Nogales international., 1928-06-08

of by mortgage, pledge or other
wise upon alll or any part of the
property of the corporation.
! SO purchase, acquire, hold
and dispose of the stocks, bonds
and other evidences Of indebted
ness of any firm company or cor
poration, domestic or foreign, and
any interest or participation there
in, and issue in exchange there
for its stock, bonds or other obli-
cations, and while owner of any
such stock, bonds or other obliga-
tions, interest or participation, to
possess, vote and otherwise ex-
ercise in respect thereof all the
rights, powers and privileges of
individual owners or holders the
reof.
4.-To make any guarantee
respecting dividens. stocks, bonds,
contracts or other obligations 50
far as the same may be permitted
by corporations organized under
the corporation laws Of this State.
5.-To do all and everything
necessary, suitable and proper for
the accomplishment of any of the
purposes or the attainment of any
Of the objects or the furtherance
of any of the powers hereinbefore
set forth, or that the board of
directors may hereafter approve,
either alone or in association with
other corporations, firms, societies,
companies or individuals, and to
Go everv act, thing or things in
cidental or appurtenant to or
growing out of or connected with
the aforesaid business or powers
or any part or parts thereof, in
TIE United States of America and
its dependencies and territory, in
Mexico, or in any other foreign
country, providing the same be
not inconsistent with the laws un-
der which the corporation is or
gained.
ARTICLE v.
The authorized capital stock of
this corporation shall be ONE
HUNDRED THOUNSAND ($100,-
000.00) DOLLARS, divided into
Ten Thousand (10,O00) shares of
the par value of Ten Dollars
.($10.00) each. At such time as
the board of directors shall by re-
solution direct, the said capital
stock when subscribed for shall be
paid into this corporation, either
in cash, services or by the sale,
transfer CIR assignment to it of
personal property, property rights
or interests therein, real or per-
sonal, or other things of value, for
the use, benefit or purposes of this
corporation, and in payment for
which shares of the capital stock
of this corporation may be issued,
and in the absence of actual fraud
in the transaction, the Judgment
of the board of directors as to
the value of such services, real
or personal property, or other
things of values, shall be conclu-
sive, and the capital stock of this
corporation SO issued shall there
upon and thereby become and be
fully paid up and forever nom
assessable.
ARTICLE vi.
The time of the commencement
of this corporation shall be the
date on which the certificate of
incorporation shall be delivered to
said corporation by the Arizona
Corporation Commission, and the
termination thereof shall be twen-
ty five years thereafter, with the
privilege of renewal as by law
provided.
ARTICLE VII.
The affairs of this corporation
shall be conducted by board of
>directors of not less than three
(3) members and not more than
seven (7) members, and of such
officers as the board of directors
may elect OF, appoint; and until
privision shall be made otherwise
by the bylaws to be adopted bv
this corporation, the number of
the board of directors shall be
three (3). The following named
persons shall constitute and be the
board of directors for the first
corporate year and until their
successors are elected and have
qualified:
W. H. Tully
J. r. Galushas
F. W. Thompson
Hereafter the board of direc-
tors except in case of vacacies
shall be elected from among the
stockholders of the corporation at
the regular annual meeting of the
stockholders to be held on the
second Tuesday of July of each
year, beginning with the year
1929. The officers of the cor
poration shall consist of a Pres
ident, a Vice President, a Secreta-
rv and a Treasurer. The offices
of Secretary and Treasurer may
be held by the same person. Until