Eureka Oil Co. - 1865 dated Pennsylvania Oil Stock Certificate
Inv# OS2138 Stock
West Virginia
Stock printed by Wm. Mann, Phila. 25 cents revenue stamp! Civil War era dated!
The oil rush in America began in Titusville, Pennsylvania, in the Oil Creek Valley when Edwin L. Drake discovered “rock oil” there in 1859. Titusville and neighboring towns experienced rapid growth as oil wells and refineries sprang up across the region. Oil quickly became a highly valued commodity in the United States, leading to the expansion of railroads into Western Pennsylvania to transport petroleum to other parts of the country.
By the mid-1870s, the oil industry had matured, and the “rush” to drill wells and control production had come to an end. Pennsylvania’s oil production reached its peak in 1891 and was later surpassed by states like Texas and California. However, some oil industry remains active 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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