Point Arena Petroleum Mining Co. - 1864 dated California Oil Stock Certificate
Inv# OS2382 Stock
Stock printed by Geo. H. Baker with 25 cents Washington revenue stamp! Civil War era dated!
In the early 1900s, the Point Arena Petroleum Mining Company of San Francisco was established to capitalize on the potential oil resources situated along the rugged Mendocino County coast of California. Recognizing the growing demand for energy, the company conducted a comprehensive survey of the area, prioritizing geological formations where oil shale and bitumen deposits had been identified. Despite the enthusiastic early 20th-century exploration activities, the operations at Point Arena did not yield commercially viable oil quantities, resulting in the swift abandonment of most drilling endeavors in the region.
The company’s search coincided with an intense period of oil exploration across California, which followed the significant and successful oil strikes in the southern part of the state. Unlike the prolific wells in the San Joaquin Valley, the deposits near Point Arena were insufficient to sustain a long-term oil industry. Consequently, the company was ultimately unable to establish a profitable enterprise. Presently, the area is more renowned for its dramatic coastline and the historic lighthouse rather than for the brief and unsuccessful oil venture attempted in the early 1900s.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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