The Los Angeles Oil Exchange was a regional stock exchange in Los Angeles, California . Founded in 1899, in 1900 the name was changed to the Los Angeles Stock Exchange . In 1956, it merged into the Pacific Coast Stock Exchange .
6-722: The Los Angeles Oil Exchange was organized in 1899 by a group of oil company owners, including Wallace Hardison . The Exchange's first trading session was on February 1, 1900. In December 1900 the name was changed to the Los Angeles Stock Exchange. The Exchange absorbed the California Oil Exchange in September 1900 and the Los Angeles Nevada Mining Exchange in September 1909. During the early development of
12-580: A lemon processing company. After John D. Rockefeller had effectively taken control of the Western Pennsylvania oil fields, Hardison and Lyman Stewart went to Santa Paula in Ventura County , Southern California in 1883 to develop newly discovered oil fields there. The original venture was called Hardison & Stewart Oil Company. A few years later, Stewart and Hardison joined forces with Thomas Bard and Paul Calonico to form
18-602: The Union Oil Company of California . Hardison eventually sold out his share of Union Oil and invested a portion of the proceeds to form Inca Mining Company , which controlled a Peruvian gold mine called the Santo Domingo. This new company had a subsidiary named the Inca Rubber Company, which collected rubber on land granted to them by a concession. Wallace Hardison was killed when his car
24-533: The Los Angeles City Oil Field , no single firm had a dominant share. Drillers started their own companies, flooding the local stock exchange with shares of start-up oil firms. There were so many of these that the Los Angeles Stock Exchange had to open a separate facility just to deal with oil stocks. The Exchange changed locations frequently in its early years, until finally locating to 618 South Spring Street in downtown Los Angeles in 1931 in
30-943: The Los Angeles Stock Exchange Building , remaining there until February 1986. Needing more space, the trading floor was moved to the Pacific Stock Exchange building at 233 South Beaudry Avenue, but it was closed in May 2001. In 1956, the San Francisco Stock and Bond Exchange and the Los Angeles Oil Exchange merged to create the Pacific Coast Stock Exchange , with trading floors in both cities. Wallace Hardison Wallace Libby Hardison (August 26, 1850 – April 10, 1909)
36-683: Was a co-founder of the Union Oil Company of California , later known as Unocal . He later founded the Inca Mining Company and its subsidiary, Inca Rubber Company . Hardison was born in Caribou , Aroostook County, Maine , the youngest of eleven children. He followed his brother, James Henry Hardison, to the oil fields of Western Pennsylvania . At first, they worked as field hands, but eventually befriended Milton and Lyman Stewart . Wallace Hardison also co-founded Limoneira
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