The border vidette., 1926-04-24

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.
%. 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 Of 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 Article
or of any other Article of this Certi-
ficate of Incorporation, 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,
objects and powers.
Article w.
The total number of shares author
lied of the Corporations capital
stock is fifteen million $4,000, ,000)
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 fol
such consideration as from time
to time may be fixed by
the Board cf 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 its
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 thi:
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 Ia
time may fix, pursuant to the author.
| ity hereby conferred by the Certifi
cate of Incorporation of this Corpor
alton, and the Board of Director:
may issue stock of this Corporation
or obligations convertible into stock
without offering such issue of stock
, either in whole Or in part, to the
stockholders Of this Corporation
The acceptance Of stock in this Cor
poration shall be a waiver of an,
suchpreemptive or preferential right
: which in the absence Of this provis
ion might otherwise be asserted By
Stockholders Of this Corporation ol
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, anc
; 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 Of Delaware.
Article V.
The number of shares with which
this Corporation will commence bust
ness is ten (10) shares without nom.
inal or par value.
Article vi.
The names and places of resi-
dcnceof each of the original sub.
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.
Renato Capocelli San Francisco, Cal.
w. F. Hillman San Francisco, Cal. 3
Article VII.
The Corporation shall have perre
tual evistcnce.
Article VIII.