Appendix E: 1903 Petition

By-Laws

Capitulate

Article 1: The officers of this Corporation shall consist of a President, Vice-President, Secretary, and Treasurer, who shall be elected by the Board of Directors, and who shall discharge the obligations corresponding to their respective duties. Said officers shall serve for a period of one year and until their successors have been named and qualified.

Article 2: No person who is not a Director shall be elected to the post of President, Vice-President, or Treasurer. Likewise, no person shall be elected Director who is not a stock-holder. A President, Vice-President, Treasurer, or Director who at any time ceases to be a stock-holder shall at the same time cease to fill any post he may occupy in this Corporation.

Article 3: The Board of Directors can by agreement require that any one or all of the officers secure their management in favor of the Corporation with sufficient bond and under other conditions which from time to time may be required by the same Council.

Article 4: All written contracts which may be entered into on the part of the Corporation shall be signed by the President and Secretary affixing thereto the seal of the Corporation.

Part II: Directors

Article 1: The business of this Corporation shall be administered by a council of eleven Directors who shall be elected by the stockholders at the regular annual meeting, and who shall serve for one year and until their successor are elected.

Article 2: The Board of Directors shall choose all the other officers of the Corporation, and will approve all its agents. Vacancies which may occur on the Board of Directors will be filled by the remaining members of the Council in one of the regular sessions or special session of the Board of Directors.

Article 3: No Director shall receive a salary or compensation whatever for his services as a Director.

Article 4: Regular sessions of the Board of Directors shall take place immediately after the end of the annual stockholders meeting, and also on the first Saturday of each month at ten o'clock