The border vidette., 1933-12-09
ces sion, as now provided by law.
ARTICLE

The number OF directors OF the cor.
pOrAtion shall be fixed from time 10
time by the by laws. The number OF
directors may be increased rs may be
provided in the bylaws. The directors
shall be elected by and from among the
stock holders on the first Tuesday Of
January OF each year. Until their sue.
cessors are elected and qualified. the
| following named persOns, who are the
incorpurators hereof, shalI be directors:
Mark 3 Thompson, 228 Security
Building, Phoenix, Arizona.
Sam FL. Kyle, 22S Security Build.
ing, Phoenix. Arizona.
M. M. Thompson. 228 Security
Building Phoenix, Arizona.
In case OF any vacancy nn the Board
OF Directors by death, resignation. DIS
qualification. or any cause, the remain.
ing directors by vote Of maj ity
thereof may elect q director to hold
Office for tho unexpired portion OF the
term Of the director whose place shall
be vacant, aud until the election Oi 4
successor
The Board OF Directors shall have
power to hold their meetings outside OF
the State OF Arizona. at such places as
, from tina may be designated BY the
bylaws, or by resolution OF the Board
Any officer elected or appointed by
the Board Of Directors may be removed
at any time by tho affirm alive vote of
majority OF the whole Board OF Direc-
tors. Any other officer or employee Of
the Company may be removed at any
time by vote of the Board of Directors,
or by any committee or superior officer
upon whom such power Of removal may
be con ferred by the bylaws Or by vote
of the Bonrd Of Directors.
The Board OF Directors shalt have
power fro N time to time to fix and TO
determine and to vary the amount Of
the working capital Of the Com pany;
and to direct and determine the use and
disposition or any surplus or net profits
over aud above the capital stock paid
In; aud iu its discretion the Board Of
directors may use and apply any such
surplus or accumulated profits in pur-
chasing or acquiring it's bonds or other
obligations. or shares of its own capital
stock, to such extent and in such man.
ner a1d upon such terms rs the Board
of Directors shall deem expedient; bu
ed or acquired may bs resold. unless
such shares shall have been retired for
the purpose OF decreasing the com.
pany'a capital stock as provided by law.
Subject always to bylaws made by
tors may make bylaws, and. from time
to time, may alter, amend or repeal
any bylaws; but any bylaws mtde by
~ hr,
nr repealed by the stockholders at any
annual meeting. or at any special meet.
Ing. provided notice of such proposed
alteration or repeal be included in the
notice OF the meeting.
Whenever any resolution In writing
may be Signed. or any proposed action
acq uiesced in writing by all the mem.
bers OF the Board OF Directors, such re-.
solution or proposed action shall be
taken end considered to DO the aot OF
the Board of Directors. with the same
force and effect as II the same had been
duly approved by the same vote at a
meeting OF the Board. duly called and
convened; and it shall be the duty of
the secretary OF the Company 10 cause
.uch action to be recorded in the min
utes OF the Company. with the same
particularity as ii it had been so ap.
proved.
ARTICLE vi
The highest amount OF Indebtedness
or liability to which the corporation is
at any time TO subject itself is Sixty.
Five Thousand 1865. 000. .O0) Dollars.
ARTICLE VII
Private property of the stock holders