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same time three
Duesenbergs, a Pierce-Arrow, a Cord, and an Austin Coupe. (As the story goes Mr. Yount walked into the Duesenberg factory and told the sales manager which three cars he wished to buy. Being quoted the cost, Yount asked if he could write out a check for all three automobiles? The sales manager looking at Mr. Yount's with a Texas address asked Mr. Yount if they could contact his Beaumont bank to confirm the check's validity? When called the Beaumont bank president inquired just how much the total would be for the cars? When told the amount the president told Duesenberg's sales manager, please have Mr. Yount make his check out for $ 50,000. He is good for it and we will cover it!) He built Spindletop Stables in Beaumont, stocked it with American Saddlebreds, and hired famous horse trainer,
39:", Frank's early life is shrouded in mystery. After his father's death at age fifty, Frank was forced to leave school and take on the mantle of additional responsibilities. In 1897, however, he and a younger brother, Sullie, left Arkansas and traveled to the Texas Gulf Coast. In the beginning, they made their living digging irrigation canals for rice farmers, and later the two became water-well drillers, until finally, they succumbed to oil fever.
81:, “The Second Prophet of Spindletop.” McLean held most of the leases at Spindletop Oil Field which by 1923, according to a majority of oil experts, had run its course. Yount took over McLean's leases, and entered agreements with other property owners in and around the old field. To the surprise of most, on November 14, 1925, Yount-Lee brought in a well that regenerated Spindletop, and from that point, the company grew by leaps and bounds.
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Upon his sudden death caused by a massive heart attack on
November 13, 1933, Frank Yount's estate was valued at over $ 8 million, and when the stockholders sold Yount-Lee on July 31, 1935, the sale amounted to $ 46.2 million, putting it as the third largest financial transaction in the United States
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On the personal side, Yount used his wealth to benefit his fellow man, and on at least two occasions during the Great
Depression, his company loaned the City of Beaumont enough money to pay its city workers. He also bought some of the most expensive and classy automobiles of the day, owning at the
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on
December 22, 1914, Yount made his mark in the area of deep drilling, much of that on the flanks of old oil fields thought to be depleted. In 1923, he moved his company from Sour Lake to Beaumont, where he and wife Pansy, bought and renovated “El Ocaso,” a magnificent mansion located on Calder
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Yount, a regent of the
University of Texas, was survived by his wife, Pansy, and their adopted daughter, Mildred Frank. He is buried at Beaumont's Magnolia Cemetery.
62:. He teamed up with another future Texas giant, John Henry Phelan, but he never made any serious inroads at discovering oil until he formed a partnership with
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to run it. Later in
Kentucky, this stable would play a very important part in the legacy of that particular breed.
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Oil Boom of 1901. At age twenty-four, Frank began his quest for oil riches that led him to such boom towns as
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YOUNT, MILES FRANK | The
Handbook of Texas Online| Texas State Historical Association (TSHA)
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Black Gold to
Bluegrass: From the Oil Fields of Texas to Spindletop Farm of Kentucky
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170:"Frank Yount, Godfather of Beaumont", TexasEscapes.com
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In
Beaumont, Yount formed a working relationship with
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Although famous in later years as the "Godfather of
165:"Miles Frank Yount", The Handbook of Texas Online
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185:American businesspeople in the oil industry
74:Avenue, known once as “Millionaires’ Row.”
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150:McKinley, Fred B., and Greg Riley.
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215:People from Monticello, Arkansas
42:Beaumont was home to the famous
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23:, died November 13, 1933, in
220:People from Sour Lake, Texas
154:. Austin: Eakin Press, 2005.
17:Miles Franklin "Frank" Yount
210:People from Beaumont, Texas
92:William Capers "Cape" Grant
19:(born January 31, 1880, in
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69:With the formation of the
46:that brought in the great
190:Businesspeople from Texas
195:Texas Oil Boom people
142:Retrieved 2014-10-30.
71:Yount-Lee Oil Company
121:Stradivarius Violins
21:Monticello, Arkansas
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64:Thomas Peter Lee
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159:Further reading
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25:Beaumont, Texas
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179:Categories
127:References
48:Spindletop
52:Sour Lake
110:See also
85:Personal
56:Saratoga
37:Beaumont
60:Batson
58:, and
31:Career
98:Death
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