Young's company was by far the largest oil producing oil company in the area. The Addiewell oil plant was soon completed and in a very short time it became the principal plant for the manufacture of paraffin in Scotland. By the year 1877 it had taken over most other oil companies and their property in the parish.
The total value of its assets in West Calder and elsewhere amounted to £1,087,666 per annum by the year 1884. For the year ending April 1884, its profits totalled £72,925. Foreign oil had made its impact on the company however.
By 1870 ,although he had retired from the company board, Young was forced to help it out in order to keep it a viable concern. He presented it with a gift of shale valued at £120,000 , payment being deferred for a period of 4 years; £100,000 being the sum that was eventually paid back. Young also gave the company many loans and it was his technical expertise which helped it to survive.
James Young, the man who had started it all, died in 1883 at Kelly, overlooking the Forth of Clyde. He was buried at Inverkep.
The total value of its assets in West Calder and elsewhere amounted to £1,087,666 per annum by the year 1884. For the year ending April 1884, its profits totalled £72,925. Foreign oil had made its impact on the company however.
By 1870 ,although he had retired from the company board, Young was forced to help it out in order to keep it a viable concern. He presented it with a gift of shale valued at £120,000 , payment being deferred for a period of 4 years; £100,000 being the sum that was eventually paid back. Young also gave the company many loans and it was his technical expertise which helped it to survive.
James Young, the man who had started it all, died in 1883 at Kelly, overlooking the Forth of Clyde. He was buried at Inverkep.
