Philadelphia and California Petroleum Co. - 1865 dated Stock Certificate
Inv# OS2077 Stock
Pennsylvania
Stock printed by J. Haehnlen, Phila. with 25 cents revenue stamp! Civil War era dated! Uncancelled and not negotiable. Left margin clipped.
The Philadelphia & California Petroleum Company, drilled wells in the Ojai region between 1865 and 1867; one became California's first "gusher." As early as 1856 a company began working the tar pits at La Brea Ranch, near Los Angeles, distilling some oil.
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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