Minutes - 48

47

Meeting of
March 10, 1902

Proceedings of the meetin of the Board of Directors of the Houston
Oil Company of texas held at the office of the Company in the
city of Houston Texas at 3 pm March 10th 1902.

A quorum being present to wit.
Joe H Eagle
F A Reicharat
E J Eyres
R W Wier
B F Bouner

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

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

In re check for
$75,300.83 to J S
Bache and Co

Whereas on January 2nd 1902 the Houston Oil Company of Texas issued
check 55035 of same date signed by its President Thomas H Franklin
of Brown Brothers Company of the City of New York for $75,300.83
to the order of J S Bache Company also of said city which said check
was delivered to J S Bache Company in payment of a loan standing
on the books in the name of Patrick Calhoun but which loan
was in fact for the use and beneft of the Houston Oil Company
of Texas - now therefore be it

Resolved by the Board of Directors of the Houston Oil Company of Texas
that it hereby acknowledge that the aforesaid indebitness though
standing in the name of Patrick Calhoun individually was in
fact for the use and benefit of said Company and that it in
fact received the benefits of said loan and that it further hereby
obligates itself to hold J S Bache Company harmless by reason of
having received in payment of said indebitness which stood in
the name of Patrick Calhoun individually the check of this
Company as above stated.

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