The border vidette., 1932-05-07

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 olug, or
in exchange for the stock, deheuturcs,
debenture stock, b3nd,, securities Or
obligations of any person., firm, asso-
citation, corporation or organization.
(k) TO acquire, buy. purchase, lease,
own, hold, sell, mortgage, encumber Or
otherwise deal in both improved and
unimproved real estate wherever situ-
ate; to survey. subdiv;de, plat, oolonize
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.
| (D To purchase, hold, sell, exchange
or transfer shares of it's 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 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.
lm) 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, 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.
(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
(o) To carry on mercantile. manu
featuring, livestock commission, broker
age. oil refining. oil producing and /or
other businesses, either in connection
with or separate and apart from the
foregoing, and to have and exercise
all the powers conferred by the
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 IS natural persons might
or could do.
The foregoing clauses shall be con-
strued both as objects and powers; and
it is hereby expressly provided that the
foregoing enumeration OF specific pow.
ers shall not be held to limit or restrict
in any manner the powers Of this COR
pOration, but are in fartherance OF and
in addition to AID 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 600 900 O0), 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 Ia 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 assesssble.
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 ia 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 80 issu-
ed shall 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 ara filed in accord ance 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
he 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 quired 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
OF the year 1888, and thereafter on the
corresponding day OF each calendar
year.