The border vidette., 1908-10-24

proper to carry the purposes of this corpo- ration, or for which individuals may lawfully assocIate themselves together to perform, and generally to de and perform each and every act and thing which it is Ia wful for nature persons to do.all of which business or occupations may be carried on at such place places as the board of Directors hall deem for the best in terests of the Corporation.
 ARTICLE V.
 The amount of the capital stock of this Cor pJration shall be Two Million (S2 900. .O0O) dol lars. divided into Four Hundred Thousand o.0o0) shares of the par value of Five (S5.OO) dollars each.
 At such time and under such conditions the board of Directors shall direct, said capital stock shall b, paid into the corpora either is cash 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. ani said stock, when issued shall be fully paid and non-assessablc. The capital stock may be increased or decreased by the afhrma- tive vote of a majority of the stock; but in case 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 as 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 shall not exceed the sum of One Million Two HundreI and Fifty Thousand (Sl.25O .OOO) 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 board of Directors consist ing of not less than three nor more than eleven members. each of whom shall be a stockholder; and whenever any director ceases to be a stock holder ho shall at the samo time cease to be director. Tho directors for any ensueing year shall be elected by the stockholders at their gular annual meeting which shall be held at the principal 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 incorporators whose names are hereto subscrl bed 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 until the first annual meeting of the stockholders in September the following year. 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 Board of Directors they shall meet and elect the officers of this corporation. who shall be . President, VIce-President, Secretary and Treas urer and such other minor officers agents the board of Direc' tors may deem necessary 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 are elected, and until their successors elected and qualified, unless sooner removed by a vote of two thirds of the Directors.
 ARTICLE TX.
 These articles of incorporation may be alter ed amOnded at any regular meeting of the stockholders, at any special meeting called for that purpose, by affirmative vote of 8 majority of the stock and the Board of Direc- tors any three stockholders may call a meet ing of the stockholders for this any other purpose inconsistent with law, but notice of such proposed amendment shall be given to each stockholder either personally in writ ing, by letter deposited in the post office ad- dressed to the StOckholder at his last known residence. at least twenty days prior to the meeting at which such amendment is to be voted upon.
 IT WITNESS WHEREOF, we have hereuntO set our hands and seals this 23rd September, A. D., 1908.
 l.. M. RAINES. (SeaD
 P.J. MCINTYRE, (SeaD
 PHIL HEROLD. (SeaD In presence of M. Marsteller.