The border vidette., 1932-06-11

or TRANSFERABLE umeHtS.
ii, To issue shares Of any class Of
the capital stock, bonds. deSentures,
debenturo stock, notes and other ubii
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 n!ng. or
in exchange for the stock debeatures,
debonture stock, bonds, securities or
obligations Q! any person, firm. asso-
citation. corporation or organization.
(k) TO acquire, buy. purchase, lease.
own, hold. sell, mortgage. encum Der or
otherwise Geal in both improved and
unimproved real estate wherever situ-
ate; to survey. subdivide. plat, colonize
and improve the same fpr the purpose
OF sale or otherwise, and to construct
and erect thereon works. plants stores,
houses, buildings or structures OF any
nature whatsoever.
() 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 ae lis
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 usa would
cause any impairment of the capital o;
this corporation. and provided. further,
that shares OF its own capital stock be-
longing TO 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. cx
change, lease or otherwise acquira, hold
and own, and to mortgage, sell convey,
let, or otherwise dispose of real and
personal property Of every class and
description. in auy state, territory, dis
trict, dependency or country, or subdi
vision or municipality thereof. subjact
to the laws thereof.
ARTICLE w
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 Ono 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 bo
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 B)ard 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, con tracts. 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 shall thereupon and thereby become
and be fully paid up and non
assessab!e, aud in the absence Of actua
fraud in the transaction. the jnd gment
of the directors as to the value OF the
property purchased shall be conclusive,
ARTICLEV
The time of the commencement Of
the corporation shall be the day these
Articles are fled 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
he conducted by a 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 ard
they shall be elected at the annual
meeting of the stockholders called and
held for that purpose, and upon such
notice and ct 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 Grst 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 and 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. sball be open to inspection of
stock holders, and no stock holder shall
have any right Of inspecting any &C
count. book 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 so pro-
vide, two or more OF its number 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
k;<,~ g.,