The border vidette., 1932-05-21

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labor done, for property, real or psr
sonal, for leases thereof, or for any
com bination of any OF the foreg )lnx, or
in exchange for the stock debentures,
debenture stock, b,nd'. securities or
obligations Of any person, firm, assO.
citation, corporation or organization.
(kl TO acquire, bny. purchase, lease,
| own. hold, sell, mortgage, encumber or
otherwise 6eal in both improved and
| unimproved real estate wherever stu
ate; to survey, subdiv!de, plat, colonize
and improve the same f,r the purpose
| OF sale or otherwise, and to construct
| and erect thereon works, plants. stores,
| houses, buildings or structures OF any
nature whatsoever.
ID To purchase, hold, cell, exchange
or transfer shares OF its own capital
stock, bonds, debentures. debenture
stock or other obligations from time to
| time to such an extent and in such
manner and upon such terms as It's
board Of directors shall determine;
povided that this cOrporation ahall not
| use any OF the funds or the property
| for the purchase Of shares OF its own
capital stock when such use would
cause any impairment al the capital OF
this corporation. end provided. further,
that shares of its own capital stock be-
| longing TO this corporation shall not he
| voted upon directly or indirectly.
tm) To ha7e one or moro offices; to
carry on any or all OF it's operations
and businesses; and without restriction
or limit as to amount. to purchase, ox
change, lease or otherwise acquire. bold
and own, and to mortgage, sell. convey,
| let. or otherwise dispose OF real and
personal property OF evovy class and
| description, in auy state. territory, dis.
trict, dependency or country, or subdi
vision or municipality thereof, subject
to the laws thereof.
(n) To purchase, hold. sell exchange.
lease, suitcase and assign any interest
in real estate for oil purposes. To drill
thereon for oil, or to contract for and
obtain other corporations, partnerships
or individuals to drill upon said real
estate so purchased, held, leased, sub
leased or acquired
l. fo) To carry on mercantile, manu-
featuring, livestock commission broker
age. oil refining. oil producing and I/or
other businesses, either in connection
with Or separate and apart from the
! foregoing, and TO have Hnd exercise
| laws OF Arizona upon corporations
| formed under the act hereinafter re-
| ferred to, and to do any and all of the
things herein before set forth to the
same extent as natural persons might
or could do.
The foregoing clauses shall be con-
strued both as objsc:s and powers; and
it Is hereby expressly provided that the
| NP
ers shall not be held TO limit or restrict
in any manner the powers of this COR
poratiou, but are in furtherance of and
in addition to ard not in Limitation of
the general powers conferred by the
laws of the State Of Arizona.
ARTICLE Nv
The authorized amount of capital
stock of this corporation shall be One
Million Dollars ISL 600 600 00), divided
into ten thousand 100000 shares of the
par value OF One Hundred Dollars
(S1O0.OO) each.
From time TO time the capital stock
| may be increased or decreased accord :
ing to law, and may be issued In such
amounts and proportions as shall be
determined by the board of directors
| and as may be permitted by law, and
when 80 issued, shall be deemed to be
fully paid and non -assessRble.
Al such time as the Board of Direct
ors may by resolution direct, said capi-
tai stock shall be paid into this cor.
poration, either in cash or by the sale
| and transfer to it of real or personal
property. contracts. services or any
other valuable right or thing for the
uses and purposes of said corporation
in payment for which shares Of the
capital stock OF said corporation may
be issued and the capital stock so issu.
ed shali thereupon and thereby become
and be fully paid up and non
| asseesable, and in the absence Of actual
fraud in the transaction. the Judgment
| of the directors as to the value OF the
| property purchased shall be conclusive, /,
ARTICLE
The time OF the commencement OF
the corporation shall be the day these
Articles are filed In accordance with
law, and the termination thereof shall
be twenty five years thereafter. with
| privilege OF renewal as provided by
| statute
ARTICLE vi
The affairs of this corporation shal!
he cond ucted by board OF directors
and the following named persons shall
constitute the board OF directors until
their successors are elected:
JAMES E. CREIGHTON,
WAYNE HUBBS,
J. NORRIS.
Hereafter the number of directors
| required to constitute the board there.
| of lnay be altered and fixed from time
to time by the bylaws of the corpora
ton, and in the manner and subject to
| the limitations therein prescribed. and
| they shall be elected at the annual
| meeting of the stockholders called and
held for that purpose, and upon such
| notice and at such time and place as
may be provided in by the by laws
| then in fOrca
The annual meeting for the election
OF directors shall be first held On the
third Monday Of the month of January
of the year 1888, and thereafter on the
corresponding day of each calendar