The daily morning oasis., 1920-10-29

hold, own, sell shares III this or 9TH
er corporations, and to pledge or
hypothecate the same to secure re-
payment of money borrowed by and
on behalf of this corporation; ond to
exercise all other powers the Board
of Directors of this corporation may
deem necessary for the legal and
proper conduct of it's business, and to
do each and everything necessary,
suitable, or proper for the accom-
plishment of any of the purposes, or
attainment of any of the objects
herein enumerated, OF which shall,
at any time, appear conducive to, or
eXpedient for the protection of the
purposes of this corporation.
".
The capital stock of this corpora
ton shall be Twenty-Five Thousand
($25,000) Dollars, divided into five
hundred (500) shares par value Fifty
(S50.00) Dollars, per share At
such time and under such conditions
as the Board of Directors may de-
termine, suhscripticns tc tie capital
stock shall be paid for, either in cash
CT by the sale and transfer to the
corporation of real Cr personal prop
erty, fer uses and purposes of the
corporation, or for services render
ed; and said stock when issued, shall
be fully paid and non-assessable
vi.
The highest amount of indebted
ness or liability, either direct or
contingent, to which this corporation
is at any time to subject itself, shall
not exceed two-thirds of the amount
cf it's capital stock; and the private
property of the stockholders of this
corporation shall be exempt from the
payment of it's corporate debts.
VII.
The business affairs of this CORP
oration shall be conducted by its
Board of Directors, consisting OF
seven members, each of whorn shall
be a stakeholder; and whenever any
Director shall cease to be a stock
holder, he shall at the same time
cease to be Director. They shall
be elected annually by the stockhold-
ers at their regular annual meeting
which shall be held at the office of
the corporation in Nogales, Arizona.
on the third Monday of September in
each year, and shall hold their office
until their successors are elected and
qualified. Any vacancy in the Board
or Directors, may be filled by the re-
naming members Of the Board by
appointment from among the stock
holders, and any Director so appoint
ed shall hold his office until the next
annual meeting of the stockholders.
A majority of the Board of Directors
shall constitute quorum for the
transaction of business. The first
the incorporators whose names are
hereto subscribed, and they shall con-
tinue to constitute the Board of Di-
rectors until the regular annual
meeting of the stockholders, Septem-
Der 1921, unless removed by death,
resignation or otherwise. The Board
of Directors shall have power and
authority to adopt bylaws for the
government of the corporation
The officers of this corporation
shall be a President, Vice-President,
Secretary Treasurer, and such other
officers or agents as the Board of
Directors may deem necessary for the
purposes of the corporation. They
shall be elected by the Directors at
meeting of the Board, and shall
hold their office during the life of
the Board of Directors by whom they
9rn alao+ed or ,1pfi1 tboir e,1oooccorr
are elected and qualified, unless
sooner removed by the vote of two
thirds of the Directors.
TX.
These Articles of incorporation