Petroleum Centre Co. - 1865 dated Stock Certificate
Inv# OS1895A Stock
Stock with 25 cents revenue stamp! Venango County, Pennsylvania. Uncancelled and not negotiable.
As the name implies, Petroleum Center was developed during the Pennsylvanian oil rush of the mid-19th century. The first well was drilled on the George Washington McClintock Farm in 1860. Soon, a small community grew about half way between Oil City and Titusville. George Henry Bissell, James Bishop and others formed the Central Petroleum Company which owned the farm in the beginning of 1866, when daily production topped 1,000 barrels per day. By the summer of 1866, over 3,000 people called the Centre home with a bank, two churches, a theater, a half-dozen hotels/boarding houses, and stores serving all the needs of the growing community. Bissel & Co. Banking House stimulated economic growth with its direct ties to financial institutions in New York City. President Ulysses S. Grant visited the town in 1871. When a fire devastated the nearby town of Pithole, Pennsylvania, that town's newspaper, the Pithole Daily Record, was relocated to Petroleum Center. The town was founded in 1866 and was essentially abandoned after 1873.
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.
Ebay ID: labarre_galleries