Minutes - 24

23

Temporary Certificate

Incorporated under the laws of the state of Texas
Number Shares
Houston Oil Company of Texas
Capital Stock $30,000,000
Preferred $10,000,000. Common $20,000,000

This certifies that _______________ is the holder
of ______ shares of the par value of $One Hundred Dollars each
of the Preferred Capital stock of the
Houston Oil Company of Texas
full paid and non assessable transferable only on the books
of the company in person or by attorney or surrender of this
certificate properly endorsed.

The Preferred Stock is entitled to dividends out of the surplus net
profits of the Company as ascertained by the Board of Directors at rate
of but not exceeding 6% per annum payable semi-annually in each
fiscal year from and after the 1st day of July 1901, which dividends shall
be paid priority and preference to any dividends of the common
stock and shall be cumulative. In the event of the liquidation or
dissolution of the Company the holders of the Preferred Stock then
outstanding shall be entitled to receive the par value thereof out of the
funds and assets of the corporation then remaining before anything
shall be paid there from to the holders of the Common Stock.
All or any of the Preferred Stock may be redeemed at any time and upon
payment of its par value and 5% premium they are on together with all
dividends then accrued and unpaid on the stocks so redeemed.

Witness the seal of the Company and the signature of its
President and Secretary at Houston, Texas the _____ day of _____.

Secretary. President

Shares $100 Each