The border vidette., 1906-12-15

operate smelter or smelters or otEer plants for the reduction of ores and to lease own and to operate telephone and telegraph lines.
 Article f. The amount of the capital stock of said corporation is $5.0O0.00, and the number of shares into which it is divided is 5000 of the par value of SI.Co per share. Article ,. At such time the Board of Directors by resolution may direct. the capital stock shall be paid into the corporation and such payments may be made either in cash or by the sale and transfer to it of property of any kind for the uses and purposes of said corpora tion and shares Of said capital stock may then be issued and said shares issued shall there upon and thereby be and become forever fully paid up. and in the absence Of actual fraud the judgment of the Board of Directors as to the value of such property purchased or services rendered to the corporation for shares of stock in said corporation shall be forever conclusive. ano shares of stock may be issued for services rendered to said corporation either in its creation or for other services and such stock shall stand upon the same footing if it hud been paid for in actual cash. The shares of the capital stock of this corporation may be sold by order of the Board Of Directors at any sum less than par which the Board of Directors at their discretion may direct and when so sold and issued fully paid said stock shall be deemed fully paid and the holder or holders thereof shall never be or become liable to said corporation or the creditors thereof or to any other person whomsoever for the amount Of the difference between the price paid for said shares of stock of said corporation md the par value thereof.
 Article G. That the existence of this corpo- ration shall be deemed to commence upon the date upon which duly certified copies of these articles of incorporation shall be nled with tht. Territorial Auditor of the Territory of Arizona. and the termination thereof shall be twenty five years from said date. unless renewed or extended pursuant to the laws of said Terri tory of Arizona.
 Article 7 The Affairs of this corporation shall be conducted by a board of seven or more directors. majority of whom being present and acting may proceed with authority. and their acts shall be binding if all were present. The following named persons will constitute said Board of Directors until their successors shall be duly elected.
 Albert M. Conard of Nogales, Arizona.
 William R. Moore of Kansas City. Missouri.
 Edward D Ellison oi Kansas city. Missouri
 J. M Lowe of Kansas City. Missouri
 Robert s. Stone of Kansas City. Missouri
 C. F. Kroh of Kansas City. Kansas.
 r. F.. Reed of Kansas City. Kansas. 7I
 All subsequent directors shall be elected from among the stockholders the bylaws of the corporation may provide. and the vote of any stockholder may be cast in person or by written proxy. which written proxy when once executed shall continue in force until revoked in writing and such revocation filed with the secretary of the corporation.
 Article 8. This corporation shal never create any indebtedness against itself m an umoun exceeding B 5OO.OO dollars
 Article Q. The stockholders of this corpo- ration and their private property shall bc for ever exempt from all corporate debts and