Minutes - 26

25

Special Meeting
July 17, 1901

Proceedings of special meeting of the Board of Directors of the
Houston Oil Company of Texas held at the office of said Company
in Houston, Texas on the 17th day of July AD 1901.

The meeting was called to order by the President Mr. Thos H Franklin and
on call of the roll the following members answered to their names
S.B. Cooper
Thos H. Franklin
W. W. Wilson
B.F. Bouner?
Joe H. Eagle
A quorum being present to the president announced that the business
of the meeting would now be proceeded with.

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

Thereupon the following resolutions were presented seconded and
unanimously adopted.

Assignment of
Contract between
H. O. Co and Jno
H. K. to Md Tr Co

Whereas the Houston Oil Company of Texas at a meeting of
its original incorporators and Board of Directors held in the
city of Houston on the 9th day of July 1901, duly adopted amongst
other the following bylaws.

"The Board of Directors shall have the power and authority to
mortgage, pledge or otherwise encumber any or all of the
property of the Company to secure any indebtedness that may be
incurred in the acquirement of property by the corporation or in
the conduct of its corporate business or in securing any obligation or
obligations said Corporation may enter into to endorse or guarantee
any certificate of beneficial interest that may be hereafter be issued
by any Trust Company or other organization at the instance of
this corporation against or in or to any contract or contracts of
sale of any timber growing upon and of the lands of said
Company or against or in any or to any of the lands of said
Company, proceeds or avails of any such contract or contracts.

And where as said corporation has entered into a certain stumpage
contract with John H Kirby whereby he agrees to cut and pay for
Eight billion 8,000,000,000 feet of lumber from the timber upon said
lands for so much thereof as can be cut on said lands which said
contract is set out in the proceedings of the Board of Directors of said
corporation at said meeting held on the 9th day of July 1901, to which
reference is hereby made and