Lewis Haines Wentz
Encyclopedia
Lewis Haines Wentz was an American oil businessman
.
on November 10, 1877, was an essential factor in opening up the oil fields of Oklahoma
. Reared in Pittsburgh, Pennsylvania
Wentz was too poor for college and started out by organizing a semi-professional baseball team and was a playing manager. His second business venture happened when he was coaching high school baseball and campaigning door to door for the GOP
when he rang the bell of the very wealthy John G. McCaskey
. McCaskey had made a huge fortune in the sauerkraut
business and had recently become an investor and President of the 101 Ranch Oil Company
located on the Miller Brothers 101 Ranch property in Ponca City, Oklahoma
. Wentz soon went to work for McCaskey in his sauerkraut operation.
and E. W. Marland
's 101 Ranch Oil Company. He was present on June 11, 1911 when that company's first oil well "Wilie-Cries-For-War" came in. Shortly thereafter, McCaskey gave Wentz a chance to join the 101 Ranch Oil Company
as Company Secretary.
Through his association with the 101 Ranch Oil Company Wentz became interested in the oil business and in a few years, with money provided by McCaskey and another partner, Joseph M. Weaver, Wentz began gathering lease land in Northwest Kay County
and soon the McCaskey-Wentz Company was developed.
The Company's leases covered a wide range around Ponca City. Early strikes were at the Mervien Oil Field east of Kildare
, next came a lease in the Three Sands area near Tonkawa
.
In 1924, after McCaskey's death, Wentz began to seriously develop the Three Sands fields. The McKee lease in the sands was one of the best producers in north central Oklahoma.
Three years later Wentz bought out his partners and formed the Wentz Oil Corporation that by the end of 1927 was making $1 million a month. He was then one of the seven richest men in the nation, having reported taxable income among the top seven individuals reporting in 1927. This ranked him with Henry Ford
, J. D. Rockefeller and J. P. Morgan
.
and public golf course
(originally known as Lakeside, now renamed Lew Wentz Memorial Golf Course) for Ponca City. He established a boys and girls camp (Wentz Camp) in Ponca City and a wild game sanctuary near Ponca City. All of these facilities remain in operation to this day.
Wentz established foundations for student loan
s and Project Awards at four Oklahoma colleges/universities under the nomenclature the Lew Wentz Foundation. When Wentz sold his oil interests just before the 1929 crash he increased his support for higher education
at these colleges. Shortly before his death on June 9, 1949 he acquired a number of Texas oil leases. Upon his death he left an estate worth $25 million and each of the colleges received additional millions for the Wentz foundation.
Lew Wentz never married. His residence was primarily a suite at the Arcade Hotel in Ponca City, OK.
Petroleum industry
The petroleum industry includes the global processes of exploration, extraction, refining, transporting , and marketing petroleum products. The largest volume products of the industry are fuel oil and gasoline...
.
Early life
Lewis Haines Wentz, (Lew Wentz) born in Tama, IowaTama, Iowa
Tama is a city in Tama County, Iowa, United States. The population was 2,731 at the 2000 census. Tama is located a few miles from the Meskwaki Settlement, Iowa's only significant Native American community. Tama was located on the historic Lincoln Highway and is home to an original Lincoln Highway...
on November 10, 1877, was an essential factor in opening up the oil fields of Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
. Reared in Pittsburgh, Pennsylvania
Pittsburgh, Pennsylvania
Pittsburgh is the second-largest city in the US Commonwealth of Pennsylvania and the county seat of Allegheny County. Regionally, it anchors the largest urban area of Appalachia and the Ohio River Valley, and nationally, it is the 22nd-largest urban area in the United States...
Wentz was too poor for college and started out by organizing a semi-professional baseball team and was a playing manager. His second business venture happened when he was coaching high school baseball and campaigning door to door for the GOP
Republican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
when he rang the bell of the very wealthy John G. McCaskey
John G. McCaskey
John Gruard McCaskey was an American oil businessman.-Early life:John Gruard McCaskey born in Pittsburgh, Pennsylvania on July 3, 1874, was an essential factor in opening up the oil fields of Oklahoma and Texas...
. McCaskey had made a huge fortune in the sauerkraut
Sauerkraut
Sauerkraut , directly translated from German: "sour cabbage", is finely shredded cabbage that has been fermented by various lactic acid bacteria, including Leuconostoc, Lactobacillus, and Pediococcus. It has a long shelf-life and a distinctive sour flavor, both of which result from the lactic acid...
business and had recently become an investor and President of the 101 Ranch Oil Company
101 Ranch Oil Company
Founded in 1908 by oil exploration pioneer E. W. Marland, The 101 Ranch Oil Company was located on the famous Miller Brothers 101 Ranch and headquartered in Ponca City, Oklahoma...
located on the Miller Brothers 101 Ranch property in Ponca City, Oklahoma
Ponca City, Oklahoma
Ponca City is a small city in Kay and Osage counties in the U.S. state of Oklahoma, which was named after the Ponca Tribe. Located in north central Oklahoma, it lies approximately south of the Kansas border, and approximately east of Interstate 35. 25,919 people called Ponca City home at the...
