The border vidette., 1934-02-10
cession, as now provided by law.
ARTICLE

The number OF directors Of the cor
pcration shall be fixed from time 10
time by the by laws. The humber OF
directors may ba Increased rs may be
provided in tho by.Iewa. The directors
shall he elected By and from among the
stock olders on the first Tuesday Of
January of each year. Until their suc-
cessors are elected and qualified, the
; following named PERSONS. who are the
iucorporatorS hereof, shall be directors:
Marx B Thompson, 228 Security
Building. Phoenix, Arizona.
Sam II. Kylc, 22S security Build.
lug, Phoenix. Arizona.
NJ. NJ. Thompsi,n. 22S Security
Building Pnoeuix. ArizouA
In case Of any vacancy on the Board
OF Directors by death. resignation. DIS
qualification, Or sny cause, tho rema' n-
Ing directors by vote ci msio Ivy
thereof may elect q director to hold
Office for tho unexpired portion ct tho
tern. OF the director whose place shall
be vacant, aud until the election oi a
! successor
The Board of Directors shalt have
power to hold their meetings outside OF
! the State Ut ArlZopS, st snch places as
, from time may be designated by tao
bylaws, or by resolution of the Board
Any officer elected or appointed by
the Board of Directors may Go removed
ut any time by the affirmative vote cf
q majority Of the whole Aoard OF Diioc-
tors. Any q her officer or cmplo 90 OF
the CONS pany may be removed at any
time by vote Of tho Board OF Directors,
or by any committee or superior officer
upon whom snch power Of removal may
be conferred by the by laws OR by vote
of the Board Of Directors.
The Board OF Directors shail have
mower fro time to time to fix and TO
determine Hud to vary the amount OF
the working capital Of the Company; !;
and to direct ind determine the use and
disposition or any surplus or net profits
over and above the capital stock paid
10; and ia It's disore:ion the Board OF
Directors may use aHd apply any such
surplus or accumulated profits III rur.
chasing or acquiring It's bonds ca other
obligations, or shsres OF its own capital
stock, TO such extent and in such man.
ner aod upon such terms as the Board
of Directors shall deem exredent; bu
shares or such capital stock 80 purchas
ed or acquired may be reaold. unless
such shares shall hsvs been retired for
the purpose Of decreasing the com.
pany's capita! atock as provided by ia ".
Subject always to by laws made by
eht, stock holders. the Board OF Direc.
tors may make bylaws, aud. from time
to time. may alter, amend or repeal
any by laws; bns any by-lsws made by
the Board OF Directors may Be altered
or repeated by the stock holders at any
annual meeting Or at any spe;i8l meet.
ing. provided notice Ut such proposed
alteration or repeal be included in the
notice ut the meeting.
Whenever any resolution IN writing
may be signed. or any proposed action
AGO uiesced in writing BY sli the mem
bers of the Board Of Directors. such re-.
solution or proposed action shall be
taken and considered to he the act OF
the Board Of Directors. with the same
force and effect as II the same had been
duly approved By the same vote At 4
meeting OF the Board. DULY called and
con yened; and it shall be the duty ot
the secretary OF the Company to cause
.uch action to be recorded ia the min
utes CT the Company, with the same
particularly as II 1t hsd been go ap'
proved.
ARTICLE vi
The highest amount OF iadebtedn
or liability TO which the corporation is
at any time to subject itself 10 Sixty
Five Thousand 1856. 000. .00) Dollars.
ARTICLE VII
Private property OF the stock holderi