Densmore Oil Co. - 1864 dated Pennsylvania Oil Stock Certificate
Inv# OS1997 Stock
Stock printed by Stein & Jones lith, Phila with 25 cents revenue stamp! Civil War era dated! Venango County, Pennsylvania. Uncancelled and not negotiable. Top and left side border clipped.
The oil boom in America commenced in Titusville, Pennsylvania, within the Oil Creek Valley, with Edwin L. Drake’s discovery of “rock oil” in 1859. Titusville and its neighboring towns experienced rapid growth as oil wells and refineries proliferated across the region. Oil swiftly ascended to prominence as a highly sought-after commodity in the United States, catalyzing the expansion of railroads into Western Pennsylvania to facilitate the transportation of petroleum to other regions of the country.
By the mid-1870s, the oil industry had matured, and the “rush” to drill wells and exert control over production had concluded. Pennsylvania’s oil production reached its zenith in 1891, only to be subsequently surpassed by states such as Texas and California. Nevertheless, certain segments of the oil industry continue to operate in Pennsylvania.
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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