White Oaks eagle. (White Oaks, N.M.) 189?-190?, 1903-01-22

sufficient number of horses to care for
said stock. The said lands, ranches and
improvements on same when conveyed,
leased and transferred to said company
as herein provided, to be accepted by it in
full payment for the fifty thousand shares
of the capital stock of the company issued
to the said original incorporators as herein
provided; and when so issued the same
shall be fully paid for and forever non-as-
sesable, and it shall be conclusively pre-
sumed as against all persons dealing with
this corporation, whether the creditors,
stockholders, or Others that the sum herein
fixed as the value of said lands, ranches,
and Improvements, is the fair and reasona-
BILE cash value of the same, and all persons
shall be forever barred and estopped from
setting up or claiming in any proceedings
equitable or legal, that the price herein
fixed is not the actual cash value of the
same, and was not at the time of the con-
veyance and transfer of the said lands,
ranches and Improvements to this corpora
ton, or that the said fifty thousand shares
of capital stock issued in lieu of same is
not fully paid up.
One hundred thousand shares of the
capital stock of this corporation shall be
set aside as treasury stock the same, or
any part thereof to be sold at such prices
as shall be fixed by the Board of Directors,
and the money derived from such sale
shall be used to purchase such live stock as
shall be by the Board of Directors direct
ed to be purchased for the stocking of the
lands and ranches of this corporation or
in the furtherance of any of the objects
and purposes of the company, as may at
any time be directed by its Board of D-
funds derived from the sale of any of the
said stock be used for any other purpose
than those designated in these articles as
objects and purposes of the corporation,
or such as are incident and necessary there
to and then only after the Board of Direct
ors shall have decided upon such expendi-
ture and directed same to be made by a
majority vote of the said Board No stock
shall be voted until sold and entered upon
the books of the company, and cash paid
into the companys treasury therefor,
except the fifty thousand shares of stock
,,,h; oh Oh no to thA al
incorporators and it may be voted when
issued as herein provided and entered upon
the books of the corporation.
ARTICLE ".
The life of this corporation shall be fifty
years unless sooner dissolved as provided
by law.
ARTICLE V.
The capital stock of this corporation
shall be forever non ~assessable, the law
and court decisions, if any there be, to the
contrary Notwithstanding, and all of sale
stock when issued and paid for at the price
fixed by the Board of Directors, shall be
fully paid up and forever non-assessable
and it shall be conclusively presumed a:
against all persons dealing with this cor
: poration, whether creditors, stockholders
or others, that the amount paid for it
| capital stock and accepted by the company
, was at the date of purchase and paymen
the value of the same, and all persons shall
Y be forever barred and estopped from set
r ting up or claiming in any proceeding
/ either at law or in equity, that the saiC
= stock, or any of it, is not fully paid up.
ARTICLE VI.
This CORPORATION shall have the nowe