The border vidette., 1921-01-08

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 subscrip-'
 tions to the capital stock shall be paid for eitEer 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 accessible, 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 services rendered shall be conclusive. 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 of it's ca pital | stock; and the private property of the
 stock b o'ders of this corporation shall be exempt from the paym ment of it's corporate debts The business affairs of this corpora- ton shall be conducted by Q Board of Directors, consisting of not less than three. nor more than seven mem bers, each of whom shall be Q stock b olde and whenever any director ceases to be l a etock kholder. he shall at the same time cease to be a 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 NoRales, 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-. signation or otherwise. Any vacancy | in the Board of Directors may be. filled I by the remaining members of the board | by appointments from among the stock holders, and any director so appointed
 shall hold office until the next annual meeting Of the stock holders. A major | tty of the Board of Directors shall con-
 stitute quorum for the transaction of | business. The first Board of Directors shall | consist of John Willis, John Hoy, ". l H. McNulty, E. R. Purdum, E. J. Duffy, J. O. Thompson and J. L 1 Schleimer, who shall continue to con. 1 stitute the Board of Directors until the I regular. annual. meeting of the stock. | OOlO0IS iu OCLOOOr, 1SZl, u0l6e6 sooner 1 removed by death h.resignation or other wise. The, Board of Directors shall have power and authority to adopt By Laws l for tho government of the corporation. | VIII
 1 The officers of this corporation shall
 be president, vice. -presid ent. secretary
 and treasurer, and such other officers,
 or agents as the Board of Directors l may deem necessary for the purposes 1 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 1 until their successors are elected and | qualified, unless sooner removed by re | signation or by the vote of two thirds
 of the Board of Directors. Until the l first annual meeting Of the stockhold-
 CTS in October. 1921, the officers of this
 corporation shall be: John Willis, Pre- sLdent; John Hoy, Vice-President; w :. H. mcNulty, Secretary and Treasurer.
 These Articles of Incorporation may be altered or amended and the capital | stock may be increased or decrensed at I any regular meeting of the stockhofd- | CTS, or at any special meeting called vote of the majority of the stock hold l CTS, and the Board of Directors may
 call a meeting of the stockholders for l this or any other purpose not contrary | to law, but notice. of such proposed l 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 l be voted upon. In Witness Whereof. we have here- l unto set ,onr hands this. 18th day of l November, A D. 1920.
 1 JOHN WILLIS
 JOHN HOY | "