Minutes of Houston Oil Company of Texas

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Warrants that may in his judgment be or become necessary to carry out the spirit and purpose of the resolutions his act or acts in the premises being hereby in all things ratified and approved.

Mortgage to Maryland Tr Co Trustee

Thereupon the following resolutions were presented, seconded and unanimously adopted.

Resolution Whereas the Houston Oil Company of Texas has heretofore assigned and transferred to the Maryland Trust Company of Baltimore Maryland as Trustee a certain stumpage contract between said Oil Company and Kirby Lumber Company assignee of John H Kirby bearing date the ____ day of July 1901 and fully authorized and empowered the said Mayland Trust Company as trustee to collect and and receipt for all the avails and moneys due to and become due under said contract and to hold the amount so collected in trust for the payment and satisfaction of certain certificates of beneficial interest to the aggregate amount of Eleven million ($11,000,000) dollars to be issued by the said Maryland Trust Company against said avails and moneys and from the same to pay the interest and principal of said certificates as the same respectively mature and the expenses of the execution of the Trust and the remainder to pay over to the said Houston Oil Company and

Whereas as additional security for the prompt and full payment of the principal and interest of said certificates the said Houston Oil Company of Texas has agreed to guarantee the prompt and full payment of each and every of the installments of money payable by said Kirby Lumber Company under said stumpage contract as the same severally fall due and as security for said guarantee to execute and delier to said Trust Company a deed of mortgage of all its franchises and estate and property real and personal and mixed of whatsoever kind and character and wheresoever situated now owned or hereafter to be assigned by it. Therefore be it.

Resolved by the Board of Directors of the houstonOil Company of Texas that a deed of mortgage be executed and delivered to said Maryland Trust Company as trustee by said Houston Oil Company of Texas wherein and whereby its said guarantee of payment shall be fully expressed and conveying to said Maryland Trust Company as trustee as security for the full performance of said guarantee all of the rights franchises estate and

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property - real - personal and mixed of the said Houston Oil Company of Texas of whatsoever kind and character and wheresoever situated now owned or that may be hereafter acquired by it and

Whereas the form of the said proposed deed of trust or mortgage with said guarantee of payment expressed thereing to be executed by said Houston Oil Company of Texas is now here presented to the said Board of Directors for inspection and approval. Therefore be it further

Resolved that the said form of Deed of Trust or Mortgage be and it is hereby approved and that the President of said Houston Oil Company of Texas is hereby directed to execute acknowledge and deliver a deed of trust or mortgage in substantial compliance with said form as the act and deed of said Houston Oil Company of Texas and same to be duly attested by the Secretary of said Company or the assistance Secretary of said Company and by him acknowledged. Be it

Further resolved however that the President of said Houston Oil Company of Texas be and he is hereby fully authorized and empowered to make any and all modifications atterations and additions to said form that may in his judgement be or become necessary to carry out the spirit and purpose of these resolutions and to fully carry out the purpose and object of the execution of said deed of trust or mortgage and his act or acts in the premises are hereby in all things ratified and approved.

Thereupon the following resolutions were presented seconded and unanimously adopted.

Assent of H. O. Co. to transfer of contract by J. H. K. to K. L. Co.

Whereas Mr. John H Kirby has assigned and transferred to the Kirby Lumber Company that certain stumpage contract with the Houston Oil Company of Texas which is set out in the minutes of the meeting of the Board of Direectors of said Houston Oil Company of Texas held on the 9th day of July 1901.

Now therefore be it resolved that the Houston Oil Company of Texas does hereby assent to said transfer and accepts the assumption of the performance of said contract by the said Kirby Lumber Company.

Thereupon the following resolutions were presented and unanimously adopted.

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Asst Secty Office Created

Resolved by the Board of Directors of the Houston Oil Company of Texas that the office of assistant Secretary of the said Company be and the same is hereby created and that such Assistant Secretary shall have all the powers and authorities of the Secretary and may perform all of the duites of the Secretary in the absence of the Secretary his inability to act or where there is a vacancy in said office and said Assistant Secretary shall when required by the President attest with its corporate seal all corporate acts of said Houston Oil Copmany of Texas including certificates of stock deeds of trust or mortage bonds promissory notes contracts assignments or other obligations of said Company.

