Imperial Valley press and the Imperial press., 1906-05-19
OUR WATER RIGHTS
Continued from isl pace'

pers requiring a seal.
 3d. He shall keep proper transfer book and a stock ledger in debit and credit form, showing the number of shares issued Go and transferred by any stockholder and the dates of such issu- ance and transfer
 4th. He shall keep proper account books, eountersign all checks drawn up- on the treasurer and discharge such oth- CT duties as pertain to his office and as are prescribed by the board of directors. 5th. The secretary shall serve all no- tiees required either by law or the bye laws of the company, and in case of his absence, inability, refusal, or neglect SO to do, then such notices may be served by any person thereunto directed by the president or vice president of the com pany.
 ARTICLE IN.
 TREASURER.
 The treasurer shali receive and keep all the funds of the corporation and pay them out only on the check of the presi- dent, countersigned by the secretary.
 ARTICLE X.
 SUPERINTENDENT
 The board of directors shall elect a su> perintendent who shall hold his office at the pleasure of the board, who shall at all times be subject to removal by the board, who shall perform such duties as shall from time to time be prescribed by the board, and who shall have immedi- ate charge of the entire canal system. He shall appoint such zanjerOs and as- sistants as may be necessary in distrib uting the water and employ such help as may be necessary to keep the canal system in good repair. All appoint ments shall be made, all help shall be employed and all work shall be done un- der such rules and regulations as shall be adopted from time to time by the board of directors The methods for distributing the water and collecting rates for the same shall also be fixed by the board of directors.
 ARTICLE XI.
 BOOKS AND PAPERS
 The books and such papers as may be or directors shall, at all times in busi- ness hours, be subject to the inspection of the board of directors and of any stockholder
 ARTICLE XII.
 CERTIFICATES OF STOCK.
 Certificates of stock shall be of such form and device as the board of direct ors may direct, and each certificate shall be signed by the president and counter signed by the secretary, and express on its face its number, date of issuance, the number of shares for which, and the person to whom it is issued.
 The certificate book shall contain margin, on which shall be entered the number, date, number of shares and name of the person expressed in the corresponding certificate.
 ARTICLE XIII.
 TRANSFER OF STOCK.
 Shares of the corporation may be transferred at any time by the holders thereof, or by attorney legally consti- tuted. or by their legal representatives, by indorsement on the certificate of stock. But no transfer shall be valid until the surrender of the certificate and the acknowledgement of such transfer on the books of the company.
 No surrendered certificate shall be cancelled by the secretary before new one is issued in lieu thereof, and the secretary shall preserve the certificate so eanceled as voucher If, however, a certificate shall be lost or destroyed, the board of directors may order new certificate issued upon such guarantees by the parties claiming the same as they may deem satisfactory.
 ARTICLE XIV.
 MEETING
 The annual meeting of the stockhold- CTS may be held in Imperial, CalifOr- mia, on the second Tuesday in January in each wear and aball Ina callad by o