The Beaumont Oil Exchange and Board of Trade was established in Beaumont on April 18, 1901.
It was four months after the Lucas Gusher which blew in on January 10, 1901. The company
dealt expressly with oil stocks. This business was necessary to protect investors from
crooked operators. Spindletop was nicknamed "Swindletop" during this time.
Over 600 companies were established specifically because of the Spindletop oil fields. Most
of these companies eventually failed or were disbanded. Some went on to become giants in
the oil
industry. Among those very well known are the Gulf Company (now Chevron), Sun Oil Company,
Texaco, and Mobil Oil.
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