The border vidette., 1923-04-07

corporations, as we'll as shares OF its
own capital stock. including the right
to vote thereon; to issue bonds and
other obligations, and to secure the
same by pledging or mortgaglng the
whole or any part of the property own
ed by the corporation, and TO sell or
pledge such bonds in conducting the
corporate business.
ARTICLE v
The amount OF the capital stock of
the corporation is Twenty Five Thous.
and ($25. 600 O0) Dollars, divided into
Two Hundred Fifty t250) shares Of the
par value OF One Hundred tSl00.0O
Dollars each. The capital stock shall
be issued at such times as the Board of
Directors may decide upon. Said cap.
ital stock shall be paid into the tress.
nry of the corporation, either in cash.
or by the sale and transfer to it OF real
or personal property, contracts, SER
vices, or any other valuable right or
thing for the use and purposes of said
corporation, in paymen for which
shares of the capital stock OF the cor
pOration may be issued, and the capital
stock SO issned shall thereupon and
thereby become and be fully paid and
non -assessable forever. and. in the alb
sence of actual fraud in the transact
tion. the judgment of the Board of
Directors as to the value Of the proper.
ty purchased shall be conclusive.
ARTICLE VI
The time of the commencement of
this corporation shall be at the date of
the fling OF q certified copy of these
Articles OF Incorporation in the Office
Of the Corporation Commission of Ari-
2ona, and the Termination thereof shall
be twenty. five (25) years thereafter,
with the privilege of renewal a. pro-
vided by law
ARTICLE VII
The affairs of this corporation shall
be conducted by Board of Directors
composed OF not less than three, nor
more than seven stockholders. Said
directors shall be elected at the annual
meetings OF the stockholders and shall
serve for one year and until their sue
cessors are elected and qualified. The
annual meeting OF the stockholders
shall be held at such place and hour ae
may be prescribed by the bylaws of
the corporation on the fret Monday in
April OF each year. Special meetings
may be held in such manner as may be
prescribed by the bylaws of the cor
poration. Until the first annual meet
ing, and until their successors are elect
ed and qualified, the following named
persons shall constitute the Board of
Directors:
GUILLERMO MASCARENAS,
MARIANA PAEAZUELOS,
L. B. FLEISCHER.
1t at any time vacancy in the Board
OF Directors shall occur, such vacancy
may be filled by the remaining men,
bers OF the Board Of Directors IN Office,
and the person so elected to fill the
vacancy shall serve during the unex-
pired term of his predecessor, and until
his successor is elected and qualified
The powers and duties of the Board Of
Directors shall be as provided in the
bylaws OF the corporation. The Board
of Directors shall have power to adopt
and amend the by laws of the corpora
tiOn.
ARTICLE VIII
The officers of this corporation shall
be President, Secretary and Treas.
Secretary and Treasurer may be filled
ficers shall be elected by the Board of
Directors immediately after each an
nual meeting of the stock holders of the
corporation, and shall hold Office for
one year, and until their successors are
elected and qualified. Additional of.
fees may be created by the stockhold-.
ers. and filed by election or appoint.
ment, as the bylaws may provide
Until the first annual meeting of the
stockholders, and until their successors
are elected and qualified, Guillermo
Mascarenss shall be President and Ma.
riano Palazuelos shall be Secretary and
Treasurer and L. B. Fleischer shall be
Manager.
ARTICLE TX
The highest amount Of indebtedness
or liza ability. direct or contingent, to
which the corporation shall at any time
subject itself shall be Sixteen Thousand
Six Hundred Sixty. Six and Two Thirds
(S16, 666 3 Dollars.
ARTICLE K
The private property of the stock
holders of the corporation shall be
forever exempt for corporate debts.
ARTICLE XI
At any annual meeting of the stock
holders. or at any special meeting of
the stockholders called for that pur-
pose, these Articles of Incorporation
may be amended by the affirmative
vote of q majority of the shares of the
capital stock issued and outstanding
upon notice given as required by law.
ARTICLE XIII
Leslie c. Hardy. who hab been re-
sident of the State of Arlzopa for three
years last past. and who is now re-
sident of the city OF Nogales, Arizona,
is hereby appointed the agent of this
corporation. upon whom sll legal no.
tices and processes, including service
Of summons, may be served.
In Witness Whereof. we have here