STEWART, LYMAN. (1840-1923). American oilman and philanthropist who helped shape modern Fundamental Christianity. DS. Signed twice. (“Lyman Stewart”). 1p. Oblong 8vo. Santa Paula, February 14, 1899. A Hardison & Stewart Oil Company stock certificate, signed by Stewart as president and Alex Waldie as secretary, transferring two shares to Stewart, who has added his endorsement on the certificate’s verso as has United Petroleum Company Secretary GUY L. HARDISON (1875-1961; “Guy L. Hardison”), son of Wallace Hardison, Stewart’s partner.
Stewart’s first foray into the oil business was prompted by the discovery of oil in Titusville, Pennsylvania, near his home. In 1877, he formed a partnership with Wallace Hardison to speculate for oil, and they later sold their interests in the Western Pennsylvania oil fields to John D. Rockefeller’s Standard Oil before setting out to drill for oil in California. Their success led them to form the Union Oil Company (Unocal) in 1884, which they transformed into a successful $125 million conglomerate. Stewart used his wealth to promote conservative religious causes, including founding Los Angeles’ Pacific Gospel Mission (now the Union Rescue Mission) and the Bible Institute of Los Angeles (now Biola University), supporting missionaries in China, and, most notably, funding the publication of a multi-volume book, The Fundamentals, which laid out the tenets of what is now known as Fundamental Christianity. “Stewart’s brand of oil fever [bolstered by his religious philanthropy] reshaped religious ideas about money” helping form the philosophy “that religion and capitalism were not dichotomous forces,” (“Lyman Stewart and Early Fundamentalism,” Church History, Pietsch).
Folded and blind embossed with the company’s seal. In excellent condition.
