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Los A n geles, September 24, 1941. F ile 8 0 ^ 80-2 Mr. Frank Strong* R e fe r rin g to your v e rb a l request f o r appro­p r ia te necessary a c tio n f o r e le c t io n o f Mr. Ashby as V ice P re s id e n t o f the Las Vegas Land and Water Com­pany* The by-laws o f the Water Company, A r t ic le IV , S ection 1, p ro vid e th at a t the f i r s t re g u la r meeting o f the Board o f D ire c to rs a f t e r the annual e le c t io n , the Board s h a ll e le c t from i t s members a P re s id e n t, and s h a ll a ls o e le c t two V ic e -P re s id e n ts , and such o th er o f f i c e r s as the Board s h a ll d e te r­mine* A r t i c l e V I, S ection 2, p rovides th at the by-laws may be amended a t any annual meeting o f the stock h old ers, o r a t any s p e c ia l meeting c a lle d f o r th at purpose, o r by w r itte n consent signed by the h old ers o f a t le a s t a m a jo rity o f the stock. Under A r t i c l e V I, S ection 1, the Board o f D irecto rs would have a u th o rity to e le c t another V ic e - P resid en t on the theory that the V ic e -P re s id e n t was *such o th er o f f i c e r * . Unless th ere is some immediate need f o r the e le c t io n o f Mr. Ashby as V ic e -P re s id e n t, I suggest th a t we w a it u n t il the re g u la r annual meet­in g o f stock h old ers, and then amend the by-laws to p ro vid e e ith e r fo r the e le c t io n o f fou r V ic e -P r e s i­dents o r f o r the e le c t io n o f one o r more V ic e -P r e s i­dents by the Board o f D ire c to rs . The l a t t e r would be p r e fe r a b le , as i t would g iv e the Board con sid erab le leeway in in crea sin g or d ecreasin g the number o f V ice-P resid en ts* E. E. Bennett EEBjBS