upr000196 217

Sr* Frank Strong -3- 10/4/41 Inge for any period or Indefinitely nay be made in the name and on behalf of the 00mpmg % the President (or such of floor ae he shall desig­nate) without further authority; ? and leases* contracts, licenses and permits of th e character spool fled In this section may be made for periods exceeding, or wlich may exceed, a'-period herein­before limited, provided that ? the same shall by their express terms be terminable at the option of the ooB5>any upon one years* notice or less* Section 3* A ll expenditures or li a b i li t i e s re la tin g to the property o f the company, not cxceedim i ...„.... ........ * may be made by the President ( o r such O fficer as M shall designate) without further au th o rity # | vrtth respect to the Vice President’ s situ ation , A r t i c l e I? , S ection 1# sh ould be amended to p ro v id e th at the Board o f d ir e c t o r s r h a li e le c t one o r more V ice P re sid e n ts In stead o f th e p re se n t language a s amended November 13, 1928# "?:; f j | As I have s ta te d , the amendment- would c l a r i f y the a u th o rity o f the o f f i c e r s o f the company, a M co u ld be mad® e it h e r a t the stock h old ers * m eeting, o r i f author­i t y to amend the b y -la w s were given to the Board o f h i r e s - t o r s , a s X have suggested, that s in g le amendment could be made a t the stockh olders* meeting and the o th e r amend­ments above suggested c o u ld b e made t h e r e a ft e r by the Board o f D ire c to rs *