Minutes - 41

40

Meeting
December 16,1901

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 on the 26th day of December
1901 at 3 pm.

A quorum being present the meeting was called to order bu Mr
Joe H Eagle who was unanimously elected Chariman of the meeting
in the absence of both the President and first Vice President.

Upon a motionduly seconded the reading of the minutes of previous
meeting of the Board of Directors was dispensed with until the next
meeting of said Board.

The resignation of Mr Henry T. Kent as Director being presented upon motion
duly seconded the same was accepted and Mr Patrick Calhoun was
unanimously elected in his stead.

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

Election of Patrick
Calhoun Chrman
Executive Committee

Resolved that Patrick Calhoun be and he is hereby elected Chairman
Executive Committee Houston Oil Company of Texas and as such he is
hereby given like powers and authority as the President of hte Company whether
such powers be conferred on President by BY-Laws or special resolutions and
said Patrick Calhoun as such Chairman is specifically autorized alike with
the President to sign all checks drafts or other orders for money for
said Houston Oil Company of Texas and to execute and deliver any and
all contracts for said Company in his judgement being proper and to
pledge - exchange or otherwise dispose of any or all of the Maryland Trust
Company timber certificates issued under the assignment to said Trust
Company of the Kirby Lumber Contract and to make any and all contracts
and agreements in his judgement proper for the sale pledge or exchange
or other disposition of said timber contract and to make any and all
contracts and agreements in his judgement being proper with Messes
Brown Brothers and Company as to the syndicating sale transfer or exchange
by said Brown Brothers and Company for the Houston Oil Company of Texas
of said Maryland Trust Company timber certificated any or all of htem and
generally do any and all things in his judgement mecessary or proper
to fully carry out the powers herein conferred whether the same be herein
expressly authorized or not and

President to have
same powers as
Chman Ex Com

Resolved further that the president of Houston Oil Company of Texas shall
have like powers as conferred upon the said Calhoun as Chairman of the
Executive Board in addition to the powers heretofore conferred upon said
President and that the granting to the said Calhoun of the powers
granted be the foregoing resolution shall not limit any of the powers of
the President of the Houston Oil Company of Texas it being intended
by this and the foregoing resolution that the said Calhoun as Chairman
of said Executive Board and the said President may each or either