Catalog Archive
Auction 175, Lot 239

"[Texas Oil Map] Make Your Fortune in Oil - A Few Dollars May Bring Quick Wealth"

Subject: Texas, Oil

Period: 1920 (circa)

Publication:

Color: Printed Color

Size:
34.9 x 22.1 inches
88.6 x 56.1 cm
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This elaborate promotional piece was published by Henry Hoffman and the Union National Oil Company. Issued in four page newspaper format, it folds out to reveal a large map with the heading "MAKE YOUR FORTUNE IN OIL." The map shows the area around Breckenridge, Texas and locates the K. Stoker Gusher along with numerous other productive wells in the vicinity. It is surrounded by photo illustrations of producing wells and extensive promotional text including "Some Quick Winnings" and "Fortunes Made with Hoffman." The back page has another map showing the company's leases in Texas, Arkansas, and New Mexico. Printed in Houston by the Gulfport Printing Company. Accompanied by two copies of a letter testimonial with an order form on verso.

While Henry Hoffmann was a highly successful promoter, his methods were nothing short of fraudulent. The December 21, 1921 issue of Financial World reported that the success of a neighboring property prompted Hoffmann to heavily discount stock prices in order to raise capital quickly so he could (theoretically) emulate their financial success. Alerting the investing public to this practice, the magazine states " Never fear, Mr. INVESTOR, of losing out by not accepting this proposition for HOFFMAN never gives away anything unless it is worth nothing. His sincerity is on par with the fake Trust company he is operating in Houston, Texas, the Union Trust Co. When he asks ten cents a share for his oil stock he is putting the price just ten cents too high.” Subsequently, in 1922 the Federal Trade Commission sued Hoffman and the Union National Oil Company charging that in order to sell shares in the company they “issued and published numerous false and misleading statements and concealed or withheld other material information…thereby deceiving and misleading the purchasing public…. (Annual Report of the Federal Trade Commission for the Fiscal Year Ending June 30, 1922, p. 135). For an article on Hoffman as promoter, click here.

References:

Condition: A

Issued folding on a clean sheet with no tears or separations.

Estimate: $200 - $250

Sold for: $850

Closed on 11/13/2019

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