1864 BUCHANAN FARM OIL COMPANY STOCK CERTIFICATE

1864 BUCHANAN FARM OIL COMPANY STOCK CERTIFICATE (image 1/1)
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Very interesting lithographed stock certificate for 100 shares in The Buchanan Farm Oil Company, depicting allegorical engraving of a woman at left, a miner in vintage garb with pick axe at right, excellent, extremely detailed vignette of an oil drilling operation at center, to Pricilla H., Jones, issued at New York City, Sep 27 1864, signed by S. T. Jenkins, Secretary and Frederick W. Jones, President, printer's tag of "R. E. Corlies & Macy, Stationers, 35 Nasau St., N.Y." at bottom left above frame. Stamped (in blue) at left, "Capital Reduced, Sept 9th 1868, to $400,000 [originally $4,000,000], Shares $1.00 each." Note 25c U.S. Internal Revenue stamp at lower right. Frederick W. Jones, mentioned above, who in Apr 1864, had formed the United States Petroleum Company with J. Nelson Tappan, began drilling for the United States, or Frazier, Well, in Jun 1864, in Pithole, Pennsylvania, now a ghost town. In the mid-1860s Pithole was a oil boomtown with a population of approximately twenty thousand people. On Jan 7 1865, the Frazier Well pumped its first oil. At its peak Pithole had at least 54 hotels, the third largest post office in the state, a newspaper, a theater, a railroad, the world's first oil pipeline and a red-light district "the likes of Dodge City's." But by the next year, 1866, economic growth and oil production in the town read more
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