Romance of American Petroleum and Gas Volume 1

Romance of American Petroleum and Gas Volume 1

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 edition. Excerpt: ...anyone and he bought nothing that was not paid for on the spot. He had no account save at the bank. When seeking a purchase he often garbed himself in dingy, old clothes and looked the part of a pooman. It is related of him that he went to Baltimore once to buy some real estate at a public sale, as an investment for idle capital. On the appointed day he rubbed elbows with elegant gentlemen, dressed in his oldest clothes. Nobody paid much attention to him until the bidding became spirited, represented six figures and was going upward $10,000 on each bid. The man in the old clothes was the most persistent bidder and a rival admonished him to be careful not to go too deep. "John pays cash for what he gets," was the reply. But the auctioneer became uneasy and requested information concerning the bidder's financial ability. "Telephone the Bank; my name's John McKeown." was the terse answer. The auctioneer telephoned to know if McKeown's check was good for $200,000. The bank promptly replied, "It's good for a million." and the sale wrent on. Mr. McKeown bought the property and it was a bargain. He paid "cash for what he got." John Benninghoff owned a farm along Oil Creek, mostly hill land, but it was the scene of very active operations from 1863 to 1869. During these years the farm produced about one million barrels of oil and the average price was four dollars a barrel. The leases were not uniform, but the average royalty was slightly more than one-fourth. The failure of the Culver, Penn & Co. banks in 866, resulted in pulling down the bank at Petroleum Center. Benninghoff was a loser to the extent of some thousands of dollars, so he purchased a safe and kept his money in his house. On the night of January...show more

Product details

  • Paperback | 148 pages
  • 189 x 246 x 8mm | 277g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236651383
  • 9781236651389