Minutes - 77

76

affairs of said Southwestern Oil Company."

Resolution regarding
further advances
to S. W. Oil Co

Thereupon, on motion, duly seconded, the following
resolution was presented and unanimously adopted:

Whereas the Southwestern Oil Company had made
application to the Houston Oil Company of Texas for the
advancement of further sums of money; and

Whereas it is deemed inadvisable by the Houston Oil
Company of Texas to make further advances to said Southwestern
Oil Company without full and thorough knowledge and
understanding of the financial condition of the Company and
the actual value of all improvements and increase to the
property of said Southwestern Oil Company made since
the stock of said Southwestern Oil Company was acquired
by the Houston Oil Company of Texas; Therefore Be It

Resolved that the President of the Houston Oil
Company of Texas be, and he is directed to make a thorough
investigation into the affairs and financial condition of the
Southwestern Oil Company and into the value of all its
properties and have a thorough checking up of all receipts
and disbusements of said Southwestern Oil Company
and all of its agencies and to make full report thereon to
the Houston Oil Company of Texas and to that end the
President of the Houston Oil Company of Texas is hereby
given all the power necessary to make said investigation
thorough and his report thereon complete.

Regarding Conversion
of S.W.
Oil Co Acct
Payable into B/P

Thereupon, on motion, duly seconded, the
following resolution was presented and unanimously adopted:

Resolved that the President of the Houston Oil
Company of Texas be, and he is hereby authorized to convert
the account payable of hte Southwestern Oil Company to the
Houston Oil Company of Texas for oilsold by the Houston
Oil Company of Texas to the said Southwestern Oil Company
from an account payable to a bill payable, not exceeding
Fifteen Thousand Dollars, and to discount same for
the account of the Houston Oil Company of Texas, securing
same in such manner as the President of the Houston
Oil Company of Texas deems necessary.

Ratification of
Appointment of
A.P. Taliaferro
as Aud and Treas

Thereupon, the President of the Company
reported that F. A. Helbig, Auditor, and George Hoamman,
Treasurer, had some time theretofore tendered their
respective resignations, and that he had accepted same,
and had appointed A. P. Taliaferro to fill both offices, and on
motion, duly seconded and unanimously adopted, the action of
the President in so doing was approved and ratified and