Share Certificate, Okanagan Coal, Oil & Gas Company Limited, November 28, 1924

Notes: In excellent vintage condition, some allowing and a few nicks and tears around the edges, but overall in fine condition. Unframed.
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Share certificate number 216 for 900 shares (of a million) to David H. Charles in the Okanagan Coal, Oil & Gas Company Limited, November 28 1924

Formed and registered in 1924, the Okanagan Coal, Oil and Gas Company sold share certificates for a dollar a share, to a multitude of who's-who of Okanagan Pioneers, and not one of them bought fewer than 500 shares. Almost a million dollars was raised.

What happened next?

There is no record of a single well being drilled under this name.

Then in 1928 the same thing happened, with shares sold in the Okanagan Oil and Gas Company Limited. Drilling began just off Sarson's Road in Kelowna in 1932. It was an optimistic and ambitious endeavour as many wanted the well to succeed so that workers could have jobs during the depression years. By spring it was evident there was no oil.

By 1936 the company was gone and so was the money.

We found records of a supreme court filing in Kelowna for
Workmen's Compensation (Plaintif)
Board Okanagan Oil & Gas Co. Ltd. (Defendent) 13/1932

Lot Name
Share Certificate, Okanagan Coal, Oil & Gas Company Limited, November 28, 1924
Media
paper certificate
Size
9 x 11 inches
Date
1924
Estimate
$30 - $40

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