The border vidette., 1922-04-15
ARTICLE III

i quire own, sell, lease, hire, rent. mort | gage, pledge, exchange, breed and gen. l erslly deal in horses, mules, cattle, i sheep, goats. swine and any and ali l otht kinds or classes of livestock, and ! livestock and farm products and by products; to buy and otherwise acquire, own, lease, hire, rent, sal!, mortgage, exchange, hypothccate and otherwise deal in farming, grazing and other lands, town and city lots. and ease ments, water and water-rights; to buy and otherwise acquire, own. exchange, lease, work, locate. develnpe. soil and i contract for mines and mining lands, mineral rights, oil anu gas lands, treat ing plants, buildings and all property and mach nery appurtenant thereto: to bay and otherwise acquire. own. cell, mortgage, bypothecate and othct- wise deal in all kinds of merchandise; maintain and conduct general merchan- disc stores. telephone and telegraph
 lines; t. carry on general packing house. cold storage ard warehouse bus mess: to purchase, hold, sell, assign, transfer. mortgage. pledge and other wise dispose Of shares of the ca pital stock or, or any bonds securities or evidences Of indebted ness created by any other corporation corporations; to incur debts and to loan, raise, bor- row and secure the payment of money in any lawful manper, including the executing of promissory notes and is EuRnCo ana SHls or pJDSr OlSpOSitlOn Ol bonds, warrants, debentures, obliga- tIons, negotiable and transferable in struments and other evid ences Of in debtedness of all kinds whether secured by mortgage, pledge, deed of trust, or otherwise; to enter into, make perform and carry ont contracts of every sort and kind; to acquire, own and hold such real and personal property as may be neceassary or convenient for the transaction cf tte business of this cor poration; to sell and otherwise dispose of the sal me, for the purpose of attain ing or furthering any of the objects Of this corporation. to do any and all other acts and things, and to exercise any and all power, VI hich co partner ship or natural person could lawfully do epd exercise, and which now or hereafter may be authorized by law. Provided however, Inc foregoing clauses and resitations Of objects shsll be con strued both ns objects and powers, but no restriction, expression or declaration of specific or special powers or purposes herein enumerated shall oe decreed to be exclusive, but it Is hereby expressly q declared that all other lawful powers not inconsistent herewith are hereby ! ipclude led.
 ARTICLE IV
 The authorized capital stock of this corporation shall be Three Hundred 1 Thousand $500 0C0. 00) Dollars, divided into three hundred thousand (3C0,G0 ! shares of the par value Of One (Sl.00) Dollar each.
 Of said sh ares one hundred and fifty thousand (I5O 0OOj thereof shall be com mon, and one hundred and fifty thous- and (l50 000l thereof shall be preferred stock. The terms, conditions, limita a 1 lions and provisions upon which said 1 preferred stock is to be issued are: CD The holder thereof shall be en- 1 titled to receive out of the net profits | of the corporation a fixed minim m divided at the rate of eight per cent | IS per cent) per annum, payable at such 1 periods the directors may determine,
 before any dividend can be set apart or paid the common stork for the | period heretofore elapsed, and the l principal or par value of the said pre- l ferred stock, with accumulated eigh t 1 IS per ceut) per cent dividends shall be i paid in full in preference to the com
 mon stock, in the event of any liquid a.
 tion Of the company whether throug b 1 insolvency or the termination of it's corporate existence or otherwise. The said eight per ceat dividends on said that if for any period or periods the same can not safely be paid the right | thereof shall accumulate as against the
 common stock, and all arrears of said
 dividends on said preferred stock so
 accum ulated must be paid before divid-
 
 the common stock. In any year after pay ment of dividends at the rate of
 eight per cent per annum on the pre- ferred stock, the holders of common
 stock shall be entitled to all profits
 distributed as dividends. up to ten per ! cent per anuum on their stock. In any calendar year when dividends aggregat- 1 ing ten per cent shall have been paid on the common stock, if any further dividends to bo declared the same shall be dist tributed prO-rata between the ! common and preferred stock stock l holders.
 @ Tho preferred stock is issued 10 1 and accepted by stock h old CTS upon the
 express understanding, and the right Is hereby reserved to the stock holder of this corporation, that these Articles of Incorporation may be amended in the
 manner provided by law for increase of | preferred stock and the directors oi this corporation may with the consent /, Of any holder Of preferred stock retire l the sane.
 (3) Said preferl ed stock shall have | full voting power at all meetings of , etcck holders to the same extent as com /, mon stock
 l CD At the option of the holder of
 any Of said preferred stock. the same
 may at any time be exchanged for com.
 mon stock Of an equal amount.
 1 At such time as the board of direct ! ors, by resolution, shall direct said 1 capital stock, common and preferred, shall be paid into this corporation either in cash or by sale or transfer to the ty. contracts, leases, services, or any ISNtI he. lTrn l,ll irrh f1n