The border vidette., 1907-12-14

Article V. The amount of the Cap itaI stock of this corporation shall be Fifty Thousand (S5O, O,OOO) Dollars, divid- ed into Five Hund red shares of the par value of One Hundred Dollars (SlOO) 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 in cash, or services rendered. or by the sale and transfer to 1t 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 fully paid and non -as-
 sessable.
 Article VI. The highest amount of
 indebted ness or liability, either direct
 or contingent, to which this corpor-
 ation is at any time to subject itself,
 shall not exceed the sum of Ten Thous-
 and (S1O, ,OO0) Dollars; and the private
 property of the stockholders of this corporation shall be exempt from the
 payment of its corporate debts.
 Article VII. The business affairs of
 this corporation shall be conducted by
 a Board of Directors consisting of net
 less than three nor more than hve
 members, each of whom shall be
 stock holder: and whenever any Direct
 or ceases to be a stockholder, he shall
 at the same time cease to be a Director.
 They shall be elected annually by the stock holders at their regular annual
 meeting, which shall be held at the of-
 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- 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 a such appointment shall be Tor the un- expired term for which the appoint
 ment is made. The first Board oi C Directors shall consist of the iucorpor- :. ators whose names are hereto subscrib- = ed, and they shall continue to con e stitute the Board of Directors until the t regular annual meeting of the stock $ holders on the second Monday Of No ), yember, 1908. A majority of the Board n of Directors shall constitute quorum r. for the transaction of business.
 Article VIII. The officers of thi : corporation shall be a president, vice [ president, secretary and treasurer
 They shall be elected annually by thu Board of Directors from among thei
 number, and shall hold their office dur !, ing the life of the Board of Director r. by whom they are elected and mt o, their successors arc elected and qual ys fled unless sooner removed by vot ,;, of two-thirds of the Directors. I'D o. officers who shall hold their office unt ,d the first annual meeting of the stock =, holders in November, 1908, shall be l ,la B. Fleischer, President; Albert Masc' ,, reIas. Vice-President; and Manuel Ma = eareiias. Jr., Secretary and Treasurer. ,r- Article K These Article of Inco ss, poration may be altered or amended E, any regular meeting of the stockhol
 CTS, or at any special meeting call' or for that purpose by an affirmative vo as of a majority of stock; and the Boa nd of Directors may call meeting of t of- stock holders for this or any other pu ess pose not inconsistent with law, b wn notice of such proposed amendme ri shall be given to each stockhold lay either personally or in writing at les ct- twenty days prior 10 the meeting Or which such amendment is to be vot for upon.
 l. IN WITNESS WHEREOF, We ha om- hereunto set our hands and seals t be eighth day of November, A. D., 1907 In- l.. B. FLEISCHER, (SEAL nty M. MASCARENAS, JR., (sEAL Ari- A. MASCARENAS, tSEAL
 in I. A. FAYMONVILLE, (SEAL r1- In presence of Frank J. Duffy. tiOn