Daily Arizona silver belt., 1907-01-20

are and ShaIl De rive ko) D1Tectors, who shall be annually elected upon the second Tuesday of January of each year; provided, that the date of such annual election may be changed from time to time by the bylaws of said company.
 There shall also be President, a Vice President, Secretary and Treas urer of said company, and such other officers as may be provided for by by law, all of whom shall be elected or ap- pointed in such manner and at such. times and for such terms as the bylaws may prescribe.
 The Directors shall hold office for one year from the time of their election and until their successors shall have been elected and qualified.
 Vacancies in the Board of Directors shall be filled by appointment, as the bylaws may provide, and any person so appointed to fill any vacancy in the Board of Directors shall hold office un- til the next annual election and until his successor shall have been elected and qualified. No person shall be a Director who shall not be at the time of his election or appointment holder of one or more shares of the capital stock of this corporation.
 All elections of directors shall be by ballot and everystockholder shall have the right to vote, in person or by proxy, the number of shares standing in his name on the books of said corporation, for any and all persons as directors to be elected in such manner as is provided by the bylaws of this corporation.
 The affairs of this corporation are to be conducted by a Board of Directors composed of J. D. Coplen, 8. l.. Gib- son, l.. R. Scholl, J. C.. Britt and w. H, Mercer, who shall hold office until the annual election to be held on the sec ond Tuesday of January, 1908, and until their successors are elected and qualified.
 Said above named persons herein ap pointed are not ineligible as such be cause of not holding any shares of tho capital stock of said company at ths time of their appointment as such di rectors. but each of said directors sS appointed shall become the owner oi one or more shares of said capital stOcl within sivty days from the date of thes, articles, or in default thereof shall eeas' to be a director whenever after saiS period of sixty days, his default con tinuing, the Board of Directors shal declare his place vacant for such de fault.
 The officers of this corporation sbai be as follows:
 | J. D. COPLEN, President;
 s. l.. GIBSON, Vice President; | l.. R. SCHOLL, Secretary and Treas urer;
 eessors shall have been elected an, qualified.
 The Board of Directors shall have th power and authority to do and perform any and all duties usually connecte' with like offices, which powers and du
 ties, while so acting ss officers and di rectors of this corporation, shall inelud
 the adoption of corporate seal, upol
 which shall be inscribed the words fol
 lowing: THE GLOBE-ARIZONA TEL
 EPHONE COMPANY, and the sffixinI : thereof to any stock certificates o : instruments of writing, which may b
 issued or executed by them under tn powers herein conferred, as we'll as tn
 adoption of all necessary bylaws fo the internal conduct and management O the affairs of this corporation; provided that no Director performing any dut. as a director of this corporation shal receive any salary or compensation therefor.
 The highest amount of indebtedness or liability, direct or contingent (exelu sive of its capital stock) to which sai , company is at any time to subject il : self or be subjected shall not excee Twenty-Five Thousand Dollars. VII. The private property of the member of this corporation and the stockholder thereof, shall be exempt from liabilit for corporate debts.
 In Witness Whereof, We have here !, unto set our hands this 9th day of Jan uary, A. D. 1907.
 J. D. COPLEN,
 s. l.. GIBSON, L. R. SCHOLL, JOHN c. BRITT, W. H. MERGER.