Word: arnotte
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While the Supreme Court was pondering the test case of Champlin Refining Co. v. Oklahoma's Corporation Commission, President Charles Edward Arnott of Socony-Vacuum Corp. was playing host to a party in Manhattan's Waldorf-Astoria. It was not a big party. The members all sat around comfortably in Room No. 2604. But it was important. The guests represented the leading oil producers of the world, gathered to come to terms with Russia. Momentous was the fact that for the first time Royal Dutch-Shell was prepared to forget the seizure of its wells in the Caucasus...
What was actually decided, how the various companies lined up, was not given out but the Press learned that Socony's Arnott was in favor of a plan by which the world's big export companies would buy Russia's exports for the next ten years. By then Russia should be consuming all the petroleum she produces. By distributing the present Russian surplus among all companies, world price-wars would be avoided. Hope was that Russia could be kept from producing for export any more than she exported last year. Another subject much discussed was the allocation...
While the meetings consisted largely of private discussions, oilmen wondered if Socony-Vacuum's Arnott was not bidding for leadership of the world's petroleum industry. It was he who called the conference, he who held a daily meeting with newspapermen...
Exactly what went on in Room No. 2604 was not told, but it was easy to imagine long-haired President Arnott dominating the conversation. As a speaker he is romantic, dramatic, often poetic. His accent is unusually pure, probably because his father was English and Oxonian. Since he entered the oil business in 1896 (he went with Vacuum in 1903) he has shown a flair for salesmanship. Most famed and profitable of his ideas was that each type of machine should have a special type of lubricant. Vacuum's chart showing what kind should be used was the result...
Seasoned executives drawn from the two merging companies are in command of Socony-Vacuum Corp. Of the three top officers the youngest is Charles E. Arnott, who became president of Vacuum only last year, and who steps into the presidency of the new company. He has been an oilman since 1896, with Vacuum since 1903. He lives in Short Hills, N. J. Trenchantly he describes Socony-Vacuum: "Not only will it contain every element of the production, refining and distribution of a complete line of petroleum products, but, as if arranged by nature, the field of action...