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10 - PEOPLE/(H-M)/H.L. Hunt.md
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@ -29,7 +29,7 @@ Haroldson Lafayette Hunt Jr. (February 17, 1889 to November 29, 1974) was a [[Da
Hunt was born near [[Vandalia, Illinois]], the youngest of eight children, and was taught at home. He ran a cotton plantation in [[Arkansas]] until floods ended it in 1917, and in 1921 joined the oil boom at [[El Dorado, Arkansas]], as a lease broker. He claimed a fortune of 600,000 dollars by 1925, lost money in the Smackover field and the Florida land boom, and was reportedly broke again by 1930. An internal FBI memorandum of February 26, 1964, summarized the Bureau's file on these years: Hunt "was reportedly a professional gambler years ago, won an oil lease in a card game, and is also alleged to have operated prostitution activities in Arkansas several years ago." The same memorandum recorded an allegation that in 1943 he ran "a private horse race and gambling bookie establishment within his office in Dallas."[^1][^4]
On November 26, 1930, Hunt bought the discovery well and surrounding leases of the 70-year-old wildcatter [[Columbus Marion Joiner|Columbus Marion "Dad" Joiner]], whose [[Daisy Bradford No. 3]] had opened the [[East Texas Oil Field]] seven weeks earlier. Hunt had watched the drill-stem test at the well in September. He paid 50,000 dollars in cash, 45,000 dollars in notes, and a guarantee of 1.3 million dollars out of future production, and the first payment came from 30,000 dollars belonging to [[P.G. Lake]], an El Dorado clothier. The field proved to be 43 miles long and as much as nine miles wide, and Hunt's share of it eventually exceeded 100 million dollars. His [[Panola Pipe Line]] was carrying oil by December 1, 1930, and by 1932 [[Hunt Production Company]] operated 900 wells in East Texas. In 1935 H.L. Hunt, Inc., became Placid Oil, and its shares went into trusts for his six children by his first wife.[^1][^5]
On November 26, 1930, Hunt bought the discovery well and surrounding leases of the 70-year-old wildcatter [[Columbus Marion Joiner|Columbus Marion "Dad" Joiner]], whose [[Daisy Bradford No. 3]] had opened the [[East Texas Oil Field]] seven weeks earlier. Hunt had watched the drill-stem test at the well in September. He paid 50,000 dollars in cash, 45,000 dollars in notes, and a guarantee of 1.3 million dollars out of future production, and the first payment came from 30,000 dollars belonging to [[P.G. Lake]], an El Dorado clothier. The field proved to be 43 miles long and as much as nine miles wide, and Hunt's share of it eventually exceeded 100 million dollars. His [[Panola Pipe Line]] was carrying oil by December 1, 1930, and by 1932 [[Hunt Production Company]] operated 900 wells in [[East Texas]]. In 1935 H.L. Hunt, Inc., became Placid Oil, and its shares went into trusts for his six children by his first wife.[^1][^5]
In late 1936 Hunt bought the [[Excelsior Refining Company]] in [[Rusk County, Texas|Rusk County]] and renamed it [[Parade Refining Company|Parade Refining]]. Residue gas from the Parade plant was piped into the [[New London School explosion|New London school]], which exploded on March 18, 1937. Most of the families involved worked for Hunt.[^1]