Minutes - 34

33

Company including any or all of the timber certificates issued or
to be issued by the Maryland Trust Company against the timber
contract of said Houston Oil Company of Texas with the Kirby
Lumber Company of Texas and from time to time to renew or extend
said loans and to continue to deposit of such collateral to secure
such extensions or renewals.

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

Third Resolution

Interest Warrants
to be engraved by
Maryland Tr Co

Resolved that the Maryland Trust Company be and it is hereby
authorized to have engraved upon the interest warrants to be annexed
to the certificates of beneficial interest under the assignment by
this Company of hte timber contract with the Kirby Lumber Company
a fae-simile of the signature of its Treasurer or other proper officer
in lieu and instead of the actual signature of such officer this
authority and consent to stand and be of the same effect as if
provision thereof were made in the said deed of assignment.

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

Fourth Resolution

5% Commission
to Maryland
Tr Co for services

Resolved by the Board of Directors of the Houston Oil Company of
Texas that the Maryland Trust Company be paid by said
Houston Oil Company of Texas for the services rendered by said
Trust Company in the organization of said Oil Company and
securing subscriptions to the preferred stock of said Oil Company
five per cent on all such preferred stock placed whether done
directly by said Maryland Trust Company or others and the
President of the Houston Oil Company of Texas is authorized to pay
same in due course to said Maryland Trust Company.

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

Secretary President