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Auditor. C e r t i f i - • cates o f stock —* when i s ­sued. he d esign ated by the Au ditor w ith the approval o f the P re s id e n t. He s h a ll cause to be kept in h is o f f ic e * true f u l l , accounts o f a l l re c e ip ts and disbursements o f ; He s h a ll a ls o perform such other d u ties as s h a ll be assigned to him by the P re s id e n t* and s h a ll g iv e bond w ith proper surety f o r such amount as may be approv­ed by the P resid en t* fo r the f a it h fu l performance o f h is d u tie s . S ection 6 . The A u ditor s h a ll have the immediate charge, su p ervision and c o n tro l o f a l l the accounts o f the Company* and s h a ll en force and maintain the accounting ru les and reg u la tio n s as p re scrib ed from time to tim e. He s h a ll req u ire rep o rts from the Treasurer or A ssistan t Treasurer, and from a l l o f f ic e r s and agents o f the Com­pany who r e c e iv e or disburse funds fo r i t s account, at such time and in such form as he may deem ad visab le* show­in g a l l r e c e ip ts and disbursements fo r the Company*s ac­count, and he s h a ll have the custody o f a l l vouchers, d ra fts ,, in v o ic e s and oth er evidence o f such disbursements. He is au th orized to approve fo r payment* a l l vouchers, p a y - r o lls , d ra fts or oth er accounts when approved by the P resid en t or by such persons as s h a ll be designated by the P resid en t in w r itin g , and he may d elegate such author­i t y by appointment in w r itin g w ith the approval o f the P resid en t, to one or more employes o f the Accounting De­partment. ARTICLE V. R egu lations r e la t in g to the issu e o f stock c e r t i f i c a t e s and the tr a n s fe r o f stock. S ection 1. C e r t ific a t e s rep resen tin g stock o f the Company s h a ll be signed by the p resid en t or by a v ic e - p resid en t and a lso by the secreta ry or an a s s is ta n t sec­r e ta ry . Unless au th orized by the Board o f D irecto rs no new c e r t if ic a t e s s h a ll be issued except upon surrender and c a n c e lla tio n o f an o ld c e r t i f i c a t e fo r a lik e number o f shares. - 7 -