For a little over three-fourths of a century thousands of men in the United States have toiled to establish and develop the petroleum industry. Starting along Oil Creek in 1859, they moved up and down the Allegheny River, into West Virginia, and thence across the continent, opening up new sources of supply in Ohio, Oklahoma, Texas, California, and other States. Through their initiative, persistence, courage, resourcefulness, and vision, they created a new and magnificent industry — one typically American.

The lessons of the San Francisco earthquake and fire are constantly before any person interested in the preservation of the records of early business. So many of the actual facts will never be known because of the wholesale destruction of all the books of record of so many of the leading businesses dating back to the earliest days of commercial activity in California. For the business historian the extent of this catastrophe is far greater than the loss of the stories of individual businesses in San Francisco, insomuch as San Francisco was the financial center of not only California but Alaska, Nevada and, to a lesser degree, the Pacific Northwest. In order to tell the complete story of western business, the business historian must improvise and synthesize scattered records to get a connected account.

The Bulletin received in December an announcement of the hundredth anniversary of the Graniteville Company.

On Monday, April 13, 1840, one William Bement moved to his farm at Northumberland, west of the Hudson River and north of Albany, New York. On that same day he started a diary in which he not only meticulously recorded the conventional observations about the weather but also set down details of his activities as a farmer and considerable information about the financial side of his farming. The diary ends abruptly on Sunday, February 20, 1842, apparently because Bement's career as a farmer was then coming to a close.

Two major universities in the United States have recently added to their curriculum work in business history.

Freeman Hunt, the founder of the first general business magazine published in the United States — known today as the Commercial and Financial Chronicle — was also responsible for the publication of the first series of biographies of American business men. Biographies of mercantile capitalists and a few industrial capitalists were a regular feature of his Merchant's Magazine and Commercial Review from its beginning in 1839, and in 1855 and 1857 appeared the Lives of American Merchants edited and published by Hunt.