The border vidette., 1932-07-23

discount, guarantee, execnte and issue
promissory notes, bills of exchange.
drafts. warrants and all kinds of obi.
cations aud certihcates and negotiable
or transferable Instruments.
(k To ISSUE sharea of any c'ss7 of
the capital stock, bonds, dehenfures,
dehenturc stock, notes and other obli
cations OF this corporation for cash, or
labor done, for property, roal or per
sonal, for leases thereof, or Tor any
com binAtion OF any OF the foreg ,luR, or
in exchange for the stock debontures,
debenture stock, binds, securities or
obligations OF any person. linn. asso-
citation. corporation or organization.
(k TO acquire, huy. purchase, lease.
| own, hold, sell. NOR gage. cucumber or
otherwise deal in both improved and
uninproVed real estate wherever eitu :
ate; TO survey, subdiv,de. pat, coioni2e
and improve the same for the pnrpOre
OF aaie or otherwise, and to construct
and erect thereon wo, ks, 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, drbentures. debenture
stock or other obligations from time to
| time to such an extent and In such
manner and upon snch terms as is
board uf directors shall determine;
povided that this corporation shall not
use any Of the funds or the property
for the purchase Ot shares Of its 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 ucon 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. OK
change, lease or otherwise acquire. hold
and own anG to mortgage, sell convey,
let. or otherwise dispose OF real and
personal property of eyory class and
description. in any state, territory, dis
trict, dependency or country, or subdi
vision or municipality thereof. subject
to the laws thereof.
ARTICLE w
The authorized smount of capital
stock OF this corporation shall be One
Million Dollars (sl 600 900 O0), divided
into ten thousand 100000 shares Of the
par value of One Hundred Dollars
(SlOO.0O 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 a. shall be
determined by the board of directors
aud 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 valuab BILE 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 ehall 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 v
|
| the corporation shall be the day these
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
bO IAOOtluS iOt 0AO OlOSVAOu
of directors shall be 6rst 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 aud 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.
unless authorized by resolution of the
stock holders or directors.
To designate if the bylaws so pro.
vide. two or more OF its numb Der to
constitute an executive committee.
which com mittee shall for the time be-.