1902 Alabama Texas Oil Co Stock Certificate NO RESERVE!
Coins and Paper Money :: Scripophily
1902 Alabama Texas Oil Co Stock Certificate NO RESERVE!
I AM LISTING A NICE GROUP OF ORIGINAL EARLY STOCK CERTIFICATES FOR MINING AND OIL COMPANIES, SO IF THAT IS WHAT INTERESTS YOU PLEASE CHECK MY OTHER AUCTIONS!!! ORIGINAL old stock certificate for the Alabama-Texas Oil Company. Dated Mar. 29, 1902. Doesn't say it's from Beaumont, Texas but found with others from there that were same era. Made out to Marie Tiernan. Spindletop is a salt dome oil field located in south Beaumont, Texas (approx. 30.02 -94.07) in the United States. On January 10, 1901, a well at Spindletop struck oil ("came in"), marking the birthdate of the modern petroleum industry. At 100,000 barrels (16,000 m³) of oil a day, the gusher tripled U.S. oil production overnight. Some of the companies chartered to exploit the wealth of Spindletop, such as Gulf Oil and Texaco, are part of today's Chevron Corporation. There had long been suspicions that oil might be under "Spindletop Hill." The area was known for its sulfur springs and bubbling gas seepages that would ignite if lit. In August 1892, George W. O'Brien, George W. Carroll, Pattillo Higgins and others formed the Gladys City Oil, Gas, and Manufacturing Company to do exploratory drilling on Spindletop Hill. The company drilled many dry holes and ran into trouble as investors began to balk at pouring more money into drilling with no oil to show for it. Pattillo Higgins left the company and teamed with Captain Anthony F. Lucas, the leading expert in the U.S. on salt dome formations. Lucas made a lease agreement in 1899 with the Gladys City Company and a later agreement with Higgins. Lucas drilled to 575 ft (175 m) before running out of money. He secured additional funding from John H. Galey and James M. Guffey of Pittsburgh, but the deal left Lucas with only a small share of the lease and Higgins with nothing. Lucas continued drilling and on January 10, 1901, at a depth of 1,139 ft (347 m), what is known as the Lucas Gusher or the Lucas Geyser blew oil over 150 ft (46 m) in the air at a rate of 100,000 barrels per day (16,000 m³/d)(4,200,000 gallons). It took nine days before the well was brought under control. Spindletop was the largest gusher the world had seen and catapulted Beaumont into one of the United States' first oil-fueled boomtowns. Beaumont's population of 10,000 tripled in three months and eventually rose to 50,000. Speculation led land prices to increase rapidly. By the end of 1902 over 600 companies were formed and 285 active wells were in operation. Production began to decline rapidly after 1902, and the wells produced only 10,000 barrels per day (1,600 m³/d) by 1904. On November 14, 1925, the Yount-Lee Oil Company brought in its McFaddin No. 2 at a depth of about 2,500 feet (760 m), sparking a second boom that completely eclipsed the first discovery. Over the next ten years, over 72 million more barrels of oil were produced, mostly from the newer areas of the field. Spindletop continued as a productive source of oil until about 1936. It was then mined for sulfur from the 1950s to about 1975. The city of Beaumont was named by Henry Millard for the family of his deceased wife, Natchez, Mississippi, belle Mary Dewburleigh Barlace Warren Beaumont. Millard came to Texas in 1835 and, along with his business partners, purchased some land between the settlements of Tevis Bluff and Santa Anna. On this property, they founded the city of Beaumont. Beaumont became a town on December 16, 1838. Joseph Perkins Pulsifer was a founding citizen of Beaumont. His firm, J.P. Pulsifer and Company, donated the first 50 acres upon which the town was founded. Beaumont's first mayor was Alexander Calder. Beaumont was a small center for cattle raisers and farmers in its early years, and with an active riverport by the late 1800s, it became an important lumber and rice-milling town. The Beaumont Rice Mill, founded in 1892 by Joseph Eloi Broussard, was the first commercial rice mill in Texas. Beaumont's lumber boom, which reached its peak in the late 1800s, was due in large part to the rebuilding and expansion of the railroads after the Civil War. By the early 1900s, the city was served by the Southern Pacific, Kansas City Southern, Atchison, Topeka, and Santa Fe, and Missouri Pacific railroad systems. Oil was discovered at nearby Spindletop on January 10, 1901. Spindletop became the first major oil field and one of the largest in American history. With the discovery of oil at Spindletop, Beaumont's population grew from 3,296 in 1890 to 9,427 in 1900. A race riot took place in Beaumont in June 1943 after a white woman said she had been raped by a black male. In 1996, the Jefferson County courts, located in Beaumont, became the first court in the nation to implement electronic filing and service of court documents, eliminating the need for law firms to print and mail reams of documents. In 2005, Beaumont and surrounding areas suffered extensive damage from Hurricane Rita. A mandatory evacuation was imposed upon its residents for about two weeks. Please look at the photos to get an idea of what this is. I am not an expert, so please feel free to ask any questions, and I will answer them the best way I can. I may not be able to answer your questions immediately, but every question will be answered. Please try to ask questions before the last day of the auction because I am not always around to answer them then. INTERNATIONAL BUYERS ARE WELCOME TO BID, I WILL GIVE INTERNATIONAL SHIPPING QUOTE AT END OF AUCTION, IT WILL ONLY BE THE COST OF SHIPPING TO ME PLUS MATERIALS. All items being listed this week are consignments so please do not bid if payment will be delayed. Realistic reserve set just to protect my investment, if there is a reserve at all. I am not interested in selling off of ebay so please do not ask, HOWEVER I collect early photographs and relics and would entertain trade offers, please check out my ME page for more info. If reserve is not met high bidder will get first chance at buying item. Payment by Money Order or Check ok, although US Postal money order is prefered. Payment must be recieved within ten days of close of auction. California residents must add 7.75% sales tax to their purchase unless they hold a valid California resale permit. If you have a permit please include it when sending your payment so that I can have it on file. Insurance will be added to purchase price at end of auction based on sale price. All items sold as-is unless I misrepresent something. Good luck and thanks for looking!!! | ||||||||||||
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