Minutes - 58

57

Meeting of
July 7, 1902

Proceedings of a meeting of the Board of Directors of
the Houston Oil Company of Texas held at the office of the
Company in the city of New York on the 7th day of July
1902, at 3:30 pm.

A quorum being present, to wit:
Thos H Franklin
S B Cooper
Thornwell Mullally
Jay O Moss
S L Shober Jr.

The meeting was called to order by Mr. Thos H. Franklin
whereupon on montion duly seconded the reading of the minutes
of the previous meeting of the Board of Directors was waived until
the next meeting of said Board.

Election of Pat-
rick Calhoun as
a Director

The resignation of F A Richardt as a director was pre-
sented and on motion duly seconded, the same was accepted
and Patrick Calhoun was unanimously elected a director in
his stead.

Election of J. A. Whitaker
as a Director

The resignation of B F Borner as a director was presented
and on motion duly seconded, was accepted and J A Whitaker
was unanimously elected a director in his stead.

Election of P B McLaran
as a Director

The resignation of Joe H Eagle as a director was pre-
sented and on motion duly seconded, the same was accepted
and P B McLaran was unanimously elected a director
in his stead.

Notes executed
by the President
ratified:
May 14/02 $200,000
July 3/02 $320,000

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

Whereas on the 14th day of May, 1902, the President of
the Houston Oil Company of Texas executed the note of said
Company to Patrick Calhoun or order for $200,000, due 90 days
after said date, bearing 6% per annum interest; and

Whereas, on July 3rd, 1902, the President of said Oil
Company executed the note of said Company for $320,000,
payable October 8th, 1902, to Patrick Calhoun, or order, bearing
6% per annum interest; and

Whereas said notes were executed under the authority
conferred upon said President by the By-laws of the said Oil
Company and by resolutions heretofore passed by the Board of
Directors; and

Whereas said notes were executed to cover a portion of
the indebtedness due by the Houston Oil Company of Texas
to Patrick Calhoun:

Therefore be it resolved that the action of the President
in so executing said notes as the obligations of the said