thereafter
 SeVenth-The affairs of said cor. poration shall be conducted by board of five directors and the following named shall constitute the board of directors until their successors are elected: s. w. Ferguson. H. Flaw good. J. M. Kellerman, Howard w. Squiers and Frank Cox. Thereafter the board of directors shall be elected from among the stockholders of the company as the bylaws of the corpor- ation may provide.
 Eight-The officers of this corpor- ation until their successors are elected shall be. s. w. Ferguson, president; J. M. Kellerman, vice president; John J. Herr, secretary; and treasurer, H. Hawgood.
 Ninth-The highest amount of indebtedness or liability, direct or contingent, to which this corporation may at any time subject itself shall be One Million Dollars (Sl, ,O00,0O0.0O.) which amount does not exceed two thirds of the capital stock.
 Tenth-The private property of stockholders in this corporation shall be exempt form it's corporate debts of any kind or nature whatsoever.
 Eleventh-The board of directors shall have power to make and adopt such prudential bylaws as they may deem proper for the management of the affairs of the corporation, not inconsistent with the laws of the Ter ritory of Arizona, for the purpose of carrying on all kinds of business with in the objects and purposes of such corporation, and may repeal or amend the same at any time by twot thirds vote of the full board of directors, subject to the approval of a majority of the stockholders of said corporation.
 IN WITNESS WHEREOF, the above-named incorpotators have here unto set their hands and seals the 23rd day of June, 1903.
 H. HAwGoOD Seal
 J. M. KELLERMAN Seal
 $. w. FERGUSON Seal
 HOWARD w. SQUIERS Seal