The border vidette., 1932-06-18

or transferable Instruments.
q, To issue shares of any class Of
the capital stock, bonds, dahenturcs,
debenture stock, notes and other obi.
cations OF this corporation for cash, or
labor done, for property, resi- or per
sonal, for leases thereof or FOR "ny
combination OF any OF the foreg alng. or
in exchange for the stock, debentures,
debenture stock, bDnd;. securities or
obligations Of any person. firm, asso-
citation, corporation or organization.
(k) TO acquire, buy, purchase, lease.
own. hO.d, sell, mortgage, cucumber Or
otherwise 6eal in both improved and
unimproved real estate wherever situ-
ate; TO survey, subdivide, plat, colonize
and improve the same for the purpose
OF salo or otherwise, and to construct
and erect thereon works, plants stores,
houses, buildings or structures OF any
nature whatsoever.
(D To purchase, hold, SELL 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 its
board Of directors shall determine;
povided that this corporation shall 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 OF the capital o:
this corporation. and provided. IN, ther,
that shares Of its own capital stock be-
longing TO this corporation shal! not }a
voted upon directly or indirectly.
(m) To have one or more Offices; to
carry on any or all Of its operations
and businesses; and without restriction
or limit as to amount, to purchase. OK
change, lease or otherwise acquire, hold
and own. and to mortgage. sell. convey,
let, or otherwise dispose OF real and
personal property OF every class and
description. In any state, territory, dis
trict, dependency or country, or subdi
vision or municipality thereof, subject
to the laws thereof.
ARTICLE Nv
The authorized amount OF capital
stock of this corporation shall be One
Million Dollars (Sl coo coo OO), divided
into ten thousand 100000 shares of the
par value of One Hundred Dollars
(Sl00.00) 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 ba
determined by the board OF directors
and as may be permitted by law, and
when SO issued, shall be deemed to be
fully paid and non assessable.
At such time as the Board Of Direct
ors may by resolution direct, said CAPT
tai stock shall be paid into this cor.
poratiOn, either in cash or by the sale
and tran sfer 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-
cd shall tbereupon and thereby become
and be fully paid up and non
assessable, and in the absence OF actual
fraud in the transaction. the jud dgment
OF the directors as to the value of the
property purchased shall be conclusive, 4,
ARTICLEV
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 shall
be conducted 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
equired to constitute the board there
of may 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 aud place as
may be provided in by the by laws
then in force
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
| year.
ARTICLE VII
The board of directors shall have
authority: To determine from time to
time whether aud to what extent and
at what times and places and under
what conditions and regulations the
accounts and books of this corporation
(other than the stock ledger or any OF
them, shall be open to inspection OF
stock holders, aud no stock holder shall
have any right Of Inspecting any &c
count book or document OF this COR
poraton except as conferred by statute
naless authorized By resolution of the
stock holders or directors.
To designate if tho bylaws 40 pro-
vide. two or more Of its nun ber to
constitute an executive committee,
which com mittee shall for the time be.
ing, as provided in said resolution, or
in the bylaws Of this corporation,
have and exercise any or all Of the
powers OF the board OF directors in the
management of the business and affairs
Of this corporation and have power to