1865 Roberts Petroleum Torpedo Co Stock Certificate

Description

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Scripophily Trader
Antique Stocks & Bonds
Certificate Description
1865 Roberts Petroleum Torpedo Co Stock Certificate. Beautiful scripophily item with vignettes of early oil rigs and a Roberts torpedo exploding in a well. Prior to the invention of the oil well torpedo, oil wells produced only small quantities of oil for a short time. They had to be redrilled due to the build-up of paraffin and clay deposits. It was not until January 28, 1865 when Col. E.A.L. Roberts successfully discharged his eight pound torpedo, that oil production could be increased significantly. The torpedoes, which were lowered into the drilled wells, were filled with gunpowder, and ignited by a weight dropped along a suspension wire onto percussion caps in the torpedo. In later models, the gunpowder was replaced by nitroglycerin. Oil well production increased over 40 fold as a result of Roberts’ invention. Modern torpedoes are still used today. In February, 1865 E.A.L. Roberts and his brother Walter formed the Roberts Petroleum Torpedo Company. Roberts was granted a patent that gave his company a virtual monopoly on all types of torpedo used in the oil industry. This patent was vigorously fought by both oil exploration companies and other would-be torpedo producers. In August 1866, the United States Supreme Court confirmed the Roberts’ sole right to the patent. (Source: The Early Days of Petroleum, Theodore B. Robinson, Journal of the International Bond & Share Society, November 1997). Certificate is in VF condition, pen cancelled with ink stain.
Shipping Information
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Further Information about Scripophily Trader
Welcome to Scripophily Trader on eBay. I'm Tom, a dealer in antique stocks and bonds. My ebay name is Vig, short for vignette. I have been selling on ebay since the fall of 1998. I also appear at several shows each year in the Virginia and Maryland area (and occasionally in Pennsylvania). In addition, I have two other online shops, Tom's Vignettes on Ruby Lane and ScripophilyTrader. I guarantee customer satisfaction and have a nearly perfect 100% feedback score on eBay for over 20 years. All certificates guaranteed genuine, "No-Quibble" money-back guarantee, Friendly and professional service.
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