The border vidette., 1934-01-20
cession, as now provided by law.
ARTICLE

The number of directors Of the cor
poratiOn shall be fixed from time 70
time by the bylaws. The number Of
directors may be increased as may be
provided in tbe bylaws. The directors
shall ba elected by end from among the
stock holders on the first Tuesday Of
January OF each year. Until their sue
cessore are elected and qualified, the
following named persons, who ore the
incorpcrators hereof, shall be- directors:
Mark 3 Thompson, 22s Security
building, Phoenix. Arizona.
Sam II. Kyle, 22S Security Build.
Ing. PHOENIX, Arizona.
NJ. NJ. Thompson. 22S Security
Building Phoenix, xArtzouA.
In case OF any vacancy ON the Board
O! Directors by death. resignation. dis
qualification. or any cause, the remain.
ing directors by vote OF majU ity
thereof may elect o director to hold
Office for the unexpired portion OF the
term OF the director whose place shall
be vacant, aud until the election of q
SUCCESSOR
The Board Of Directors shalt have
power to hold their meetings outside OF
the state OF Arizona. at such places as
from time may bs designated by the
by -lawe. or by resolution OF the Board
Any officer elected or appointed by
the Board of Directors may be removed
at any time by the affirmative vote OF
q majority Of the whole s;osrd Of Direc.
tors. Any other officer or employee Of
the Company may be removed 1T 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 by laws or by vote
OF the Board Of Directors
The Board OF Directors shall have
power fro n time to time to fix and to
deter mine and TO vary the amount OF
the working cspital of the Com pany;
and to direct aud determine the use and
disposition or any surplus or net profits
over aud above the capital stock paid
lu; and in its discretion tbs Board Of
Directors may use aud apply any such
surplus or accumulated profits in pur.
chasing or acquiring Its bonds or other
obligations, or shares 0f it's own capital
stock, to snch extent aud in such man.
ner and upon auch terms % the Board
of Directors shall deem expedien'; bu
shares Or such capital stock 80 purchas-
ed or acquired may be resold. unless
such sharcs shsll have been retired for
the purpose OF decreasing the com.
pany' = capital stock as provided by law.
Subject always to by laws made by
the stack holders. the Board OF Direc.
tors may make bylaws. aud. from t'me
to time may alter, amend or repeal
any by laws; but any bylaws made by
tho Board OF Directors may be altered
or repealed by the stockholders at any
annual meeting. or at any spe,ial 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
ACC uiesced iu writing by all the mem.
bers Of the Board aei Directors. such re-.
solution or proposed action shall be
taken and considered to be the act Of
tho Board OF Directors, with the same
force and effect as ifthe same bad been
duly approved by the same vote at
meeting OF the Board. duly called and
convened; and 1t shalt be the duty ct
the secretary OF the Company TO cause
euch action to be recorded in the min
utes OF the Company. with the same
pafticularity as II 1t had been 60 sp-
proved.
ARTICLE vi
The highest amount Of indebted
or liability to which the corporation ia
at any time to subject itself is Sixty.
Five Thousand le65. 000. .00) Dollars.
ARTICLE VII
Private property of the stock holders