. Wentz soon went to work for McCaskey in his sauerkraut operation.
Oil Business Ventures
In 1911, Wentz at the age of 34, was sent to Ponca City, to check on McCaskey's investments with the Miller Brothers 101 RanchMiller Brothers 101 Ranch
The Miller Brothers 101 Ranch was an cattle ranch in the Indian Territory of Oklahoma before statehood. Located near modern-day Ponca City, it was founded by Colonel George Washington Miller, a veteran of the Confederate Army, in 1893. The 101 Ranch was the birthplace of the 101 Ranch Wild West...
and E. W. Marland
E. W. Marland
Ernest Whitworth Marland was an American lawyer, oil businessman, and politician who served as the tenth Governor of Oklahoma.-Career as an Oilman:...
's 101 Ranch Oil Company. He was present on June 11, 1911 when that company's first oil well "Wilie-Cries-For-War" came in. Shortly thereafter, McCaskey gave Wentz a chance to join the 101 Ranch Oil Company
101 Ranch Oil Company
Founded in 1908 by oil exploration pioneer E. W. Marland, The 101 Ranch Oil Company was located on the famous Miller Brothers 101 Ranch and headquartered in Ponca City, Oklahoma...
as Company Secretary.
Through his association with the 101 Ranch Oil Company Wentz became interested in the oil business and in a few years, with money provided by McCaskey and another partner, Joseph M. Weaver, Wentz began gathering lease land in Northwest Kay County
Kay County, Oklahoma
Kay County is a county located in the U.S. state of Oklahoma. As of 2000, the population was 48,080. Its county seat is Newkirk. The largest city in Kay County is Ponca City.-19th century:...
and soon the McCaskey-Wentz Company was developed.
The Company's leases covered a wide range around Ponca City. Early strikes were at the Mervien Oil Field east of Kildare
Kildare, Oklahoma
Kildare is a town in Kay County, Oklahoma, United States. The population was 92 at the 2000 census.It was named after the town and county of Kildare in Ireland.-Geography:Kildare is located at ....
, next came a lease in the Three Sands area near Tonkawa
Tonkawa, Oklahoma
Tonkawa is a city in Kay County, Oklahoma, United States, along the Salt Fork Arkansas River. The population was 3,299 at the 2000 census.-History:...
.
In 1924, after McCaskey's death, Wentz began to seriously develop the Three Sands fields. The McKee lease in the sands was one of the best producers in north central Oklahoma.
Three years later Wentz bought out his partners and formed the Wentz Oil Corporation that by the end of 1927 was making $1 million a month. He was then one of the seven richest men in the nation, having reported taxable income among the top seven individuals reporting in 1927. This ranked him with Henry Ford
Henry Ford
Henry Ford was an American industrialist, the founder of the Ford Motor Company, and sponsor of the development of the assembly line technique of mass production. His introduction of the Model T automobile revolutionized transportation and American industry...
, J. D. Rockefeller and J. P. Morgan
J. P. Morgan
John Pierpont Morgan was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric...
.
Philanthropic activities
Wentz lived a life of service. He organized and provided funding for the Oklahoma Crippled Children's Society. He built a public Olympic size swimming poolSwimming pool
A swimming pool, swimming bath, wading pool, or simply a pool, is a container filled with water intended for swimming or water-based recreation. There are many standard sizes; the largest is the Olympic-size swimming pool...
and public golf course
Golf course
A golf course comprises a series of holes, each consisting of a teeing ground, fairway, rough and other hazards, and a green with a flagstick and cup, all designed for the game of golf. A standard round of golf consists of playing 18 holes, thus most golf courses have this number of holes...
(originally known as Lakeside, now renamed Lew Wentz Memorial Golf Course) for Ponca City. He established a boys and girls camp (Wentz Camp) in Ponca City and a wild game sanctuary near Ponca City. All of these facilities remain in operation to this day.
Wentz established foundations for student loan
Student loan
A student loan is designed to help students pay for university tuition, books, and living expenses. It may differ from other types of loans in that the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in education...
s and Project Awards at four Oklahoma colleges/universities under the nomenclature the Lew Wentz Foundation. When Wentz sold his oil interests just before the 1929 crash he increased his support for higher education
Higher education
Higher, post-secondary, tertiary, or third level education refers to the stage of learning that occurs at universities, academies, colleges, seminaries, and institutes of technology...
at these colleges. Shortly before his death on June 9, 1949 he acquired a number of Texas oil leases. Upon his death he left an estate worth $25 million and each of the colleges received additional millions for the Wentz foundation.
Lew Wentz never married. His residence was primarily a suite at the Arcade Hotel in Ponca City, OK.