The border vidette., 1920-12-04

tion; all of which business may be carried on at such place or places, either in the United States or in foreign countries. as the Board of Directors may at any time determine to be for the best interests of the corporation.
 The capital stock of this corporation shall be one million two hundred fifty thousand shares of the par value of one (S1 OO) dollar per share. At such time and under such conditions as the Board of Directors may determine subscrtp- tions to the capital stock shall be paid for either in cash or by the sale and transfer to the corporation of real or personal property. or for services rem dered on behalf of the corporation, and said stock when issued shall be fully paid and non-assessible, and In the ab- sence of actual fraud, the determina tion by the Board of Directors as to the value of any property purchased or serV ices rendered shall besconclusive. e VI -s
 The highest amount of indebted ess or liability either direct or contingent to " hich this corporation is at any time to subject itself shall not exceed two thirds of the amount of it's capital stock; and the private property of the stock b bol ders of this corporation shall be exempt from the payment oi its corporate debts.
 VII f'.'-.
 The business affairs of this corpora tion shall be conducted by Board of Directors, consisting of not less than three, nor more than seven mem bers, each of whom shall be stock b older; {; and whenever any director ceases to be stock holder, he ball at the same time cease to be director. They shall be elected annually by the stock holders, at their regular annual meeting. which shall be held st the office of the cor poratiop in Nolales, Arizona. on the second Monday of October in each year, and shall hold their office until their successor Is elected and qualified, :, unless sooner removed by death, re- signstion or otherwise Any vacancy in the Board of Directors may be filled by the remaining members of the board by appointment from among the stock holders, and any director so appointed shall hold office until the next annual meeting of the stock holders. A major ity of the Board of Directors shall con- stitute quorum for the transaction Of
 The first Board of Directors shall consist of John Willis, John Hoy. W. H. McNulty, E.. R. Purdum. 2. J. Duffy. J. c. Thompson and J. L Schleimer. who shall continue to con- stitute the Board of Directors until the regular annual meeting of the stock- holders in October, 1921, unless sooner removed by death resignation or other wise. The Board of Directors shall have power and authority to adopt By Laws for the government of the corporation.
 VIII
 The officers of this corporation shall be president, vice. e-presid ent, secretary and treasurer, and such other officers or sgents as the Board of Directors may deem necessary for the purposes Of this corporation They shall be chosen by the Board of Directors and shall hold office during the life of the board by which they are elected, and until their successors are elected and qualified, unless sooner removed by re sign ation or by the vote of two third 8 of the Board Of Directors. Until the first annual meeting of the stockhold CTS in October. 1921, the officers of this corporation shall be: John Willis, Pre- sideut; John Hoy, Vice-P resident; w H. McNulty, Secretary and Treasurer. |. ..s Tx
 These Articles of Incorporation may be altered or amended and the capital stock may be increased or decreased at any regular meeting of the stockhold- CTS, or at any special meeting called for that purpose. by the affirmative vote Of the ma jority of the stock hold = call B meeting of the stockholders for this or any other purpose not contrary 10 law, but notice of such proposed meeting shall be given to each stock holder either personally or by writing, twenty days prior to the meeting at which the proposed amendment shall be voted upon. In Witness Whereof. we have here unto set our hands this I6tE day of November, A D. 1920.
 JOHN WILLIS
 JOHN HOY