The border vidette., 1932-07-16


or transferable insGru nents.
&, To Issue shares Os sny class OK
the capital stock, bonds. aeSeniures,
debenturo stock, nosos aca o:her obli-
cations OF this corporation tur cash, Or
labor done, for property, rea! or per
sonal, for lsases thereof, or for any
| com bination Of nny OF the foreg ing, Or
in exchange for the stock debentures,
deben.ure stock, bonds. securities or
obligations OF apy pers0n, firm, assO-
| citation. corporation or organization.
tk) TO acquire, buy. pIrcha.e lease,
own, hold, sell. mor gage. encun ber or
otherwise ceal in both improved and
unimproved rea, estate wherever situ-
ate; to survey. snodiv dc, plat, co!onize
and improve the same s'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 ot its own tai
stock, bonds, debearures. deben'ure
! stock or other obligations from time to
time TO such al extent and IN such
| manner and upon such terms es is
! board of directors shah determine :
| povided that this corporation shah 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 at the capital o.:
| this corporation. and provided. further,
that shares Of its own capital stock be-.
| longing 10 this corporation shall not ha
voted uEon directly or Indirectly.
tm) To have one or more Offices; TO
carry on any or ali 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 suhdi
vision or municipality thereof. subject
| to the laws thereof.
ARTICLE w
The authorized amount Of capital
stock OF this corporation shall he One
Million Dollars (sl 600 600 0O), 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 In such
amounts and proportions as shall be
| determined by the board of directors
and as may be permitted by law, and
| when 80 issued, shall be deemed to be
| fully paid and non -assessable.
| At such time as the BJard of Direct
ors may by resolution direct, said capi-
tal stock shall be paid into this cor
porati0n, either in cash or by the sale
and tran 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 80 issu-
ed shall therenpon aud thereby become
and be fully paid up and non
asseesable, and in the absence OF actual
fraud in the transaction. the judgmen,
of the directors as to the value of the
property purchased shall be conclusive
ARTICLE v
I The time of the commencement Oi
| the corpora ton shall be the day these
| Articles are fled Ia accordance with
| law. and the termin alton thereof shall
| be twonty five years thereafter, with
| privilege of renewal as provided BY
statute
ARTICLE WI
The affairs OF this corporation shal
be cond uoted by a board of directors
and the following named persons shall
constitute the board of directors un
their successors are elected:
rhNfDC n rt,ETCy1NrN
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
| tion, and in the manner and subject tC
| 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 aud 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.
ARTICLE VII
The board of directors shall have
authority: To determine from time to
time whether and to what extent end
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
porstion except as conferred by statute.
ualess authorized by resolution of the
stock holders or directors.
To designate if the bylaws 80 pro.
vide. two or more OF its nun ber to
constitute an executive committee.
which committee 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 iu the
management of the business and affairs
Of this corporation and have power to