An example of one of the many independent, entrepreneurial companies
that were active
in the early days of the heavy oil industry.
There was a popular saying in the early days of oil exploration: "Before you can find the oil, you have to find the money!" Thus it was that promoters frequented Lloydminster and the local newspaper contained advertisements, editorials, and news stories all urging locals to invest in the just-about-to-boom oil industry.
Apparently, a lot of money did flow into shares in various oil companies. The Marren-Lloydminster Oil and Gas Company Ltd. set out to sell 100,000 shares at $1.00 per share in 1927. Despite enjoying considerable enthusiasm, the company mysteriously disappeared and was never heard from again.
The Spruce Lake Holding Company Limited began in the same time period, never enjoyed the same enthusiasm, but remained active for over 10 years. A copy of one of their share certificates is produced below. It certifies that M. McKellar is the owner of TWO shares at $100 each. The certificate is dated December 20, 1928 and is signed by "Archie A. Duffield" President and "Margaret M. McKellar" Secretary-treasurer. The best guess is that Mrs. McKellar was awarded the shares as compensation for her work as Secretary-Treasure for the Company. They apparently became worthless.
A page from the Minute Book of the Spruce Lake Holding
May 23, 1936.
A Share Certificate from the Company