The border vidette., 1923-11-03

ooly VI OOufOHi0uJ Iii transporting anu
handling property of this corporation;
To build, operate and own, sell or
otherwise dispose OF railway 6, ,tramways,
turnpikes and canals necessary or con.
venient for transporting ores, minerals,
chemicals or mining products frcm the
property OF this corporation to any
pubic highway;
To purchase, develop and otherwise
acquire, own or store, sell and otherwise
dispose Of water, water rights pumping
plants and ditches fumes AID pipe lines
or other cOnd uits for cond uoting water;
10 purchase and otherw wise acquire,
own or develop. manage, operate, gen.
crate, store, sell and otherwise dispose
OF electricity for the purposes of heat,
light and power;
70 purchase, lease, own AMI other
wise acquire and to sell, let and hypo.
thecate or otherwise dispose of all kinds
OF personal property;
To purchase, su bscribe for, or other.
wise acquire, own, hold and sell or
otherwise dispose Of stocks, bonds and
securities OF other corporations, and of
this corporation;
To establish and carry on agencies. Of.
fees. warehouses. factories. mills, hoists,
shops, or other necessary or convenient
places of business and to sell articles
and products produced by itself or
other persons or corporations in the
State of Arizona, ard other States of
the United States and foreign countries;
TO purchase, lease, or otherwise ac-
quire, own, hold and to sell, let, mort
gage or otherwise dispose of real prop
erty and develop, manage, operate and
improve land mi sites. towns and
townsites. and land sub divisions;
To purchase, lease or otherwise &C.
quire. either in the United States or in
foreign countries, and to own, hold or
to sell or otherwise dispose of or hypo.
thecate ranches, ranch and range lands,
| and real estate OF every description and
to buy, breed, sell and handle cattle
and other live stock and the products
thereof;
To loan and to borrow money, and
execute. indorse, guarantee the pay
ment OF, hold. own, sell or otherwise
dispose OF bonds, notes and other evid-
| ence OF Indebtedness; and to dc any act
or thing necessary, proper or conven-
lent. for the prosecution or carrying out
of the purposes hereinbefore mention
ed. for the carrying on of general
mining. milling and (or) smelling busi-
ness, and the subdividing and selling of
lands. mill sites and townsites, and the
| construction and building OF roads,
streets, alleys, and other improvements
thereon, and generally to do and per-
form all acts aud things which are
legal and proper for natural person
or persons to do. and which may be
| conducive to or expedient or necessary
in the carrying out of the business of
this corporation: 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 corpora.
ttion.
The Capital Stock Of this corporation
shall be one million two hundred and
fifty thousand shares of the par value
OF fifty (50c) cents per share; at such
time and under such conditions as the
Board of Directors may determine,
subscriptions 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 SER
vices rende ced on behalf of the corpor-
alton; and said stock when issued shall
be fully paid and non assessa BILE, and
in the absence of actual fraud the de.
termination by the Board of Directors
as to the value of any property pur-
chased or services rendered shall be
conclusive.
VI
The highest amount of indebtedness
or liza biity either direct or contingent
to which this corporation is at any
time to subject itself shall not exceed
twO-thlrds of the amount of it's capital
stock; and the private property of the
stockholders of this corporation shall
be exempt from the payment of it's
corporate debts.
The business affairs OF this corpora
tion shall be conducted by a Board of
Directors, consisting of not less than
three, nor more than sev en- members.
each of whom shall be stock holder;
and whenever any director ceases to be
stock holder be shall at the same time
cease to be 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 Nogales. Arizona, on the
second Monday OF September 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
by the remaining members of the Board
of Directors by appointment from
among the stockholders, and any di-
rector SO appointed shall hold Office
until the next annual meeting of the
stockholders. A majority of the Board
of Directors shall constitute quorum
for the transaction of business
The first Board of Directors shall
consist OF Mrs. Katie Hoy. James V.
Robins. ). G. Kenney. John A. Ryan,
John Hoy, Frank J. Duffy and Dan A.
Mckenzie, who shall constitute the
Board of Directors until the regular
annual meeting of the ckholders in
September, 1924. unless sooner removed
by death, resignation Or otherwise.
The Board of Directors shall have power
and authority to adODt bylaws for the