Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-04-08

1d VII.
ne 1. The number of directors o
le me company shall be fixed from
CT tlme TO time by the bylaws.
IN q The board OF directors shall
nave the power to hold their meet,
a. ihgs outside of the state of New
i Jersey at such places as. from time
70 time, may be designated by the
bylaws or by resolution of the
is board. The bylaws may prescribe
the number of directors necessa ry
TO constitute a quorum OF the board
Z OF directors, which number may be
ISL less than a majority of the whole
nj number OF the directors.
I'll 3. ANY officer elected or APP
I'll pointed by the board OF directors
nj may be removed at any time by the
i affirmative vote of a majority of
n the whole board of directors. Any
: other officer or employee Of the
t company may be removed any time
by vote of the board of directors,
or by any committee or superior
: officer upon whom such power of
removal may be conferred by the
9 bylaws or by vote Of the board OF
|. directors.
1 a. The board of directors by tho
affirmative vote of a majority OF
the whole board, may appoint from
= the directors an executive commit
$ tee. of which a majority shall con-
: stitute q quorum, and to such eX-
= tent as shall be provided in the by-
Z laws, such committee shall have
and may exercise all or any of the
+, powers OF the board of directors,
including power to cause the seal
! of the corporation TO be affixed to 4
all papers that may require it.
5. The board OF directors, by the !
affirmative vote of a majority OF
the whole board, may appoint any
other standing committees. andi
such standing committees shalll
have and may exercise such powersl
as shall be conferred or authorized
by the bylaws or by the resolutionl
appointing them.
s. The board of directors mayI
appoint not only other officers of
the company, but also one or more
vice presidents, one or more as
/! sistant treasurers, and one or more
assistant secretaries; and, to the eX-
tent provided in the bylaws, the
persons so appointed respectively
shall have and may exercise all theI
powers of the president, of thei
treasurer and Of the secretary re-
spectively.
T. The board of directors shall
not in January in each year, after
reserving over and above its capital
stock paid in, as a working capital I
for said corporation, such sum, II
any. as shall have been fixed by
the stockholders, be required to de- {
clare a dividend among its stock d
holders of the whole Of it's accum-
ulated profits exceeding the amount l.
so reserved, and pay the same to
such stockholders on demand but
it is hereby expressly provided that N
the board of directors shall have
the power to fix the sum which Il
may be set aside or reserved as y
working capital for the company
over and above the companys cap "
ital paid in, and from time to time o
increase, diminish and vary the II
amount of working capital in their
absolute judgment and discretion, ii
and to direct and determine the d.
use and disposition of any such b
sum or surplus SO set aside and al
'eserved as working capital by the tt
BOARD of directors; and in its dis o
,retion the board of directors may OF
Use and apply any such surplus or st
accumulated profits in purchasing of
II acquiring it's bonds or other oh
igations or shares of its own capt. CT
al stock, or the bonds or other ca
Obligations or shares of the capital su
took of any other corporation, to be
UGH extent and in such manner en-
nd upon such terms as the board nm
+ directors shall deem expedient; M;
nd shares of such capital stock so
or required may be re-
old, except such shares of the cap re
al stock of the company as shall A.
ave been retired for the purpose
decreasing the company's CAPT.
II stock as provided by law.
8. With the assent in writing,
+ pursuant to the vote of the hold Vo
IS of two-thirds Of the capital Pr
ock issued and outstanding, the ine
BARD of directors shall have power pal
I'D authority to sell. assign. trans fic
n, convey or otherwise dispose of sio
lie property and assets of this II:
,rporation as an entirety. on such
rms and conditions as to the (
BARD of directors shall seem just
Id eXpedient stu
8. The board of directors from 7
me to time shall determineI n
neither and to what extent. and at roc
hat times and places and under 100
hat conditions and regulations cor
accounts aIlo poVhS Vi tile CO.. ord
'ration, or any of them shall be (Se
zen to the inspection of the stock Wy
'lders and no stakeholder SHAH -
We any right to inspect any ac- 10y
unit or book or document of the -
except as conferred
statute or authorized by the
ard of directors, or by resolu- In
IN of the stockholders. r.
10. Subject always to bylaws IN
lde by the stockholders, the N
ard of directors may make by TO
VS., and, from time to time. may ~
err, amend or repeal any bylaws; ~, GO
eny W -t',ws i't"ue ~ Wy po",u rupt
lHns W ai.ei w " ders
aieu Wy ene sloeNi,oioels ~ ""y Bids
: -. . Ft m.
pItt. ,I ~, exal
-. az tee
s'oen pc ih''uoIu a. ~ ines
ders. 40
n Witness Whereof We have -
'eunto set our hands ana sea- Stat,
4th day of February, nineteen ra
ldred and twenty-one. ic,
G. M. MOFFETT. (SeaD Limit
Il. It. FISHER. (SeaU N,
GEO. S. MARIANA. (SeaD If
ALBERT A. SMITH. (SeaD anne
igned, sealed and delivered In pIete
presence OF of Ii
TRAM a. HAL" mo.
.e OF new YORK. county Oh NE" there
DIRK, SIS. and
'e II Remempereu' tnat on tnls State
day of February, 1921, before In
undersigned personally appear Corn
George M. Moffett. Albert A. stat
tn, Frederick T. Fisher and this
rye S, Mahana, who, j am sat Chat,