The border vidette., 1921-01-01

tion; all of which business may be carried on at such place or places, either in the United States or in foreign
 countries, ss the Board of Directors may at any time determine to be for
 tho best interests of the corporation.
 Tine ca apital stock of this corporation
 shall be ono 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 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- assesstble, and In the ab- sence Of actual fraud, tho determiD2- tion by the Board of Directors as to the value of sny property purchased or sers ices rendered shall be conclusive. VI
 The highest amount of indebted ess
 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 capital stock; and the private property of the stock olders of this corporation shall
 be exempt from the payment of it's corporate debts.
 The business affairs ot this eorpora- l tion shall be conducted by S0ard of Directors, consisting of not less than three, nor more than seven mem bers, each of whom shall be . stock old CT {; | and whenever any director ceases to be 0 stock holder, be shall at the same time ! cease to be director. They shall be | elected annually by the stock holders, khn1 Inv, | shall oe held at the office Of the cor poretion in Nogales, A rizons, on the
 second Monday of October in each year, and shall hold tseir office until | their successor la elected and qualified. !. | unless sooner removed by death, re- l sign stion 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
 stitute quorum for the transaction Of 1 business.
 The first Board of Directors shall
 consist of John Willis, John Hoy. ".
 H; bntS Hcspl'y; E; T,dn R. p%rd.%I una F. J. 1 Schieimer. who shall continue to con
 stitute the Board of Directors until the 1 regular annual meeting of tho stock | holders in October, 1921, unless sooner 1 removed by. death. .resi gDatiOp or other
 wise. The Bosrd of Directors shall have | power and suthorit. to adopt By Laws l for the government Of the corporation, 1 VIII
 l The officers of this corporation shall l be a president, vice. presid ent, secretar ry | and treasurer, and such other officers, l or agents as the Board of Directors
 may deem necessary for the purposes i of this corporation. They shall be ! chosen by the Board of Directors and l 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 l signation or by the vote of two third l of the Board of Directors. Until the
 first annual meeting Of the stockhold- corporation shall be: John Willis, Pre-
 sldent; John Hoy, Vice President; W | H. McNulty, Secretary and Treasurer 1 ..- TX These Articles Of Incorporation may be altered or amended and the capita | stock may be increased or decreased ai | any regular meeting of the stockhold | CTS, or at any special meeting called | Tor that purpose, by the affirmative
 vote of the majority of the stock hold CTS. and the Board of Directors may l call meeting of the stock holders for l 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 al l which the proposed amendment shall 1 be voted upon.
 In Witness Whereof. we have here 1 unto set our hands this 16tE day oi l Novem Der, A D. 1920.
 1 .--- JOHN WILLIS --. [