The border vidette., 1907-12-21

Article V. The amount of the Cap- ital stock of this corporation shall be Fifty Thousand (S5O, ,OOOD Dollars, divid- ed into Five Hundred shares of the par value of One Hundred Dollars ($loOJ each. At such time and in such man. ner as the Board of Directors shall direct, said capital stock shall be paid into the treasury of the corporation either m cash, or services rendered. or by the sale and transfer to it of prop erty for the uses and benefit of the corporation; and the Board Of Direct ors may issue shares of stock in pay ment for such services or property. and their judgement in so doing. including the fixing of the price of such services or property shall, in the absence of fraud, be conclusive. Said stock when issued shall be fnlly. paid and non -as- sessable.
 Article VI. The highest amount of or Contingent, to which this corpor- ation is at any time to subject itself. shall not exceed the sum of Ten Thous- and (S1O, OOO) Dollars; and the private property of the stockholders of this, corporation shall be exempt from the pay ment of its corporate debts.
 Article VII. The business affairs of this corporation shall be conducted by Board of Directors consisting of not less than three nor more than five members, each of whom shall be a stockholder; and whenever any Direct or ceases to be stockholder, he shall at the same time cease to be Director. They shall be elected annually by the stock olders at their regular annual meeting, which shall be held at the off, flee of the Company in -Nogales on the second Monday in November in each year, and shall hold their office until their successors are elected and qual- 1 flied. Any vacancy in the Board of Directors may be filled by the remain | ing members of the Board by appoint ment from among the stockholders, and such appointment shall be for the un- expired term for which the appoint ment is made. The first Board of Directors shall consist of the ineorpor- ators whose names are hereto 5ubscrib- | ed, and they shall continue to con- stitute the Board of Directors until the regular annual meeting of the stock holders on the second Monday of No vember, 1908. A majority of the Board of Directors shall constitute quorum for the transaction of business.
 Article VIII. The officers of this corporation shall be a president, vice. president, secretary and treasurer. They shall be elected annually by the Board of Directors from among their | md ho1l I,01 hai drrr | ing the life of the Board of Directors by whom they are elected and nnta their successors are elected and qnal- i flied unless sooner removed by a vote of two-thirds of the Directors. The officers who shall hold their office until the first annual meeting of the stock holders in November, 1908, shall be L- B. Fleischer, President; Albert Masca- reIias, Vice-President and Manuel Mas carenas, IT,, Secretary and Treasurer. Article TX. These Article of Incor- poration may be altered or amended at any regular meeting of the stock hold CTS, or at any special meeting called for that purpose by an affirmative vote of majority of stock; and the Board of Directors may call a meeting of the stock holders for this or any other pur- pose not inconsistent with law, but notice of such proposed amendment shall be given to each stock kholder either personally or in writing at least twenty days prior To the meeting at which such amendment is to be voted upon.
 IN WITNESS WHEREOF, We have
 hereunto set our hands and seals this ) eighth day of November, A. D., 1907. L.. B FLEISCHER, (SEAL) M. MASCARRNAS, JR., (sEAL) A. MASCARENAS, tSEAL) I. A. FAYMONVILLE, (SEAL)
 In presence of Frank J. Duffy.