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<br />. <br /> <br />. <br /> <br />per share of lift canals stoCk;Ybut the right to distribution <br />of water under said classes of stock shall be in this proportion; <br />of one-half (l) statute inch on eech share of power canal stock <br />to one-third (1/3) statute inch on each share of lift canals <br /> <br />stock. <br />In all other respects the benefits and burdens of shares <br />of stock in each of said classes shall be equal. Cumulative <br />voting shall be allowed. <br /> <br />ARTICLE V. <br /> <br />This corporation shall exist for a term of twenty years <br />from the dete thereof. <br /> <br />ARTICLE VI. <br /> <br />The said corporation shall have a Board of Directors con- <br /> <br /> <br />sisting of seven persons, and the names of the directors who <br /> <br />, <br />shall manage the affairs of the corporation for the first fiscal <br /> <br /> <br />year are D. T. Stone, Charles Rump, Grant Squier, L. M. Rogers, <br />J. A. De Blaquiere, L. O. Marshall, and Charles Mead. <br />ARTICLE VII. <br /> <br />The principal office of said company shall be at Grand <br />Junction, Mesa County, Colorado, and the principal busine$s of <br />the company shall be carried on in the County of Mesa and State <br />of Colorado. <br /> <br />ARTICLE VIII. <br />The Board of Directors shall have power to make such pru- <br />dential by-laws as they may deem proper for the management of the <br />affeirs of the company, not inconSistent herewith nor inconsistent <br />with laws. <br /> <br />ARTICLE IX. <br />The by-laws may provide that no person shall be eligible <br /> <br />-' <br /> <br />-5- <br />