L. W. Currey, Inc.

(California; Oil Fields) Douglas, Lacey & Co., Bankers and Brokers, Fiscal Agents. THE OIL INDUSTRY OF THE PACIFIC COAST ... WHICH IS MAKING MILLIONAIRES OF THE FEW & FORTUNES FOR THE MANY[.] A COMPILATION OF FACTS & THEORY REGARDING THE RECENTLY DISCOVERED OIL FIELDS OF SOUTHERN CALIFORNIA FOR THE INFORMATION OF PROSPECTIVE INVESTORS [cover title]. [New York]: Douglas, Lacey & Co., 1901. 21.7x15 cm, pp. [1-2] 3-11 [12], 4 illustrations from photographs, original pictorial white wrappers printed in black, sewn. First edition. In 1901, following their successful investments in mining properties, Douglas, Lacey invested in the emerging oil industry of California. In their letter dated 19 January 1901 they proposed, following "a thorough and exhaustive investigation," to organize a company under the laws of West Virginia with a charter similar to the Standard Oil Co., "to operate, purchase, lease and develop these and other properties." That company, The Union Consolidated Oil Co., was organized 25 January 1901. It was managed by Major Horace M. Russell, a prominent southern California capitalist, clubman, bon vivant -- and oilman who had already made a fortune in gold mining (and who recommended that Douglas, Lacey plunge into the oil business). According to the UNITED STATES INVESTOR, 24 August 1901, the "company would seem to have some desirable oil properties." In 1900 California produced 4 million barrels of oil. By 1903 it had become the leading oil-producing state in the U.S., a position it traded back and forth with Oklahoma through the year 1930. Small stain to rear wrapper, a very good copy. Accompanied by the 19 January 1901 letter to investors and the mailing envelope. No copies are listed in OCLC. (#167051).

Price: $750.00