The border vidette., 1932-08-27


cations and certificates and negotiable
or transferable instruments.
Gl To issue shares Of Eny c'ass Of
the capital stock bonds dehen lures,
debenturo stock, notes aud 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 foreg ,lng, or
in exchange for the stock, dehen lures,
debenture stock, b,ud', securities or
obligations Of any PEI son. firm. asso.
citation. corporation or organization.
tk) TO acquire, buy. purchase. lease.
own, hold, sell. NOR gage. encumber Os
otherwise deal in both improved and
unimproved real estate wherever situ-
ate; to survey, subdivide, plat, colopize
and improve the same FIR the purpose
OF sae or otherwise, and to- construct
and erect thereon works, plants stores,
houses, buildings or structures OF any
nature whatsoever.
() To purchase, hold. SELL exchange
or transfer sharea Ot lts own capital
stock, bonds, d. bentures. debenture
stock or other obligations from timo to
time to such an extent aud IN such
manner and upon such terms "a its
povided that thls 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 o:
this corporation, end provided. further.
that shares OF its own capital stock be.
longing TO this corporation shall not he
voted upon directly CIR Indirectly
-
carry On any or al Of its operations
and businesses; and without restriction
or limit as to amount. to purchase, ex
change, lease or otherwise acquire. hold
aud own, and to mortgage, sell. convey.
let. or otherwise dispose OF real and
personal property Of tvery class and
description. In any state, territory, dis.
triot, dependency Or country. or subdi
vision or municipality thereof. subject
to the laws thereof,
ARTICLE Nv
The authorized amount Of capital
stock of this corporation shall ba One
Million Dollars Isl 900 600 00), divided
into ten thousand 90, ,0O0 shares OF the
par value Of One Hundred Dollars
(Sl00.00) each.
From time to timo the capital stock
may be Increased or de creased accord
ing to law, and may be issued In 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 R)ard of Direct
ors may by resolution direct. said capi-
tai stock shall be paid iuto 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
ba issued and the capital stock 80 issu-
ed shall 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 shalt be conclusive,
ARTICLE V
The time of the commencement OF
the corporation shall be the day these
law, and the termination thereof shall
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 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 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.
unless authorized by resolution of the
stock holders or directors.
To designate if the bylaws 30 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 aud affairs
of this corporation and have power to