The border vidette., 1903-12-05

n lue of One Dollar each. and all stock when issued shall be fully paid and non assessabIe. The capital stock may be increased or decreased by the affirma- tive vote of a majority of the stock, but in case of the increase of the cap ltal stock each harehOlder shall have the privilege of subscribing for the same number of shares of the increase as were held by him before such in- crease.
 SEC. 2-Shares of capital stock shall be transferable. hut no transfer shall be valid, except between the partieS thereto. until regularly entered upon the books of the corporation. showing the numes ana addresses of the persons by and to hom transferred, the num- ber and other designation of the shares, and the date of the transfer ARTICLE N. SEC. The affairs of this corporation shall be cOnd ucted bV a board Of direct ors consisting of Five mem bers, each of whom shall be ;t StoclSholder, and when e+er any director ceases to be stock holder no shall at the same time cease to be ;I director. The directors shall be elected by the ckhOlders annual ly, at the regular annual meeting Of said stockholders. and shall hold office for one year and until their successors ! are elected and qualified.
 SEC. 2-the annual meeting of the stock holders may be held at any of the
 
 held on the last Tuesday of November ! in each year Any vacancy in the
 Board of Directors may be filled by the | remaining members of the board by appointment from among the stock holders, and any person so appointed shall hold office for the unexpired term of the person i'll whose place he IS ap- pointed.
 SEC. B. Until the first anual meeting of the stock holders, and until their successors are elected and qualified, the following named persons shall constitute the Board of Directors of said cor poratIOn: Roscoe l.. Logan, l.. A. ] feague, A. Cane, C. O'Brien Reddln and II. B. NJ. Miller. A ma jorlty Of the Board of Directors shall constitute ness.
 SEC. 4.-N-ithin ten days after the I ceietion of any Board of Directors they shall meet and elect from among their | mum Der the officers of this corporation, who shall be d president, vice. president, secretary and treasurer, and such other minor officers or agents as the Board of Directors may deem necessary for the best interests of the corporation. SEC. 5-The Board of Directors shall have the power to hold it's meetings at any of the offices of the corporation. ARTICLE V. SEC. I-The highest amount of indeb- tedness or liability to which this cor poration is at any time to subject itself, shall not exceed the sum of Two Hun dred and Fifty Thousand Dollars, and no debts shall be incurred except by authority of the Board of Directors.
 SEC. The private property of tEe stock holders shall be exempt from cor porate ebts and liabilities.
 ARTICLE VI.
 SEC. 1.-The time of the commence ment of this corporation shall be the day of the filing of its Articles of In corporation in the office of the County Recorder of Santa Cruz County, Ari- zona, and a certified copy thereof in the etfice of the Auditor for said Terri tory. and the termination thereof shall be twenty-five years thereafter, unless the same be renewed, or unless said corporataion be dissolved prior to that time by majority vote of it's mem bers or by operation of law.
 ARTICLE VII.
 SEC. I-These Articles of Incorpor- ation may be altered or amended at