The border vidette., 1908-10-03

articles of merchandise the board of Dircc- tors may deem necessary expedieIt; to buy, own or contract for, or sell or otherwise dis pose of cattle, horses, sheep, other animals 0 their products, and to do md carry all things pertaining to the cattle business to carry on, do and perform each, every and all matters and things necessary expedient proper to carry out the purposes of this corpo- ration, or for which individuals may lawfully assocIate themselves together to perform and generally to do and perform eacn and evory act and thing which it is lawful for nature persons to o.al of which business occupations may be carried on at such place places as the board of Directors shall deem for the best in terests of the Corporation.
 ARTICLE V.
 The amount of the capital stock of this Cor poration shall be Two Million tS2. 900 OOO) dol lars, divided into Four Hundred Thousand 4oo,oO0) shares of the par value of Five CS5oO) dollars each
 At such time and under such conditions s the board of Directors shall direct, said capital stock shall be paid into the corporation either is cash by the sale and transfer to it of real personal property for the and purposes of the corporation. for services rendered on behalf of said corporation. in payment of which shares of the capital stock shall be is- sued, anGi said stock, when issued shall be fully paid and non-assessabe. The capital stock may be increased or decreased by the affIrma-
 
 of the increase of the capital stock, each share holder shall have the privilege of subscribing for such number of shares of tho 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 or liability, either direct contingent to which this corporation is at any time to subject itself shall not exceed the suu of One Million Two Hundre aad Fifty Thousand (SI ,OOO) dol and their private property shall be exempt from the payment of it's corporate debts.
 ARTICLE VII.
 The business affairs of this corporation shall be conducted by q board of Directors consist- ing of not less than three nor more than eleven members, each of whom shall be a stpckh older: {: and whenever any director ceases to be stock holder ho shall at the time cease to be a director. The directors for any ensueiDg 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- pointrnent made. The incorporators whose names hereto subscribed shall constitute the first Board of Directors. but they shall have power to increase the mem mbership of the Board of Directors to any number not exceeding eleven and the directors appointed shall until tine first annual meeting of the stockholders in September the following ear. constitute quorum for the transaction of