The border vidette., 1912-10-05
OFFIcERs:

in full the par value of their shares, together with the accrued dividend, not cum ulative, before any amount shall be paid to the holders of the common stock The preferred may be convert ed 1nto common stock at par for par and shall be subject to redem ption at par at any time on thirty days previous notice to the holder of record thereof The preferred stock shall be entitled to the same voting power as the common stock. All or any portion of the stock may be issued in payment for real or personal property, services or any other Ight or thing of value, necessary for or incidental to the advancement of the purposes of this corporation. and when so issued shall be full paid and non- asseesa ble. In the absence of actual fraud, the judgment of the directorr to the value of any property, right or thing, acquired in exchange for capital stock. shall he conclusive.
 ARTICLE W. The time of the com mencement of this corporation shall be the date upon which the Arzcna Cor poration Commission shall issue to it Certificate of Incorporation, and it shall end ure for the full term of twenty i've years thereafter, with the privilege of perpetual succession as provided by statnte
 AHTICLEV. The business affairs Of this corporation shall be under the management ard control of board of directors consisting of not less than (3) nor more than nine (9) members, each i of whom shall be a stockholder of this ! corporation. Said directors shall be elected annually at the regular meeting of the stock olders of this corporation
 which shall be held the second Tuesday of February in each year here after. and they shall hold their offices until their successors are elected and | qualified. Any vacancy in the board of directors may be filled by the remain ing members of the board. by appoint i ment from among the stock holders and such appointment shall be for the un- expired term for which the appoint ment is made. The board of directors shall have the power to adopt by laws and to amend and repeal the same. to define the duties of the officers. agents and clerks of this corporation and to make all rules and regulations deemed necessary and proper for the manage ment of the affairs and of the business 1 of this corporation. The following shall constitute the board of directors sors are e!ectpd: Edward Warner
 J. Emory Hoy and Frank ". Carter. The officers of this corporation shall be a President, Vice. President, Secretary and Treasurer, and such other officers as the board of directors may by re- solution direct. The office of Secretary and Treasurer may be held by the same person. A majority of the directors shall constitute p quorum for the tram sactiou of b"siness at any of their meet ings, and said directors may h old their first meeting at any time after the com mencement of this corporation.
 | ARTICLE VI. The highest amount of in de ebtedness or liability to which this corporation may at any time subject ! itself Is not more than Six hundred and fifty thousand dollars (S650, 000) ARTICLE VII. The private property of the stock holders Of this corporation shall be forever free and exempt from it's corporate debts of every kind what sOeYer.
 ARTICLE VIII. These Articles of In corporation may be changed or amend ed at any regular meeting of the stock holders or any special meeting thereof called for that purpose, by ma ority vote Of the stock then issued.
 IN WITNESS WHEREOF. have hereunto set our hands and seals this sixth day of June, A. D 1912.
 EDWARD B. WARNER. (SeaI)
 ] EMORY EOY- (SeaD
 NTI|