Phillips Petroleum Company Bond Certificate

Description

Product Details
Intricately engraved antique bond certificate from the Phillips Petroleum Company dating back to the 1970's. This document, which carries the printed signatures of the company Chairman of the Board and Treasurer, was printed by the American Bank Note Company  and measures approximately 12" (w) by 8" (h).
The vignette features a female figure, helmet, globe and a book.
Images
The images presented are representative of the piece(s) you will receive. When representative images are presented for one of our offerings, you will receive a certificate in similar condition as the one pictured; however dating, denomination, certificate number and issuance details may vary.
Historical Context
The Phillips Petroleum Company was incorporated on June 13, 1917, by brothers Lee Eldas Phillips and Frank Phillips, of Bartlesville, . Their younger brother, Waite Phillips, was the benefactor of Philmont Scout Ranch. The company was headquartered in Bartlesville.
Phillips Petroleum rapidly became a fully integrated that included oil and gas production, crude oil pipelines and refineries, and marketing of petroleum products.
Phillips Petroleum became heavily involved in the natural gas industry immediately after the discovery of the Panhandle gas field of and the Hugoton field in . By 1925, it was the largest producer of natural gas liquids in the United States.
In 1927, Phillips started up its first petroleum refinery in Borger, Texas, designed to produce as an fuel. The refinery also produced other petroleum fractions (e.g., kerosene, fuel oils). It opened its first service station, to sell gasoline, in on November 19, 1927. In 1930, the company developed its "Phillips 66" trademark: according to company lore, a Phillips official was road-testing the company's newest gasoline, commented that the car was going "like 60" when his driver replied "Sixty nothing ... we're doing 66!", all while driving on U.S. Highway 66 in Oklahoma near , resulting in the number 66 superimposed on the U.S. Highway symbol for Route 66.
Frank Phillips served as president of the company until 1938. He then turned over the presidency to Kenneth S. "Boots" Adams, but continued as chairman of the board until 1949, when he was 76 years old.
In 1942, the company bought more than 250,000 acres in the Hugoton-Panhandle gas fields and a 25 percent interest in the Panhandle Eastern Pipeline Company. In 1954, the U.S. Supreme Court decided the landmark case of Phillips Petroleum vs. State of which held that under the Natural Gas Act, the federal government should regulate the prices which natural gas producers charge when selling gas at the wellhead. Phillips then divested itself of the Panhandle Eastern Pipeline Interest, but remained a major supplier of natural gas.
World War II greatly stimulated the demand for petroleum products, especially high-octane fuel and jet fuel. Phillips turned to technology to increase the octane rating of fuels for use in advanced engines. The company invented an HF alkylation process in 1940. The American petrochemical industry took off, first making such as styrene, ethylene, propylene and butadiene. After the war, it formed a subsidiary, Phillips Chemical Company, which entered the fertilizer business by producing anhydrous ammonia from natural gas. The company then built a complex on the Ship Channel devoted to making petrochemicals and polymers.
During the 1960s, Phillips expanded its international operations, particularly with exploration in , Venezuela, and Colombia. It discovered the Ekofisk gas field in the North Sea in 1969.
In 1966, Phillips Petroleum bought Tidewater Oil Co.'s West Coast operations and rebranded its "Flying A" outlets to Phillips 66.
In 1983, Phillips Petroleum bought the General American Oil Company, a company that was headquartered in . The company was originally built by Algur H. Meadows in 1936 through a merger with oilman J. W. Gilliland and General American Finance System, a company Meadows formed with Ralph Trippett and Henry W. Peters in the early 1930s.
In late 1984, Mesa Power LP Company, led by T. Boone Pickens Jr., attempted a hostile takeover of Phillips Petroleum. After Mesa failed, Carl Icahn attempted a separate hostile takeover. Phillips remained an independent company but recapitalized with greater debt. This large debt caused Phillips Petroleum to begin selling many of its assets, including refineries, and led to the 2002 merger with Conoco.
Phillips Petroleum Corp. and Chevron Corp. combined their worldwide chemical businesses in 2000 to form a new company, Chevron Phillips Chemical Corp., LLC. This excluded Chevron's oronite additives, which remained with its former parent. Chevron Phillips is headquartered in The Woodlands, Texas.