The border vidette., 1920-12-25

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 Tor 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 O0) dollar per share At such time and under such conditions as the Board of Directors may determine subscrip 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 rom dered on behelf of the corporation, and said stock when issued shall be fully paid and non asSessibie, and In the ab- senca of actual fraud, the deterElins- tion by the Bosrd of Directors as to the value of any property purchased or sers ices rende ed shall be conclusive.
 VT
 The highest amount of indebtedness 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
 
 be exempt from the payment oi its corporate debts.
 VII
 The bueiness affairs of this corpora tion shall be conducted by Soard of Directors, consisting of not less than three, nor more tbau seven mem berS, each Of vi hom shall be e stock b old CT; and whenever any director ceases to be a stock holder, he shall 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 at the office of the cor poration in NoSales, Arizona. oo 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- signatiOn or otherwise Any vacancy iu the Board of Directors may be filled by the msining mem bers 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 i stitute a quorum for the transaction of business.
 The first Board of Directors shall consist of John Willis, John Hoy, W. H. McHulty, E K. Purdum. F J. l Duffy, J. c. Thompson and J. L 1 SchIeimer, who shall continue to con-
 
 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 1 power and authority to edop. By Laws l for the government Of the corporation. 1 VIII
 1 The officers of this corporation shall | be president, vice-presid ent. secretary l and treasurer, and such other officers, or agents es 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 | signatfon or by tho vote of two thirGs l of the Board of Directors. Until the CTS in October. 1921, the officers of this corporation shalt be: John Willis, Pre-. sldent; John Hoy, Vice-Presideut; W H. McHnlty, Secretary and Treasurer. l .-. TX
 These Articles of Incorporation may be altered or amended and the capita stock may be increased or decreased al any regular meeting of the stockhold CTS, or at any special meeting called for that purpose, by the affirmative vote of the majority of the stock hold CTS. and Che Board of Directors may call meeting Of the stockholders fol this or any other purpose not contrary to 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 a which the proposed amendment shal be voted upon.
 In Witness Whereof. we have here unto set our hands this 18th day O November A D. 1920.
 1 JOHN WILLIS | JOHN HOY