In 1907, the Union Oil Company of California began drilling near the intersection of Norwalk Blvd. and Telegraph Road, locally known as "Four Corners," with the spudding in of the Meyer No. 1 well. That well, and a subsequent one, failed. In 1921 the Union-Bell well blew in as a 2,500-barrel gusher and set off an oil rush by major oil companies and fly-by-night producers. Within a year the Santa Fe Springs oil field was considered one of the richest pools in petroleum history. Santa Fe Springs became a promoters' paradise. Prospective investors were bused into the field, served a free lunch in circus tents, and told stories about the fortunes made in oil. In 1923 the state legislature limited the amount of stock that could be sold in a well.