Daily Arizona silver belt., 1907-01-24

are and shall be Five (5) Directors, 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 Direc tors 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 everystoekholder shall have the right to vote, in person or by proxy, the number of shares standing in his 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 Board of Directors composed of J. D. Coplen, $. L. Gib son, l.. R. Scholl, J. C. Britt and w. H Mercer, who shall hold office until the annual election to he 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 tho time of their appointment as such di reetors, but each of said directors SC appointed shall become the owner oi one or more shares of said capital stock within sivty days from the date of thes' articles, or in default thereof shall ceas, to be a director whenever after sait 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 shal be as follows:
 J. D. COPLEN. President;
 $. l.. GIBSON. Vice President:
 l.. R. SCROLL. Secretary and Treas urer;
 who shall hold office until their sue cessors shall have been elected and qualified
 The Board of Directors shall have thu power and authority to do and perform any and all duties usually connected with like offices, which powers and du ties, while so-acting as officers and di rectors of this corporation, shall includ, the adoption of corporate seal. npor which shall be inscribed the words fol lowing: THE GL0BE-ARIZONA TEL EPHONE COMPANY. and the afixins thereof to any stock certificates ol instruments of writing which may b, issued CT executed by them under ths powers herein conferred, as we'll as tn, adoption of all necessary bylaws fol the internal conduct and management ot the. affairs of this corporation; provided that no Director performing any duty as director of this corporation shall receive any salary or compensation therefor.
 VI.
 The highest amount of indebtedness. or liability, direct or contingent (exclu sive of its capital stock to which said company is at any time to subject it self or be subjected shall not exceed Twenty-Five Thousand Dollars.
 VII.
 The private property of the member, of this corporation and the stockholders thereof, shall bo exempt from liability for corporate debts.
 In Witness Whereof, We have here unto set our hands this 9th day of Jan uary, A. D. 1907.
 ]. D. COPLEN,
 s. l.. GIBSON,
 l.. R. SCROLL,
 JOHN c. BRITT, w. II. MERCER.