The Coconino sun., 1927-11-11

of the redemption price of said stock
on such dividend payment date. Desig
nation and calling of said Class "A"
stock for redemption shall be in such
manner as the Board of Directors may
determine before such call
The rights of the stockholders of
this corporation to dividends, pre-
ferred or otherwise, shall at all times
be subject to the power of the Board
of Directors to fix and vary from
time to time the amounts to be set
aside or reserved as working capital
or as reserve for contingencies.
Closing of Stock Books.
The Board of Directors may close
the stock books Of the company not
more than fifteen days before the date
of payment of any regular or special
dividends; and the stockholders of
record at the time of such closing shall
be regarded by the company as the
stockholders in fact for the purpose
of receiving dividends.
ARTICLE TX.
Stockholders of the Corporation.
At all meetings of the stockholders
each share of Glass 'tB" stock shall be
entitled to one vote either in person
or by proxy, and at least 25Go of the
outstanding Class "B" stock shall be
necessary to hold stockholders
meeting and shall constitute quorum.
Should a quorum not be present or
represented at any stockholders meet
ing, adiournments may be taken from
time to time without further notice
until a sufficient number of shares
are present or represented to hold
such meeting.
The holders of said Class "a"
stock shall have no voting power on
any question.
Annual Meeting.
The first annual meeting of the
stockholders for the election of officers
and the transaction of such other
business as may come before said
meeting shall be held in the office OF
the company in Salt Lake City, Utah,
on the first Monday in October, 1927
at the hour of two o'clock P. M, and
annually thereafter at the same time
and place.
Special Meetings.
Special meetings of the stockholders
may be called by the President or
President, by any four directors
or any number Of Class "B" stock
holders whose holdings shall not be
less than $4,000 shares of Class "B''
stock. Notice of such special meeting
shall be given by advertisement in a
daily newspaper of general circulation
published at Salt Lake City, Utah for
a period of 10 days prior to the date
of the meeting; and a copy of the
notice stating the time, place and
purpose of said meeting shall be
mailed to each stakeholder of record
at his, address as shown upon the
books Of the corporation at least 10
days before the time at which said
meeting is to be held.
Waiver of Notice,
Any notice required to be given any
stakeholder, director or officer of this
corporation may be waived by written
instrument signed by such stockhold-
er, director or officer.
ARTICLE X.
Officers of the Corporation.
The officers of this corporation
shall consist of five directors, also
President, a Vice-President, Secre-
tary and Treasurer, who shall each
perform such duties and have such
authority as usually pertains to such
officers in similar associations or as
may be prescribed by the Board of
Directors from time to time, provided
that the same person may hold the
office of Secretary and Treasurer.
Qualification of Officers.
To be qualified each officer except
the Secretary and Treasurer must own
in his own right, standing in his own
name upon the books of the corpora
ton, at least one share of either the
Glass "a" or Glass "B" stock of the
corporation; and upon the transfer of
all the stock of any such officer so
that such officer becomes ineligible
and upon a tender of such stock to
the proper officer for transfer to the
name Of another, the officer shall
thereupon instanter cease to be an
officer, and shall have no further
power to bind this corporation by his
act or acts.
Manner of Election.
Directors shall be elected by the
holders of the outstanding Class "B'
stock by ballot at the annual meeting
of the stockholders, and the persons
receiving the highest number of votes
(provided such number shall repre-
sent a majority of all votes cast) shall
be declared duly elected.
Within ten days after their election
the directors shall meet and elect
from among their number a President
and Vice-President, and also, but not
necessarily from among their num-
Der, a secretary and treasurer.
Term of Office.
The term of office of all directors
and officers, except as to first direc-
tors and officers, shall be one year.
Directors and officers shall hold over
until their successors are elected and
qualified
Resignation of Officers.
Any officer or director may resign
by filing his written resignation with
the Secretary of the company, or in
case of the resignation of the Secre-
tary, with the President or Vice
President Of the company, and upon
acceptance thereof by the Board of
Directors the resignation shall become
effective. In case the Board of Di-
rectors shall neglect to act upon such
resignation within fourteen days after
its receipt the resignation shall be-
come effective and the office be
deemed vacant.