The History of the Standard Oil CompanyTarbell, Ida M. (Ida Minerva)
History
The History of the Standard Oil Company
Tarbell, Ida M. (Ida Minerva)
Petroleum industry and trade -- United States -- History; Standard Oil Company -- History
ARTICLE EIGHTH
It is further mutually agreed by and between the parties hereto,
that if any doubt, question, difference, cause, or suit shall at any
time or times, hereafter, arise or happen between the said parties
to these presents, touching the construction of these presents, or
any clause, matter, or thing herein contained, or any other matters,
cause, or thing whatsoever, in any wise relating to or concerning
this agreement, and such doubt, question, difference, or dispute,
shall not be fully settled by the parties to these presents within
one calendar month after the same shall arise, then, in every such
case, upon the request in writing of either of the said parties
hereto, specifying such doubt, question, difference, or dispute, it
shall be committed and referred to the hearing and arbitration of
three disinterested persons; one of them to be chosen by the party
of the first part, another of them to be chosen by the party of the
second part, and each party on ten days’ notice in writing from the
other, shall make such choice, and appoint a disinterested person in
behalf of such party, but, if either party on such notice shall
within such ten days fail to make an appointment, the person
appointed by the other party shall choose the second disinterested
person, and the third disinterested person shall be chosen within
one calendar month next after such request; and the award, order, or
determination of the said three persons, to be chosen as aforesaid,
or any two of them, shall be binding and conclusive on the parties
hereto, and shall be performed and kept by them, without any further
suit or trouble whatsoever; provided such award, order, or
determination, be made in writing, under the hands of the said three
persons, or of any two of them, within the space of sixty days after
all the persons shall be so selected, as aforesaid. And for the
further and better enforcing the performance of the award, so to be
made, as aforesaid, the reference or submission for or in respect of
the same, may, at the option of any of the parties to these
presents, from time to time be made as a matter of course, a rule of
court in any court of record.
In witness whereof, the said South Improvement Company and
Pennsylvania Railroad Company have caused their respective corporate
seals to be hereto affixed, and these presents to be subscribed by
their respective presidents, the day and year first above written.
[SEAL]
SOUTH IMPROVEMENT COMPANY.
By P. H. WATSON,
_President_.
[SEAL]
PENNSYLVANIA RAILROAD COMPANY.
By J. EDGAR THOMPSON,
_President_.
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