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Edwin Drake

( First Maclay New York Stock Exchange, specializing in stocks of oil companies.)

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Biography Edwin Drake
140 years ago, in June 1859, unknown Edwin Drake, nicknamed Colonel drilled the first oil well, thus founding a new industry. A little later, already a recognized authority oil Edwin Drake was the first broker, the New York Stock Exchange, specializing in stocks of oil companies. To become a real oil General, Edwin Drake had only to learn how to make money on oil. But the cream went to another.
Oil began to produce very long. Indians of the Seneca tribe, discovering in the surfaces of lakes and streams, the black substance, covered with a blanket the water surface, and then wrung it over the tub. But using oil altogether for purposes other than today. Legend has it that when in 1783 Abraham Lincoln's troops passed through western Pennsylvania, he ordered his soldiers to stay near the stream, which floated on the surface of oil, and attach it to the sick joints. Many people feel better, lifted rheumatic ailments. In 1854 was founded Pennsylvania Oil Company. Its owners have been very resourceful people and quickly brought the capital to $ 500 thousand. They rented 12 thousand. acres of land, which seemed to them promising in terms of obtaining oil, and began to produce its only known then the way - from natural oil sources. Their "oil" the plant had a small hangar, where the enterprising businessmen produced "a panacea for all ills" - packed in bottles of oil. But the high cost of advertising and distribution of goods, . well as to increase output freely floating oil, . many times superior to any of the possible medical needs, . prompted producers to seek other ways of using the product.,

. The company took the unprecedented step at the time - turned to the experts
. Shareholders no doubt that oil will certainly be revealed even any good for mankind, and therefore the properties for sale. For 526 dollars and 8 cents a professor at Yale University found that "the lamp, which uses a liquid derived from crude oil, produces more light than any previously known, are smooth, and offensive odors". This discovery was no less remarkable than the invention of the bow and arrows - the house is still covered by tallow candles or a lamp, similar to those used in ancient Rome.

. After hearing the report of the scientist, the Pennsylvania company's owners decided to activate the process of mining and the oil
. To this end, in 1857, they inexplicably hired as manager of the former railroad conductor, . who had no proper education, . no experience with oil, . but holding a diploma for the right to free travel by rail,
. So the company could significantly save on travel. This man's name was Edwin Drake Lorentin. He was 35 years old
Drake was difficult life school. His memories of childhood and adolescence, though written by a little less talented, vividly reminiscent of a similar product Gorky. Drake childhood dreamed of becoming a businessman, but was, as he himself notes, too restless. In 15 years he settled by the seller in small pavilions on the steamer, plying between Buffalo and Detroit, but soon had to leave his. It is possible that Drake, like Gorky, a senior barman took a dislike to. Anyway, career sailor failed Edwin (unlike his famous namesake Francis). Not long delayed Drake and subsequent field work. Not developed relationships with the administration or in the hotel in Tecumseh, in Michigan, or in the fabric store in New Haven and in New York. Desperate Drake returns to transport. At this time, he arranged a conductor on a railroad. It was his first, although not entirely a conscious step to glory. It is a railroad employee certificate that entitles to free travel, which he "forgot" to hand in dismissal, gave him a pass in the world oil business.

. When, in December 1857, has already signed a contract with the Pennsylvania oil company, Drake arrived in Taytesvill, he found, according to his own description, "the population of 125, no churches, two hotels"
. Drake took up oil sources. He found a place on the surface of the pond leaked oil, known in those parts under the name "Mustang ointment, and with amazement and horror began to watch the grueling process of gathering material, which has decided to link its destiny. Looking at the body smeared with oil workers, Drake made easy (as it seems now) output: the resulting liquid to the surface - only a fraction of what is hidden under the ground. "Down there should be a whole lake of oil, rushing to the surface!" - Dawned Drake. But as his dobytN "We need to dig a well. Or drill a hole "- decided beginner oilman.

The idea of drilling completely captured the Drake. Inspired by hope, he concluded with the Pennsylvania company lease on the oil-rich land and founded his own oil company Senekskuyu. Drake was triumphant, it seemed that the bird of happiness, forever slipping away from him at the last moment, finally in the hands of. He expected to receive 12 cents profit on each gallon produced its working oil. But while these were only the searchlights - for the beginning it was necessary to find out, as is technically possible to perform conceived. Lacking a strong case specialists, who will simply not there, Drake in their actions guided only by intuition. He went to the nearby salt wells (salt water pumped out, then evaporated and received its salt), where they pushed the unemployed drillers, and began to search among them appropriate specialist.
. However, faced with an unexpected difficulty: it is taken for a madman
. Because of the then dominant view, oil - is a "drop, which squeezed out of coal". It is not surprising that the first drilling foreman, with whom Drake has signed a contract, simply do not go to work. Subsequently, the master explained that he took Drake to the abnormal, which is easiest to remove, by entering into a contract and pretending that really going to come. In seriousness Drake nobody believed even when he began representing Colonel - and after the war, North and South in the military were honored, as never before. In fact, the army Drake never served, and the Colonel came up with the nickname in order to enhance its credibility in the eyes of the local population. But it did not help. "Let the colonel, but the mad Colonel" - discussing the drillers. And yet, after a long search, Drake discovered a man who could help him. Master William Smith was not only a good drillers, but also to justify his name, an excellent blacksmith, who knew how to make the necessary equipment.
Smith began to drill the first oil well in June 1859. One day after termination Smith personally went down into the well and discovered that he was half-filled with an oily liquid. "What is takoeN GryazN - asked standing at the edge of the pit Drake. "Your state!" - Briefly replied the master.
The first hole is quickly dispelled the view Drake as a madman. But in order to start making money on oil, he had to solve even a lot of problems. Oil wells did not come by itself, it had to be pumped a powerful pump. The big problem was the lack of containers for the storage of petroleum. Drake had not foreseen in advance where to pour the oil it pumped, and it poured all that turned up under the arm: the barrel of whiskey, a trough and wineskins. Summed Drake and technical illiteracy Smith. Once the master decided to check the pump and went down into the hole with a burning lamp in his hand. Oil, of course, ignited, pump and burn rig. Drake immediately proved to be bankrupt and was forced to leave the oil region of Pennsylvania.

Soon, he was already noticeable figure on Wall Street, where he became a broker to sell oil stocks. Oil fever, caused by them, has led to the emergence of cities in America, a new type of. Map of north-western district of Pennsylvania was soon dotted with names like Oil City, Hydra-policy, Petroleum, Center for the. These cities, like many others, were built on oil, but more often - only the hope of finding her. The oil business was not sustainable. Scary stories about unexplained explosions of nitroglycerin, used to "torpedo" depleting sources of continued oil well fires whipped up negative emotions. In addition, oil production still exceeds the demand for it, but because the price of "black gold" fell.
Meanwhile, trying to oil some special feeling, Drake played an active appreciation of the shares of oil companies. But as the inexorable logic of life dictated otherwise, the broker Drake broke. From Poverty was saved only a well-deserved fame of the founder and tireless promoter of a new industry - Pennsylvania lawmakers overwhelmingly voted to grant him a lifetime pension of $ 1.5 thousand. year. From the deep longing for missed opportunities Drake saved only whiskey. Died pioneer in oil production in 1880, when everyone's lips were the names have very different people, made a fortune in oil trading. One of them was John D. Rockefeller, who as a boy, in the late 50's, came to Drake to see how the new industry is born.

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Edwin Drake, photo, biography
Edwin Drake, photo, biography Edwin Drake  First Maclay New York Stock Exchange, specializing in stocks of oil companies., photo, biography
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