The border vidette., 1932-07-09

or transferable Instruments.
Il, To issue shares OF any Class OF
the capital stock. bonds. dehentures,
debenturc stock, notes and 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 foregoing, or
in exchange for the stock deOentures,
debenture stock, bonds, securities or
obligations OF any person, hcm, assoc
citation, corporation or organization.
(k) TO acquire, buy. purchase, lease.
own. hold, sell, NOR gage, encum Der or
otherwise ceal in both improved and
unimproved real estate wherever stu
ate; to survey. subdiv de. plat, oolonize
and improve the same fDr the purpose
OF sale or otherwise, and to construct
and erect thereon works, plants stores,
houses, buildings or structures Of any
nature whatsoever.
CD 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 shalt determine;
povidcd 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 wonld
cause any impairment ot 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
tm) To have one or more offices; to
carry on any or all of its operations
aud businesses; and without restriction
or limit as to amount. to purchase, ex-
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
ARTICLE Nv
The authorized amount of capital
stock of this corporation shall ba One
Million Dollars Isl O00CO0 COY, divided
into ten thousand (l0,0 ,000j shares Of the
par value of One Hundred Dollars
(Sl00.0 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 rs 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 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 pay ment for which shares Of the
ca pital 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
assessable, and in the absence OF actual
fraud in the transaction, the judgment
Of the directors SIS to the value OF the
property purchased shall be conclusive,
ARTICLE v
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
required 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 tho 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, shall 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.
u1less authorized by resolution of the
otOck holders or directors.
To designate if the bylaws 80 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
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