Texaco Inc.
Texaco Inc.
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Product Details
Certificate Type
Debenture Bond
Date Issued
August 23, 1976
Canceled
Yes
Printer
American Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) by 8" (h)
Additional Details
NA
Historical Context
Born in the early days of the Texas oil boom, Texaco was the idea of two men with contrasting styles and outlooks. “Buckskin Joe” Cullinan was a risk-taking entrepreneur who had learned his trade in the oil fields of Pennsylvania. Arnold Schlaet was a financier whose prudence provided a valuable counterweight to Cullinan’s daring and determination.
Cullinan knew every aspect of the oil business from drilling wells and laying pipelines to running a refinery and marketing products. He had a keen eye for the potential of the sleepy agricultural region of East Texas where oil recently had been discovered. And as his nickname implied, Cullinan was a rough-hewn, forceful leader who was adept at gaining the maximum effort from his workers.
What Cullinan lacked was the financial savvy that was second nature to Schlaet. As an employee of H.P. Lapham and Co., he managed the investment firm’s petroleum interests. But despite his natural conservatism, he was so impressed with Cullinan’s plans for buying Texas crude oil at low prices and distributing it to Eastern markets that he helped Cullinan gain capital to get the venture off the ground.
Together, Cullinan and Schlaet initially founded a modest enterprise. Established in March 1901 as The Texas Fuel Company, it started out in three rooms in a corrugated iron building in Beaumont, Texas. At the outset, the company had just 12 employees, and it made up in grit what it lacked in numbers. As Pulitzer Prize winning author Marquis James wrote, “the pioneering employees…slept in their clothes and worked around the clock in the days when drinking water in the Spindletop field sold for 10 cents a cup and oil for three cents a barrel … .”
The company’s fortunes changed overnight with the discovery of oil at Sour Lake, just 20 miles from Beaumont. Renamed The Texas Company, the enterprise had a solid foundation for the growth that would mark its ascent in the decades ahead. As Texaco Inc., it would become one of the leading global energy companies with a rich history of achievements.
The famous “star” logo was created in 1903 – modeled after the five-pointed star of Texas.
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Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
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FAQ
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All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
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Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
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We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
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Returns
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Any shipping charges collected on the original order are not eligible for a refund.