Sierra County advocate. [volume] (Kingston, N.M.) 1884-1960, 1917-07-20

assesable and may be paid for In ptoper-
ty, money and other values serured to
the Company;
Three Hundred Thousand .(30000OOO)
shares OF the said capital stock being
subscribed as hereinafter set forth and
paid IN real property conveyed to the
Corporation is the capital with which
this company commences business; the
remaining Two Hundred thousand taOO-
000) sharesa are treasury stock and shall he
subject to the order OF the board Of Disec-
tors.
The principal office of said corpora.
tion in the State OF New Mexico shall
be located in the town OF Cutter, Coun-
| ty of Sierra in said State, and the name
Of the agent OF said Corporation there
in in charge thereof and upon whom
PROCESS against said Corporation may be
served is w. II. Weston.
The business Of this Corporation shall
be managed during thefirst three months
OF its corporate life by three directors,
to-wit:
George T. Langhorne. El Paso, Texas.
Ed. Solomon, III Paso, Texas.
w. II. Bucher, Hillsboro, N. M.
who shall hold office until their success
ors are elected and qualified. After the
first three months the number of tho
Directors of the Company shall be and
continue three who shall be chosen from
the stockholders by major vote of the
whole;thereof, and each of said directors
shall own and hold not less than One
Hundred (l00) shares OF the capital
stock. The board of directors may
choose from their number or from the
stockholders one or more whom they
may clothe with authority to act for all
and this power shall extend to all de-
partments OF the operations and busi-
ness OF the corporation, and each OF
which an appointee or manager may be
given control and such compensation of
salary as to the directors may seem lust
and right. The board of directors at
any regular or special meeting and by
major vote shall fix the selling price of
the treasury stock owned by the Cor
poration and until such order shall be
made and catered OF record no treasury
stock may be sold at less than par. The
board of directors may formulate rules
and prepare bylaws for the conduct OF
its business and the direction of its Of
ficeIs and agents.
The Directors OF the Corporation shall
choose its President, Vice'Presideut,
Secretary and Treasurer, and all other
officials shall be chosen as such corpor-
alton shall from time to time determine.
Such directors shal! have power to make
and repeal and amend bylaws for such
corporation, but bylaws 90 made by the
directors, may be amended or repealed
by the stockholders. The directors shall
have power from time to time to declare
such dividends as within their Judgment
seem proper. Said corporation may
have and maintain IN office and princi-
pal place OF business out of the State Of
New MEXICO, and the same shall be To-
Gated at El Paso, Texas, until lawfully
changed therefrom, at which Office any
OF it's busines4 NAV he transacted and at
such office the directors may hold their
meetings and keep the books of the cor
poration including duplicates Of tho
stock and transfer books,
z.
The animal meeting OF the stockhold-
ers of this Corporation shall be held at
its principal office ON the 1st Tuesday OF
the month of September OF ca h year
after 1917, and the first meeting of the
stockholders for the year 1917 shall be
held on the first Tuesday of September,
1917, at the principal Office, and the time
and place Of meetings shall only be
changed by major vote of Board OF d.
rectors, OF which change notice shall be
given to each stockholder at his record
address, a: least ten days prior TO the
day of such proposed meeting. AT any
meeting Of stockholders lawfully con.
vened majority of shares of stock is
sued in person or by proxy present shall
constitute quorum for the transaction
OF business.
The names and residences OF the sew
eral incorporators herein with the num-
Der of shares of the capital stock sub
scribed by each are:
George T. Langhorne, Ell Paso, Texes,
150 900 shares.
Ed. Solomon, FL Paso, Texas, l49 900
shares.
w. H Bucher, Hillsboro, N. NJ, 1000
shares.
The board of directors, il such course
seem expedient and in the interest of
the stockholLers, become associated with
other person or persons, or corporation