The oasis., 1911-07-29

deal in the same; to carry on and conduct q general mercantile business, and to that end to deal in any and all commodities Of every kind conducive to the successful conduct o said business; to purchase own hold, control and deal in and handle it's own and the shares and properties of other companies and corpora tions; to locate, buy, bond, acquire, hold, own lease possess, operate, sell, mortgage pledge or otherwise dispose Of or hypotheeate oil lands, mineral lands, oil, gas asphAltum petroleum or any of their products, asbestos salt water and water rights, and any and all kinds of machinery and processes necessarily connected with the reduction and handling Ol metals; to borrow money, and to execute notes bonds, mortgages or deeds of trust to secure the same also to acquire, build, own and Oper ate railroads, tramways, turnDikes canals and other means of transportation to and from its mines or works to any railroad, waterway or highway, and generally to do all things incl dent and necessary to the proper and success ful conduct of it's business tnd to do and per form each and every act and thing which It is lawful for natural persons to do; all of which business may be carried on at such place or places as the Board of Directors may deem for the best interests of the corporation.
 V.
 The amount of the capital stock of this cor porution shall be One Million (Sl O00, ,O0U) shares of the par value of five ($j) dollars each. The shares of stock taken by purchasers thereof shall be paid for at such time and in such manner as the Board of Directors shall determine, either in cash or by the sale and transfer of property Go the corporation or by service rendered, and said stock when issued shall be fully paid and nOn-assessable. he capital stock may be increased or decreased by the affirmative vote of a majority of the stock but in case of the increase of the capital stock each shareholder shall have the privilege of subscribing for such number of shares of the proposed increase as he may be entitled to in proportion to the number of shares held by him before the stock is in creased.
 VI
 The highest amount oi indebtedness or lia bility, either direct or contingent. to which this corporation is at any time to subject itself shall not exceed the sum of two-thirds of its capital stock; and the private property of the stockholders of this corporation shall be iOr- ever exempt from the payment of its corporate debts.
 VII
 The business affairs of this corporation shall be conducted by a Board of Directors consisting of not less than three DOT more than seven members each of whom shall be a StOckhOlder; i; and whenever director ceases to be stock holder he shall at the same time cease to be a director. They shall be elected annually by the stockholders at their regular annual meet ing which shall be held on the third Monday of October in each year and they shall hold their office until their successors arc elected and qualified. Any vacancy in the Board 0f Directors shall be filled by the remaining members of the Board by appointment from among the stockholders, and such appoint ment shall be for the uneXpired term for which the appointment is made The first Board of Directors shall be chosen by the undersigned ncOrpOratOrs and they shall hold their office until the regular annual meeting of the stockholders on the third Monday of October nineteen hundred and eleven. A majority of the Board of Directors shall const- tute quorum for the transaction of business.
 VIII.
 Within twenty days after the election of any Board of Directors they shall meet and elect the officers of this corporation, who shall be q President Fice-Presldent, Secretary and Treasurer, aad such other minor officers and agents as the Board of Directors shall deem necessary for the best interests of the corpOra- ti0n. All officers shall hold their office during the life of the Board of Directors by whom they are elected and qualified. Any two offices may be filled by the same person
 K
 Those Articles of Incorporation may be altered or amended at any regular meeting of the stockholders or at any special meeting called for that purpose by q majority vote of the stock; and the Board Oi Directors or a ms j0rity of the stockholders may call a meet ing of the stockholders for this or any other purpose not inconsistent with law but notice oi such proposed amendment shall be given to each stock klOlder either personally or in writ ing at least twenty days prior to the meeting al which snch amendment shall be VC ted uDon.
 lN WITNESS WHEREOF. we have hereuntO set our hands and seals this twenty. sixth day of June, A. D.. nineteen hundred and eleven.
 HENRY GREENWELL. SEAL