Word: esso
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Dates: during 1950-1959
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...economy that has long been lacking. With hoarded francs or those repatriated from the uncertainty of Indo-China, they furiously bought stocks, driving the market to dizzy heights. Stock-exchange volume doubled in 1954, added still another 50% this year, soared with every scrap of good news. Powered by Esso Standard's oilfield discovery at Parentis-en-Born near Bordeaux (which nearly doubled France's domestic oil production), Esso stock went up from 7,000 to 90,000 francs in less than a year. Other shares rode along, though many paid only 2% in dividends and some...
SOCONY-VACUUM OIL CO. will follow Esso Standard Oil Co. (formerly Standard Oil of New Jersey) in changing its name to reflect the trademark on its products. The company will change to Socony Mobil Oil Co., Inc., to tie in with its Mobilgas, Mobiloil, Mobilheat products...
...only helped give a boost to such peace stocks as autos (up 112%) but also brought about repatriation of big French investments in Indo-China. Aciéries de Longwy (steel) jumped from $38 a share to $73; Suez Canal shares rose nearly 50% to $350. Most spectacular gain: Esso Standard of France, which soared almost 1,000% following the discovery of oil near Bordeaux (TIME, Sept...
...yards away. Near a group of ancient Roman tombs, Actress Silvana Mangano has built herself a spanking new Hollywood-type villa, complete with swimming pool. Across the way from the Church of Domine Quo Vadis?, where tradition holds that Jesus appeared to the wavering Apostle Peter, an Esso station peddles axle grease and antiquities. Many a roadside vista of the old Roman campagna is now cluttered with factories, lumber yards and cheap houses...
PARIS STOCK MARKET is booming as a result of France's economic recovery. Many small savers now have enough confidence in the future to sell their hoarded gold to invest in stocks. Some of the biggest gainers since last January: Esso Standard, which climbed from $27 to $257 per share, Suez Canal Co., which went from $243 to $355, and Schneider-Creusot steel and arms works, which nearly doubled, to $47 per share...