The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-02-09

Is. The stocks cf the various Standard
OH companies held In trust by said trus-
tees shall hot be sold. assigned or trans
ferred by said trustees or by the bene-
iiciaries. or by both combined, so long as
this trust endures. The stocks and bonds
OF other corporations held by said trustees
may be by them exchanged or sold and the
proceeds thereof distributed pro rata to
the holders of trust certificates or said
proceeds may be held and re-invested by |
said trustees for the purposes and uses OF
the trust; provided. however. that said |
| trustees may. from time TO time, assign
such shares Of stock of said Standard Oh
| companies as may be necessary TO qualify |
any person or persons chosen TO be |
! chosen az directors and officers of any OF |
| said STANDARD oil companies.
H. II shall be the duty of said trustees |
| to receive and safely keep all interest and
| dividends declared and paid upon any of |
| the said bonds, stocks and moneys held
by them In trust and to distribute ali
moneys received from such sources or
from sales of trust property or otherwise
by declaring and paying dividends upon
| the Standard trust certificates as funds
accumulate. which, In their Judgment. are
not needed for the uses and expenses OF
said trust. The trustees shall, however,
keep separate accounts Of receipts from
interest and dividends and of rcce pts from
| sales or transfers of trust property. ana IN
making any distribution of trust funns
In which moneys derived from sales or
transfers shall he included. shall render
the holders of trust certificates state
mcnt showing what amount of the funu
distributed has been derived from such
sales or transfers. The said trustees may
be also authorized and empowered by
vote of n ma iority In value of holders OF
trust certificates whenever stocks or
bonds have accumulated IN their hanus
from money purchases thereof or tne
stocks or bonds held by them have IN.
creased In value or stock dividends shali
have been declared by any of the com
nantes whose stocks are held by saiu trus-
| tees or whenever from any such CAUSE ~
deemed advisable to do so, To increase 'iie
. | amount Of trust certificates 10 the extent
OF such increase or accumuau n OF N"luca
= and 20 divide the same among the per-
{ sons then owning trust certificates pro
l rata.
e IL. II shall be the duty Of said trustees
, 10 exercise general supervision over the
ncotrs az said several STANDARD OH COM
{ anies and ms far us practicable over the
,tber conpanics or partnerships, any por'
e ton Of whose stock is held In sa'u trust.
e Ii shall be their duty As stockholn'rS q,
5 said company to elect as "irev'u.s ~
officers thereof faithrl and competeht
y mon They may elect themselves to such
r positions when they see fit sn e do, ana
t shnu sndeavor to have the aHalrs OF sa u
d companies managed and directed ~ w
y manner they may deem most coIu"'N - T.,
c ! tho best interests OF th' H1'''N'" " 49,"
u trust certificates
e ia All the mowers Of the trustees may pc
n .xsrc,sed by A majority Of their number.
=. They may appoint from their own num-
i her an executive and other committees
l. A majority of each committee shall eXer-
II c,so ALI the powers which the trustees may
u confer upon such committee.
nd 1uV
,e .,.,,o,.s az thcv deem
le sue" @se"'' ''''' ,,
y necessary III the thaiase"V"N " ~
II trust
ID 80 uoo,, ,rrs,oo sboil No entitled IN n
" ''
J. salary Tor ms services not eNVeeui"s
ii So, 900 per annum except the president OF
le tb. hoard who NAV no voted n salary not
~ a.,
IL eNcesuus souu'p per dnnun' whloh saia'-
i.s sht'' W. "Nou ny So'u p'"lu oi ,t'isl',,s We,
r. All salaries auu expenses cpnhtvlou WIN
n or growing out 81 'he trust shah o. pa'V
sr ny me trustees from 'llo 'ruS. ,u,u'
ne ~ ne puHru vi i"7'rNs FIia,i nav "
De pruhclPai oll'tr III we Vl,S OF NeW io'N
O. uli'sS cl'hSc" wy WV VI wv t,"Sl''S GU
,e Whlch ohl'n or III some pihc' OF h"i' az
RS posi- IN Salo Guy ''e noiius anu H'ochA
T. shHH ne hep'' ne HuS'e'a Sna'i ""''
" power tn aaop' r"l.s anu reEui" 'lo"s per
l. tanning to the meetings of the board, th,
VI election OF oHloerS anu w" NiahaHttneht 'i
re the trust
ty 90 The trustees shan render at each nm
ns nual meeting n statement OF the HHht'
vs. OF the trust II termination OF th' tI".
H. he agreed upon. as hereinafter proVidtd
IS or WITHIN a rensonaplc une prior 10 us
st termination by lapse az time, the trustee
id shall furnish 70 the holders OF the ltN9'
is certuchios tru" anu perfect lnNt"'"'H
e, ana aIp'alsrmeht or an STOCKS ana o,h''
~ properly held IN trust ana statement OF
H1HNH. |u "a ff