Texas United Oil Company
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Product Details
CompanyTexas United Oil Company
Certificate Type
Certificate of Interest
Date Issued
February 15, 1920
Canceled
No
Printer
Goes
Signatures
Hand signed
Approximate Size
12" (w) by 8" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
William S. Pratt started the Texas United Oil Company in July 1919. The Texas comptroller’s office reported his Dallas company produced more than 31,000 barrels of oil in the year’s last quarter.
Pratt solicited investment capital using newspaper advertisements placed across the country – in Troy, Syracuse, and Plattsburgh, New York; Spokane, Washington; El Paso, Texas, and Washington DC.
From December 1919 through 1920, company advertisements promised: For Quick Returns and Unlimited Profits Invest With the Texas United Oil Company… 27 Wells Showing Initial Production of 8,700 Bbls. Daily.
However, one investment magazine described the company as unlikely to prosper. The assessment was accurate. By December 1920, Texas United Oil Company entered into receivership and did not emerge until April 27, 1921, reorganized and with a new president, Aldred S. Wright of Philadelphia.
Despite the reorganization, Texas United Oil Company did not survive long.
United States Investor reported a year later that Texas United Oil Company had very little value.
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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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