The Phillips and Woodford Wells on Tarr Farm, north of Oil City, Pennsylvania, in 1873.

Oil Exchange Proposed in Pittsburgh, Jan. 31, 1863


An Oil Exchange

Pittsburgh Post, January 31, 1863

A call for a meeting of those interested in the formation of an Oil Exchange is published elsewhere. The time fixed is Monday next at ten o’clock, when producers and retailers in oil should make it a point to be present.

The fluctuations in the market during the past year have been ruinous to the trade here. It is with this view of organizing the business and securing some sort of uniformity in price that the present movement is made. A well conducted exchange, where refiners, dealers and producers can meet and exchange views.

Hear reports of stock and arrivals both here and in the East, of shipments to Europe and California, and of prices at Titusville and Oil City. Learning the true condition of demand and supply elsewhere will [tend to] regulate the business and render it less precarious than heretofore.

The oil interests of this vicinity are very large. The extent of transactions is such as to warrant commodious and well-appointed rooms. We hope to see a live “Oil Exchange” at an early day.

Genealogy of the Pittsburgh Stock Exchange (1864–1974)
Oil TradeCurb Markets1864
Train Exchanges1864
Led toPittsburgh Brokers Association1867
Replaced byPittsburgh Oil Exchange1878–1884
Merchants Oil Exchange
The Pittsburgh Petroleum Exchange1882
Stock TradeAuctioneers1 (John and Peter Davis, Alex McIlwaine, John D. Bailey
Bankers and Brokers Board1864
ConsolidatedPittsburgh Petroleum, Stock and Metal Exchange1886–1893
Led toPittsburgh Stock and Oil Exchange1894
Which becamePittsburgh Stock Exchange1896–1974
Adapted from Francis Spreng’s “The Birth of the Pittsburgh Stock Exchange.” Western Pennsylvania History (January 1975): 80.
  1. John and Peter Davis, Alex McIlwaine, John D. Bailey ↩︎

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