Nogales international., 1932-05-04
LEGAL NOTICE
bonds and securities.

ton is One Hundred Thousand
($100,000.00) Dollars divided into
/ One Hundred Thousand Shares
(10O,OO0) Of the par value Of One
($1Oo) Dollar each, which said
stock when issued shall be fully
paid and non -ascessable and may be
sold and issued in exchange for
cash Or in exchange for services Or
other property real Or personal Oh
cuch terms and at such times as
the Board of Directors may pre-
scribe, and said board shall have
/ the full discretion and power to fix
the value Of property or services for
which stock may be exchanged, and
the determination by said Board OF
the value of any such property or
services shall in the absence OF fraud
be conclusive as to such value.
The stock Of this Corporation shall
/ be sold, exchanged or issued as ITS
Board of Directors may from time
to time determine, and in manner
as by it's bylaws provided and when
so issued shall thereupon and there
by be and become fully paid and
non -assessable
/ VI
The time Of the CONNER cement
of this Corporation shall be when
it shall have been issued its GER
tificate of incorporation therefor
and it's termination shall be twenty
! five wears thereafter
VII.
The highest amount Of liability
or indebtedness direct or contingent
to which this Corporation may at
any one time subject itself shall be
! Fifty Thou1and ($50,00000) Dollars.
VIII
The private property Of the stock
holders of this corporation shall be
forever exempt from liability on
account of any Indebtedness or obi
cations of this Corporation.
TX
The business and affairs OF this
Corporation shall be conducted by
and through it's Board of Directors;
such Board of Directors shall con-
sist of not less than three nor more
than fifteen members, as by its by
/ laws may be provided, and the mem
bers of said Board shall be stock
holders in this Corporation and
elected annually, on the first Tues
day in February Of each year, COM
mencing with the year 1888; provld-
ed. however, that the Board Of Dir
ectors may elect and appoint as in
the bylaws of the Corporation may
be provided, such other officers, in
addition to those in these
Articles of Incorporation spe-
officially mentioned, and by
resolution appoint such COM
mittee, from it's own members
as the Board may see fit, and may
recall and discharge any or all such
officers and dissolve such commit
tees at the will and pleasure of the
Board, and may vest in. such Of
ficers and committees all such pow
er as the Board may deem proper
and expedient for the required con-
duct Of the affairs and business of
the Corporation.
Until their successors shall be duly
elected and qualified, the following
named persons shall constitute the
Board of Directors of this Corpora
ton, to-wit: Frank P. Gardiner, AL
bert E. Sherman and Leslie E.
Moore, and Until the bylaws of this
Corporation shall otherwise provide,
three persons shall constitute its
Board of Directors.
Vacancies from any cause in the
Board of Directors shall be filled
by the remaining members, or mem
be-. of the Board, and new mem
bers chosen to fill vacancies shall
serve until the next annual election
CT the Board and until their sue
cessors, respectively, shall be elected
and qualified.
Vacancies from any cause in any
other office shall be filled By the
Board in like manner and with like
effect as vacancies of the Board
ara filled
The officers Of this Corporation
who shall manage its business and
affair; subjecl to the direction and
control OF thu Board Of Directors
shall be one President, one Vice
President. oa2 Secretary, one Trea-
sure. and one General Manager,
whose duties shall be prescribed by
the bylaws Of the Corporation.
The offices of Secretary and Trea-
Gurer may be held and the duties
thereof performed by one and the
same person. and likewise the Of
fees OF President and General Man
ager may be held and the duties
Thereof performed by one and the
same person. if SO provided by the
bylaws, and all such officers shall
be elected by and from among the
per-ons constituting the Board Of
Directors and snail hold their Of
fees concurrently with the Board
unless by the Board sooner Temov-
eG.
Except as herein otherwise pro-
vided, q majority of the members
of the Board Of Directors shall con-
Stitute a quorum, and any meeting
Of the Board at which there shall
be present a quorum shall be deemed
regular meeting and all business
transacted at any such meeting shall
have tha same force and effect oS