The border vidette., 1932-04-30


cations of this corporation for cash, or
labor done, for property. real or per
sonal, for leases thereof, or for any
com binstion of any Of the foregoing, or
in exchange for the stock, debentures,
debenture stock, bonds, securities or
obligations of any person, firm, asso.
citation. corporation or organization.
~ 10 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 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 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 it's own
capital stock when such use would
cause any impairment of the capital OF
this corporation. end 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
and 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
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, SUBJ
leased or acquired.
fo) 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 as 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 furtherance Of and
in addition to ard 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 bs One
Million Dollars ISL 600 600 COY. divided
into ten thousand 100000 shares of the
par value Of One Hundred Dollars
(S100.00) 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 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 B bard 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 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
assessable, 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 V
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.
AhIlCLE vi
The affairs of this corporation shall
be cond ucted 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, 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
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