The border vidette., 1926-05-29

value of its properties; and to have,
enjoy and exercise all the rights,
powers and privileges which are now
or which may hereafter be conferred
upon corporations organized under
the same statutes as this corpora
ton.
20. To conduct it's business Tin
Guiding the holding, purchasing, mort.
gaging, and conveying of real and
personal property in the State Of
Delaware, other States, the District
of Columbia, the territories, colonies
and possessions Of the United States
and in foreign countries; and to
maintain such offices either With.
or without the State of Delaware as
may be convenient; provided, how.
ever, that nothing herein contained
shall be deemed to authorize this
| Corporation to construct, hold, main
tain or operate within the State of
Delaware railroads, railways. telc-
graph or telephone lines, or to carry
on within said State any public utility
business.
| The foregoing clauses shall be
construed both as objects and powers;
and the foregoing enumeration of
specific powers shall not be held to
limit or restrict in any manner the
powers of the Corporation; and it is
the intention that the purposes, OBJ
jects and powers specified in each of
the paragraphs cf this Article Third
Of the Certificate of Incorporation
| shall, except as otherwise expressly
| provided, in no wise be limited or
restricted by reference to or infer
ence under the terms Of any other
clause or paragraph of this Arti-l
or of any other Article Of this Cert;.
ficate Of Ineorp ,ration, but that each
of the purposes, objects and powers
specified in this Article and each of
the Articles or paragraph of this
Certificate of Incorporation shall be
regarded as independent purposes,
i objects and powers.
Article w.
The total number of shares author.
lied of the Corporations capital
stock is fifteen million 5,O00,0O0)
and such shares are without nominal
or par value.
The shares Of capital stock of this
| Corporation, may be issued by this
| Corporation from time to time for
such consideration as from time
to time may be fixed by
the Board of Directors of this
Corporation; and all issued shares
of the Capital Stock of this
Corporation shall be deemed fully
paid and nonassessable and the hold
ers of such shares shall not be liable
hereunder to this Corporation or it's
creditors. No stockholder of this
Corporation shall have any preemp-
tive or preferential right of subscrip-
tion to any shares Of any stock of
this Corporation, or to any obliga-
tions convertible into stock of this
Corporation, issued or sold, nor any
right of subscription to any thereof
other than such, if any, as the Board
of Directors of this Corporation in
its discretion from time to time may
determine, and at such price as the
| Board of Directors from time to
time may fix, pursuant to the author
ity hereby conferred by the Certifi.
cate of Incorporation Of this Corpor-
alton, and the Board Of Directors
may issue stock of this Corporation,
or obligations convertible into stock,
without offering such issue of stock,
either in wholeNor in part, to the
stockholders of this Corporation.
The acceptance Of stock in this Cor
poration shall be waiver of any
suchpreemptive or preferential right
which in the absence of this provis-
ion might otherwise be asserted by
Stockholders Of this Corporation or
any of them.
This Corporation shall be entitled
to treat the person in whose name
any share is registered as the own
er thereof, for all purposes, and
shall not be bound to recognize any
equitable or other claim to, or inter-
est in, such share on the part of any
other person, whether or not the
Corporation shall have notice there
of, save as expressly provided by the
laws of the State cf Delaware.
Article V.
The number of shares with which
this Corporation will commence busi-
ness is ten (10) shares without NOM
inal or par value.
| Article vi.
The names and places of resi-
denceof each of the original SUBJ
scribers to the capital stock Of this
Corporation are as follows:
No. of Shares
of Stock
| Name Residence Subscribed.
F. T. Smith San Francisco, Cal A
Renato Capocelli San Francisco, Cal. 8
w. F. Hillman San Francisco, Cal. 8
Article VII.
The Corporation shall have perre
| tual existence.
Article VIII.