The border vidette., 1932-06-25

or transferable Instruments.
G> To issue shares Of any class OF
the capital stock, bonds. debentures,
debenture stock, notes and other obli.
cations OF thia corporation for cash, or
labor done, for property, real or per
sonal, for leases thereof, or Tor any
com mbination OF any OF the foreg nng, or
in exchange for the stock, debentures,
debenture stock, bond'. securities or
obligations OF any person, firm, asso.
ciation. corporation or organization.
k) TO acquire, buy. purchase lease.
own, hold, sell, mortgage. cucumber or
otherwise deal in both improved and
unimproved real estate wherever situ-
ate; to survey. subdivide. plat, colonize
and improve the same for the purpose
OF sale 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 shares Ot it's own capital
stock, bonds, debentures. debenture
stock or other obligations from time to
time to such an extent aud In snch
manner and upon such terms as its
board Of directors shall determine;
povided that this corporation shalt not
use any of the funds or the property
for the purchase OF shares Of its own
capital stock when such uso would
cause any impairment Of the capital Of
this corporation. and provided. further.
tha at shares OF its own capital stock be.
longing TO this corporation shall not he
voted upon directly or indirectly.
(m) 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, 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 subdl
vision or municipality thereof. subject
to the laws thereof.
ARTICLE Nv
The authorized amount OF capital
stock of this corporation shall bs One
Million Dollars (Sl 600 COO 0O), divided
into ten thousand (l0,00O) shares OF the
par value OF One Hundred Dollars
(SlO0.0O) each.
From time to time the capital stock
may be increased or decreased accord
ing to law, aud may he issued In such
amounts and proportions as shall be
determined by the board OF directors
and as may ba permitted by law. and
when 30 issued, shall be deemed to be-
fully paid and non assessable.
At such time as the )ard 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 80 issu
ed shall therenpon 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.
ARTICLEV
| 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 Us 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 f. 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 al
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 sto"k ledger) or any OF
them. shall be open to inspection OF
stock holders, and no stock holder shall
have any right OF inspecting any nc
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 it's number to
| constitute an executive committee.
which committee shall for the time be.
| ing, as provided In said resolution. OF
| i'm 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 and affairs
| of this corporation and have power to