The border vidette., 1932-10-08

| promissory notes, bills OF exchange
drafts. warrants and all kinds Of oh!l,
cations and certificates and negotiable
| or transferable instruments.
ii, TO issue shares Of any class of
the capital stock. bonds. dehen,ures,
dehenture stock, notes aud other obi.
| cations of this corporation for cash, or
labor done, for property, real or per
sonal, for leases thereof, or for any
com bination of any OF the foreg ,lng, or
| in exchange for the stock, debentures,
debenture stock, bonds, securities Or
obligations Of any person, firm, ASSOC
cistlon. corporation or organization.
(k) TO acquire, buy. purchase, lease,
own. hold, sell, mortgage, cucumber or
otherwise deal in both improved and
unimproved real estate wherever stu
ate; to survey, subdivide, plat, coloniZe
and improve the same FOR the purpose
of sale or otherwise, and to construct
and erect thereon works, plants. stores,
houses, buildings or structures OF any
nature whatsoever.
| (l) 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 tho purchase Of shares OF its own
capital stock when such use would
cause any impairment OF the capital OF
this corporation, and provided. further,
that shares Of its own capital stock be-
longing 10 this corporation shall not he
voted upon directly or indirectly.
tiny To have one or more 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, hold
and own, and to mortgage, sell. convey,
| let, or otherwise dispose of real and
personal property of every class and
description. n any state, territory, dis
| trict, dependency or country, or suhdi
| 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 Isl 600 coo COY. divided
into ten thousand N0,0O0) shares Of the
par value of One Hundred Dollars
($lO0.00) each.
From time to time the capital stock
may be increased or decreased accord
ing to law, and may bo issued in such
amounts and proportions as shall be
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 capi-
tai stock shall be paid into this cor
poration, either in cash or by the sale
and trans 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 thereupon and thereby become
and be fully paid up and non
assessab!e and IN the absence ot actual
fraud in the transaction. the Judgment
of the directors as to the value OF the
property purchased shall be conclusive,
ARTICLE v
Tho 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
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
req uired 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 and 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
vi tU0 odE 1900, dHu CuSI cnI tCt OI UIlO
corresponding day of each calendar
year.
ARTICLE VII
The board of directors shall have
authority: 70 determine from time to
time whether and to what extent and
at what times and places and under
what conditions and equations the
accounts and books Of this corporation
(other than the stock edger) or any Of
them. shal! be open to inspection OF
stock holders, and no stock holder shall
bavo any right Of inspecting any &C
count, hook or document Of this cor
poration except as conferred by statute.
| unless authorized by resolution OF the
stock holders or directors.
To designate if the bylaws 80 pro.
vide, two Or more of its number to
constitute an executive committee.
which com m;ttee shall for the time be
ing, as provided in said resolution, OF
in the bylaws of this corporation.
have and exercise any or all Of the
| powera nf Tho hoard Of directors in the