The border vidette., 1908-10-10

articles of merchandise the board of Direc- tors may deem necessary expedeI.t; to buy, own or contract for, sell other wise dis pose of cattle, horses, sheep, other animals their products and to do Ind carry on all things pertaining to the cattle business to carry on. do and perform each, every aud all matters and things necessary expedient proper to carry out the purposes of this corpo- ration, or for which individuals may lawfully assoclate themselves together to perform. and generally to do and perform each and every act and thing which it is lawful for nature persons to do.al l oT which business occupations may be carried on at such pace places as the board of Directors shall deern for the best in terests of the Corporation.
 ARTICLE V.
 The amount of the capital stock of this Cor poration shall be Two Million (S2 600, ,OOO) dol lars, divided into Four Hundred Thousand (i0O.OOo) shares of the par value of Five (S5.00) dollars each.
 At such time and under such conditions as the board of Directors shall direct, said capital stock shall be paid into the corporation either is cash by the sale and transfer it of real or personal property for the uses and purposes of the corporation. or for services rendered behalf of said 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 decreased by the afflrma-
 
 of the increase of the capital stock, each share holder shall have the privilege of subscribing for such number of shares of the proposed in crease he may be entitled to in proportion to the number of shares held by him before such increa-e.
 ARTICLE VI.
 The highest amount of indebtedness liability, either direct or contingent, to which this corporation is at any time to subject itself mt of TvyO Hundrei and Fifty Thousand (S1, ,250 ,00O) dol lars, and the stockholders of this corporation and their private property shall be exempt from the payment of its corporate debts.
 ARTICLE VII.
 Tine business affairs of this corporation shall be conducted by n board of Directors consist ing of not less than three nor more than eleven members each of whom sha all be a stockholder; |; and whenever any director ceases to be a stock holder he shall at the same time cease to be director. The directors for any ensueing year shall be elected by the stockholders at their e. gular annual meeting which shall be held at the princiaa office of the company the first Monday of Sept. of each year. and they shall hold their office until their successors are elect ed and qualified. Any vacancy in the Board of Directors may be filled by the remaining mem bers of the Board by appointment from among the stockholders, and such appointment shall be for the unexpired term for which the ap- pointment was made. The incorporators whose names are hereto subscribed shall constitute the first Board of Directors. but they shall have power to increase the membership of the Board of Directors to any number not exceeding eleven, and the directors appointed shall serve until the first annual meeting of the stockholders in September the following ear. A majority of the Board of Directors shall constitute quorum for the transaction of business.
 ARTICLE Viii.
 Within ten days after the election of any