The border vidette., 1908-10-31

proper to carry o tn" pnrpos es of this corpO- ration, or for whi individuals may lawfully associate thems,.lv together to perform, and generally 50 ani perform eacn and every act and thing which it is lawful for nature persons to do.all of winch business or occupations may be carried on at such p:ace or places IS the board of Directors hal deem for the best in terests of the Cooperation.
 ARTICLE V.
 The amount of the capital sock of this Cor D ration shall b, Two Million (SI. .OO0. .OOO) dol lars divided into Four Hundred Thousand GOO. .O00) shares of the plr value of Five (S5.OO) dollars each.
 At such time and under such conditions as the board of Directors shall direct, said capital stock shall b. paid into the corpura either is esh. by the sale and transfer to it of real personal property for the uses and purposes of the corporation, for services rendered behalf of said corporation. in payment of which shares of the capital stock shall be is- sued, an'i said stock, when issued shall be fully paid and non-ass-ssab.e. The cap tai stock may be lcreased or decreased by the afflrma- tive vote of q majority of the stock; but in of the increase of the pital stock, each share holder shall have the privilege of subscribing for such number of shares of the proposed in crease as he may D, entitled to in proportion to the number of shares held by him before such increa-e
 ARTICLE VI.
 The highest amount of indebtedness liability, eth r direct contingent, to which this corporation is at any tim, to subject itself shall not exceed the suW of One Million Two Hundre al Fifty Thousand (SI, ,250 ,0OO) dol lars. and the stockholders of this corporation and their private property shall be exempt from the payment of it's corporate debts.
 ARTICLE VII.
 Tine business affairs of this corporation shall be conducted by board of Directors consist ing of not less than three nor more than eleven members. each O. whom shall be Il stockholders; and whonev 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 re- guar annual meeting which shall be held at the princi pal office of the company the first Monday of Sept. Of each year and they shall hold their office until their successors 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 made. The incorp porators whose names are hereto subscribed shall constitute the first Board of Directors. but they shall have power to increase the mem Dership of the Board of Directors to any number not exceeding eleven, and the directors so appointed shall serve until the first annual meeting of the stockholders in September the following year.
  constitute a quorum for the transaction of business
 ARTICLE VIII.
 Within ten days after tho election of any Board of Directors they shall meet and elect the officers of this corporation. who shall be President, V1ce-President. Secretary and Treas urer and such other minor officers agents the board of Directors may deem Lecessary for the best interests of the corporation. The Pres indent. secretary and treasurer shall be mem- bers of the board of directors.
 All officers shall hold their office during the life of the board of directors by whom they elected, and until their successors elected and qualified, unless sooner removed by vote of two thirds of the Directors.
 ARTICLE IX.
 These articles of incorporation may be alter ed amonded at any regular meeting of the at any special meeting called for that purpose, by affi -mative vote of ma jority of the stock and the Board of Direc- tors any three stockholders may cali q meet ing of the stOcl5h olders for this any other purpose inconsistent with law, but notice Df such proposed amendment shall be given to each stockholder either personally in writ nS, by letter deposited in the post office ad- lressed to the Stockholder at his last known 'esidence at least twenty days prior to the meeting at which such amendment is to be voted uDon- IT WITNESS WHEREOF, we have hereuntO set ,ur hands and seals this 2}rd September, A. D., 9oS.
 l.. M. RAINES. (SeaD
 P. J. MCINTYRE, (SeaD
 PHIL HEROLD. (SeaD In presence of M. Marsteller.