To the outside world, it appeared that Arthur was born to considerable wealth as an heir to the Union Oil fortune.

The reality was quite different.

Art's grandfather, Lyman Stewart, had certainly founded the Union Oil Company. But the business was struggling, and the financial world was deeply suspicious of anything this crazy old wildcatter did. Lyman had fought for the Union Army in the Civil War. He came back to his hometown, Titusville, Pennsylvania, and hated working in his family's smelly tannery business. Then oil was discovered nearby. Lyman plunged into property specula­tion. He made and lost several fortunes in the 1880's and 90's, then headed for California with the substantial stake of $135,000.

Lyman bought 65 miles of oil leases – from Newhall to Santa Barbara. He built a 40-mile pipeline to the ocean and purchased one of the world's first oil tankers to trade oil around the Pacific. But the business was incredibly unstable and when he founded the Union Oil Company (named for his service in the Union Army), the company had to be run by his son, W. L. Stewart, who had to practically disown his Dad before gun-shy investors would commit to the company.

Arthur, known as Art to his friends, joined the company in 1932, the same year Durward Howes invited him to be founding member of the Economic Round Table at the age of 27.

Art paid his dues in the oil business. He had an engineering degree from Stanford University and an MBA from Harvard Business School. But he started as a wiper in the en­gine room of oil tankers. And he worked for a year as a marine service station attendant on the fishing docks at San Pedro. He had a flair for selling and for making friends and he made his way up through the ranks. He became Vice President of Sales and Marketing on his merits. The Stewart family, by this time, were minor shareholders, although they had the image of power.

Art was an innovative and creative man. He was responsible for getting premium prices for Union products – and he built a service station at Dodger Stadium – the first in any major league ballpark. He served as a Senior Vice President until retiring in 1965 and then continued as a Director. He died in 1970.