Minutes - 63

62

said contract by said Kirby Lumber Company may be applied
by said Maryland Trust Company, to the redemption of the
Preferred Stock of the Houston Oil Company of Texas, as
and when directed but the Board of Directors of said
Houston Oil Company of Texas and

Whereas said Kirby Lumber Copmany is the
owner of certain Preferred Stock of said Houston Oil Company
of Texas, and

Whereas it is deemed advisable to redeem as much
of the Preferred Stock so held by said Lumber Company
as can be redeemed under the terms of said assignment
out of the amount available therefrom for the semi-annual
payment falling due under said contract on the tenth
day of July, 1902;

Therefore be it resolved by the Board of
Directors of the Houston Oil Company of Texas that the
said Mryland Trust Company be and it is hereby directed
to apply such portion of the semi-annual payment
so due by the Kirby Lumber Company on the tenth
day of july, 1902 as maybe available for the purpose of
redemption of said Preferred Stock to the redemption of
the Preferred Stock held by the Kirby Lumber Company to
the extent same may be redeemed at the price and on
the terms provided for in said assignment of said
Lumber Contract to said Maryland Trust Company.

Lease to D. Call et. al.

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

Resolved that the Houston Oil Company of
Texas join with the Sabine Land and Improvement
Company in a lease to D. Call and Malley Eastham
for a term of five (5) years at an annual rental of two
hundred and fifty ($250) dollars payable semi-annually
in advance of two (2) acres of land at Sabine, Texas
adjoining the so-called Carlson tract and the eleven
and two-tenths (11-2/10ths) acres to be deeded to the
Higgins Oil and Fuel Company the said Carlson
tract being the location of the old Life Saving Station
and the President of the Houston Oil Company of Texas
is hereby authorized to join with said Land and Imp-
rovement Company in the execution of the said lease.

Lease to George
A Burl

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