The border vidette. (Nogales, Ariz.) 1894-1934, 1904-03-05


such places either in the United STATE
or foreign countries the Beard of
Directors may consider for the best in
terests of the corporation.
V
The amount of the capital stock of
this corporation shall be One Million
Dollars 81 200, 000) divided into
One Hundred Thousand shares of the
par value of Ten Dollars $50 each. At
such time and under such conditions rs
the Board of Directors may direct said
capital stock shall he paid into the
corporation, either in cash, by the
sale or transfer to it of real or personal
property for the uses and purposes of
the corporation, in payment of which.
shares of the capital stock shall be is
sued. and said stock, when issued, shall
be fully paid and non assessable. The
capital stock may be increased or de-
creased by the Affirmative vote of a
majority of the stock then issued: but
in case of the inc. aSe of the capital
stock. each shareholder shall have the
privilege of subscribing for such mum
Der of shares of the proposed increase
as he may be entitled to according TO
the number of shares he'd by him be
fore the stock is increased.
VI.
The highest amount OF Indebtedness
or liza bility. either direct or contingent
to which this corporation Is IA any
time TO subject itself. shall not exceed
the sum of Six Hundred and Sixty
Thousand (SG6O, 000j dollars; and the
private property of the stock folders of
this corporation shall be exempt from
the payment of its corporate debts.
VII.
The business affairs of this corpor-
alton shall be cond ueted by BOARD of
Directors consisting OF not less than
five nor more than seven members,
each of whom shall be stock holder;
and whenever any Director ceases to be
Ctn .r<nl1 dor has hall no
ceaSe to be Director. They shall be
elected annually by the stock holders
at their regular annual meeting which
shall he held at any of the offices of
the corporation on the rirst Monday of
December of each year, and shall hold
their office until their successors are
elected and qualified. Any vacancy in
the Board OF Directors may be filled
by the remaining members of the Board
by appoi tmeut from among the stock
holders. and such appointment shall DO
for the unexpired term for W ich the
appointment is made. The first Board
of Directors shall consist of the incor-
poratOrs whose names are hereto sub
acribed. majority of the Board of
Directors shall constitute a quorum for
the transaction of business.
VIII.
Within ten days after the election OF
any Board OF Directors. they shall meet
at any of the offices of the company
which shall be Il President. Il Vice
President. Secretary and n Treasurer,
and such other minor officers or agents
IS the Board of Directors may deem
necessary for the best interests of the
corporation. The President and the
Secretary and Treasurer shall be mem
bers of the Board of Directors, and the
office of Secretary and that of Treas
nrer may both be filled by the same
Director. All the officers shall hold
their Office 1nr1nf. he life Of the RnarR
of Directors by whom they are elected.
and until their SUCCESSORS are elected
and qualified. unless sooner removed
by Il vote of two-thirds' of the direct
the stock holders. the following named
shall constitute the officers of this cor
poration, viz:-Richard Grid, Presi-
dent: II. G. Brady. Vice President
Henry Levin, Secretary and r. c
Davis, Treasurer.
These Articles of Incorporation may
be altered or amended at any regular
meeting of the stock holders. or ut any
special meeting called for that purpose,
by an affirmative vote of Il ma orisy
of the stock then Issued: and the Board
of Directors or any three Stockholders
may call 4 meeting of the stock holders
for that, or any other purpose not in
consistent with law, but notice of such
proposed amendment shall be given to
each stock older, either personally or
in writing, at least twenty days prior
to the meeting at which such amend
ment shall be voted upon.
IN WITH ESS WHEREOF, we have
hereunto set orr hands and seals this
first day of February y. D., 1904.
RICHARD GIRD Seal
MELVILLE c. ERSIlINE Seal
Il c. BRADY Seal
r c. DAVIS Seal
HENRY LEVIN Seal
ALEJ. JOFFROY, Seal.
Territory of Arizona.