Thereupon motion duly seconded Mr. C. L. Atterbury was unanimously elected Assistant Secretary.

The resignation of Mr N. D. Selsbee as Director being presented was accepted and Mr R. W. Weir was unanimously elected Director to fill the vacancy.

The resignation of Mr W. W. Wilson being presented was accepted and Mr E. J. Eyres was unanimously elected Director to fill the vacancy.

There being no further business the motion to adjourn was carried.

Secretary President

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Regular Meeting August 12, 1901

Proceedings of Meeting of Board of Directors of the Houston Oil Company of Texas held at the office of the Company in the city of Houston Texas Harris County on the 12th day of August 1901 at 3 o'clock pm.

A quorum being present to wit. S. B. Cooper Joe S. Eagle B. F. Bormer E. J. Eyres R. W. Weir

The meeting called to order by Mr S. B. Cooper who was unanimously elected Chairman of the meeting in the absence of either the President or first Vice President. Thereupon on motion duly seconded the reading of the minutes of the previous meetings of the Board of Directors was dispensed with until the next meeting of said Directors.

The resignation of C. L. Atterbury as Assistant Secretary being presented upon motion duly seconded was accepted and J. A. Whitaker was unanimously elected in his stead.

Thereupon on motion duly seconded the following resolutions was presented seconded and unanimously adopted.

Issue of Timber Certificates

Resolved that the Maryland Trust Company of Baltimore Maryland be and it is hereby requested to issue Timber Certificates to an amount not exceeding Ten Million ($10,000,000) Dollars under the terms of the assignment to it by the Houston Oil Company of Texas of the Timber Contract between sail Oil Company and the Kirby Lumber Company as and when called upon to do so by the President of the Houston Oil Company of Texas.

There being no further business upon motion duly seconded the meeting adjourned.

Secretary President

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Regular Meeting August 26, 1901

Proceedings of the meeting of the Board of Directors of the Houston Oil Company of Texas held at the office of the Company in the city of Houston Harris County Texas August 26th 1901 at 4 o'clock pm.

A quorum being present to wit. S. B. Cooper Joe H. Eagle B. F. Borner E. J. Eyres R. W. Weir

The meeting was called to order by Mr Joe H Eagle who was unanimously elected Chairman of the meeting in the absence of the President and first Vice President

Thereupon upon motion duly seconded the reading of the minutes of the previous minutes of the Board of Directors was dispensed with until next meeting of said directors.

Thereupon upon motion duly seconded the following resolution was presented - seconded and unanimously adopted.

First Resolution

Ratification of Loan of $500,000 with Brown Bros and Co

Resolved - by the Board of Directors of the Houston Oil Company of Texas that the action of Thos H Franklin President in borrowing from Messes Brown Bros and Co of New York for the Houston Oil Company of Texas the sum of $500,000 for six months at 6% per annum interest and in pledging $1,000,000 of the interim timber certificates issued against the Kirby Lumber Company contract by the Maryland Trust Copmany Trustee and in executing the note of said Houston Oil Company of texas for said sum dated the 22nd day of August 1901, and in discounting same with said Brown Bros and Company be in all things approved and confirmed.

Authority to President to renew loan of $500,000

Resolved further that the President of said Houston Oil Company be and he is hereby authorized and empowered to make such renewal or extention of said loan as he may deem advisable for the interest of said Company and to continue the deposit of said collateral as security for any such executions or renewals.

Thereupon motion duly seconded the following resolution was presented seconded and unanimously adopted.

Authority to President to borrow money, etc.

Second Resolution Resolved that the President of the said Houston Oil Company of Texas ba and he is hereby authorized from time to time to borrow money for said Company and to execute the obligations of said Company therefore and to pledge and transfer as security for such loans or any of themany of the personal property of said