The border vidette., 1922-04-29
ARTICLE III


 | proposed to he transacted bg this cor ] poratlon Is, 10 buy and otherwise ac i quire, own, sell. lease, hirc, ront, mort l gage, pledge, exchange, breed and gen. erslly deal in horses, mules, cattle, l sheep, goats, swine and any and all otht kinds or classes of livestock, and | livestock md farm products and by ! products; to buy and otherwise acq uire, own, lease, hire, rent, eli, mortgage, exchange. hypothecate 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. develope. sell and contract for mines and mining lands, mineral rig hts, oil ana gaS lands. treat ing plants, buildings and all property and machinery appurtenapt thereto: to buy and otherwise acquire, own. sell, mortgage. hvpothecate and other wise deal in all kinds of merchandise: nnin tain and conduct general merchan- dise stores. telephone and telegraph lines; t> carry on general packing house, cold storage and warehouse bus mess: to purchase, hold, sell, assign, transfer. mortgage. pledge and other wise dispose of shares of the capital stock Of. or any bonds, securities or evidences of indebted ness created by any other corporation or corporations: to incur debts and to loan, raise, bor- row and secure the payment of money ill any lawful manrer, including the executing of promissOry notes and is suance and sale or other disposition of bonds, warrants, debentures. obEga- tIons, negotiable and transferable in struments and other evidences of in debtedncss of all kinds whether secured by mortgage, pledge. decd of trust, or otherwise; to enter into, make perform and carry out contracts of every sort and kind; to acquire, own and hold such real and personal property as may be Eeceessary or convenient for the transaction of tte business of this cor poration; to sell and otherwise dispose of the same, for the purpose of attain ing or furtbering any of the objects Of this corporation, to do any and all other acts and things. and to exercise any and all power, which co partner ship or natural person could lawfully do and exercise, and which now or hereafter may be authorized by law. Provided however, the foregoing clauses and rfsitations Of objects shall be con strued both as objects and powers, but no restriction. expression CT declaration of specific or special powers or purposes herein enumerated shall ne decreed to be exclusive. but 1t is hereby expressly decIared that all other lawful powers not inconsistent herewith are hereby include ed.
 ARTICLE "
 The authorized capital stock Of this corporation shall be Three Hundred Thousand ($30O 0G0. 00) Dollars. divided into three hundred thousand 0.000) shares Of the par value Of One (Sl.00) Dollar each.
 Of said shares one hundred and fifty thousand (l50 00O) thereof shall be com mon, and one hundred and fifty thous- and U5O 000) thereof shall be preferred stock. The terms, conditioLs, limita ! tions and provisions upon which said preferred stock is 70 be issued are: CD The holders thereof shall be en- | titled to receive out of the net profits | of the corporation a fixed minimum l divided at the rate of eight per cent l IS per ceni) per annum, payable at such 1 periods as the directors may determine, ! before any dividend can be set apart or 1 paid on the common stock for the | period heretofore elapsed, and the 1 princip or par value of the said pre- l ferred stock, with accumulated eight | (S per cent) per cent dtvid ends shall be paid in full in preference to the com 1 mon stock, in the event of any iq uid a. tion Of the company whether through i insolvency or the termination Of it's corporate existence or otherwise. The l said eight per cent dividends on said preferred stock shall be cumulative, so that if for sny period or periods the same can not safely be paid the right | thereof shall accumulate as against the 1 common stock, and all arrears of said
 
 accum ulated must be raid before d!vid ends can be commenced or resumed on ] the common stock. In any year after pay yment of dividends at the rate of 1 eight per cent per annum on the pre- ! ferred stock, the holders of common stock shell be entitled to all profits ! distributed as dividends. up 10 ten per ! cent per anuum on their stock. ID any 1 calendar year when dividends az ggregat- 1 ing ten per cent shall have been paid i on the common stock, if any further ! dividends to be declared the sanle shall 1 be dist stributed pro-rata between the l common and preferred stock stock 1 holders.
 ! {2) The preferred stock is issued 10 and accepted by stock hoider upon the | express understanding. and the righ t 1 is hereby reserved to the stockholder of l this corporation, that these Articles of | incorporation may be amended in the manner provided by law for increase of preferred stock and the directors of this corporation may with the consent i of any holder Of preferred stock retire , tho sane
 (3l Said rreferi ed stock skall have | full voting power at all meetings Of ! stock holders to the same extent com ! mon stock
 i t4) At the option of the holder of 1 any Of said preferred stock. the same may at any time be exchanged for com-
 mon stock of an equal amount.
 At such time as the board Of direct ors, by resolution, shall direct said capital stock, common and preferred.
 shall be paid into this corporation either in cash or by sale or transfer to the corporation of real or personal proper 1 ty. contracts. leases, services. or any ! he~ ,l1,a I,ln ri, f,.r 1e;