Stock Certificate, specimenLate 1900'sAmerican Bank Note CompanyThe item shown is representative of the piece you will receive
On a barren piece of land in Harris County, Texas, just outside of Houston, a discouraged but still determined drilling crew struck “black gold” in 1917. Weeks after paychecks from the new Crown Oil and Refining Company had run dry, ‘Well Number 3’ finally spouted oil. What flowed from the well was more than just crude oil; it was the foundation of what became Crown Central Petroleum Corporation and has evolved into Crown Central LLC.
The revenue generated by ‘Well 3’ enabled the young company to construct its own refinery. One of the very first refineries built on the Houston Ship Channel, the plant opened in 1920 with lube oil as its only product. But the range of products would begin to grow with the manufacturing of gasoline in 1925, the same year the Company was incorporated as Crown Central Petroleum Corporation.
Led by Mr. Louis Blaustein, a group of Baltimore, Maryland based businessmen took notice of the growing Texas Company, and bought a 48 percent share of it in 1930. Shortly afterward, the Company purchased a tank wagon and began to sell products through a chain of 30 stations in the Houston area.
Five years later, in 1935, the Company went public and was listed on the Curb Exchange, the predecessor of the American Stock Exchange. Crown’s success continued as it pioneered the manufacturing of 100-octane aviation gasoline, which the U.S. Navy utilized in its high performance airplane engines during World War II. In 1943, the Company opened its first stations in the Baltimore area, and this marked the start of an extensive marketing and distribution chain spanning the distance between Texas and New York.
The Crown brand is currently found at outlets in Maryland, Pennsylvania, Virginia, North and South Carolina, Georgia, and Alabama. Crown became a privately-held company in 2001, and on March 2, 2005 merged into Crown Central LLC. The Company is based in Baltimore, where it has been since Louis Blaustein purchased his initial interest in Crown in 1930.MD-Maryland Oil Companies Gas Stations Specimen Pieces Under $10 Company Logo Featured