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UOP, Inc. (United Oil Products)

$8.00

SKU: 3271
Product Details

Nicely engraved antique stock certificate from UOP, Inc. dating back to the mid 1970's. This document, which carries the printed signatures of the company Chairman/President and Secretary was printed by the Security-Columbian Bank Note Company, and measures approximately 12" (w) by 8" (h).

 

This piece's beautiful vignette features a male figure, winged wheel, globe, books, sledgehammer, ship, train, oil wells and an oil refinery.

You will receive the exact certificate pictured.

    Historical Context

    UOP was founded in 1914 to exploit the market potential of patents held by inventors Jesse A. Dubbs and his son, Carbon Petroleum (C. P.) Dubbs. Perhaps because he was born in Pennsylvania oil country, Jesse Dubbs was enamored with the oil business. He even named his son Carbon after one of the elemental constituents of oil. Later, Carbon added the P. to make his name "euphonious," he said. People started calling him "Petroleum" for fun, and the name stuck. C. P.'s son and grandson were also named Carbon, but each had a different middle initial.

    When founded in 1914 it was a privately held firm known as the National Hydrocarbon Company. J. Ogden Armour provided initial seed money and kept the firm going the first years it lost money. Most of the losses were incurred during lengthy legal battles with petroleum firms that were using technology patented by Dubbs.

    In 1919 the firm's name became Universal Oil Products.

    By 1931, petroleum firms saw a possible competitive advantage to owning UOP. A consortium of firms banded together to purchase the firm. These firms were Shell Oil Company, Standard Oil Company of California, Standard Oil Company of Indiana, Standard Oil Company of New Jersey, The Texas Company, and N. V. de Bataafsche Petroleum Maatschappij. This worried oil firms that were not part of the group and it helped prompt the Justice Department to begin an investigation of this arrangement as a possible violation of antitrust laws.

    The oil firms placed the assets of UOP into a trust to support the American Chemical Society. In 1959 UOP went public and the income from that sale still provides monies to the American Chemical Society to administer grants to universities worldwide.

    In August 1988 Union Carbide Corporation and AlliedSignal formed a joint venture combining the latter's wholly owned subsidiary, UOP Inc., and the Catalyst, Adsorbents and Process Systems (CAPS) business of Union Carbide.

    AlliedSignal acquired Honeywell in 1999 and assumed the latter's name. In 2005, what was now known as Honeywell acquired Union Carbide's stake in UOP, making it again a wholly owned subsidiary. The reported payment to Union Carbide was $835 million, valuing UOP at $1.6 billion.