NOT SOLD (BIDDING OVER)
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This item WAS NOT SOLD. Auction date was 2010 Aug 19 @ 11:00UTC-4 : AST/EDT
Stock certificates from the United States and other countries around the world. Items offered cover a wide variety of collecting topics including automotive, railroads, mining, autographed and much more.
1900, California. Stock certificate for thirteen hundred and forty-one shares issued to and Signed on stub and verso by CHARLES CANFIELD (1848-1913) American industrialist and a major developer of the oil industry in Southern California. Also signed as president by EDWARD L. DOHENY (1856-1935) American oil tycoon who served as the basis for Daniel Plainview, the character portrayed by Daniel Day-Lewis in There Will Be Blood. Black / White. Vignette of an eagle perched atop a rock with a locomotive and steamships in background at top center and a vignette of an oil well at lower left. Yellow underprint. Three revenue stamps affixed at top center of recto and two affixed to verso. Blind embossed company seal. Pen and punch cancelled. After striking it rich in the Comstock silver mine, Charles Canfield moved to Los Angeles, where he invested heavily in the land boom. Losing his fortune when the market collapsed, Canfield next worked with Edward Doheny, a former prospecting partner, in an oil mining venture. Purchasing a three-acre parcel for $400, the two men first struck oil in 1892. Creating the Coalinga Oil Company four years later, Canfield helped persuade the AT & SF to convert to petroleum-fueled engines, thus initiating a new era in transportation. Expanding their oil operations, Doheny and Canfield founded Mexican Petroleum Company in 1902, which made Mexico the world’s second largest oil-producing country. In addition to the central role he played in the development of the oil industry, Canfield was also involved in real estate and helped to develop the cities of Beverly Hills and Del Mar, California. Edward Doheny, the child of Irish Immigrants, first came to Los Angeles at the age of 36 in the hopes of making his fortune. Having previously worked as a gold miner, gunslinger and even a singing waiter, the impecunious Doheny luckily learned that crude oil deposits were present below what is now Douglas MacArthur Park. Together with his former mining partner, Charles Canfield, Doheny purchased a vacant lot at the edge of Los Angeles for four hundred dollars and began digging. Using only picks, shovels and eventually a makeshift drill constructed out of a Eucalyptus tree, the two men finally struck oil in late 1892 at a depth of 460 feet. Expanding the operation throughout California and Mexico in the coming years, Doheny grew to become the richest man in American by 1925, surpassing even J.D. Rockefeller. As is often the case, Doheny’s wealth allowed him to extend his influence into the political chambers of the nation’s capital, most notably as a key figure in the Teapot Dome scandal. In 1922, Doheny and Henry Sinclair secured non-competitive land leases through the efforts of Albert Fall, a longtime friend of Doheny’s who was serving in the U.S. Department of the Interior. Though these leases themselves weren’t illegal, the fact that Fall received over four hundred thousand dollars in gifts from the two oilmen for them was. Soon, The Wall Street Journal broke the news of this arrangement, paving the way for a Senate investigation and trials. During Edward Doheny’s trial for bribery, personal tragedy struck the Doheny family when, on February 16, 1929, Ned Doheny and his personal secretary were shot and killed at Ned’s spectacular Greystone mansion. While the circumstance surrounding this tragic event remains clouded in mystery and intrigue, the loss may have played on the sympathies of the jurors, who only needed and hour to return with a not guilty verdict. Conversely, the other to key figures in the case, Henry Sinclair and Albert Fall, the latter of whom earned the dubious distinction of being the first cabinet member to service a prison sentence, were both convicted. The Petroleum Development Company was the first company to interest the railroads on the Pacific coast in the use of oil as a fuel source for their locomotives. In 1903, the AT & SF purchased the company and its properties.
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