Word: mobiles
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...EXPANSION by Socony Mobil will pump alltime-high $435 million into new equipment and exploration this year, up $14 million from 1957. About 65% will be spent at home, though Socony gets only 40% of its earnings in U.S. Company expects free-world consumption of oil to increase by at least 50% within decade and industry will have to invest $115 billion to meet...
...They fear that stockholders might think the planes are used only for junkets and fishing trips. But few companies will buy, and fewer plane makers will sell, a plane unless it adds to the customer's profit. Eastman Kodak, U.S. Steel, International Business Machines, Firestone Tire & Rubber, Socony Mobil Oil Co and Texas Co. all have fleets ranging from puddle jumpers to four-engined DC-6Bs and turbo prop Vickers Viscounts. They find them worth their cost many times over in shuttling men and equipment around their widely diversified operations...
...Albert L. Nickerson, 47, Socony Mobil Oil Co. president since 1955, will become chief executive officer next month when Board Chairman B. (for Benjamin) Brewster Jennings, 59, retires after 37 years with the company. Nickerson, a New Englander who looks like Cinemactor Randolph Scott, came up fast. Graduating from Harvard in 1933, he joined Socony as a service-station attendant, moved up to become a director within 13 years. Despite the current domestic oil glut, he has spoken out strongly for continued imports on the ground that high-cost U.S. producers will be unable to match soaring future demand...
...below-capacity operation in many segments of the steel industry, Republic Steel raised its nine-month earnings 30%, for a record $73 million, and Inland Steel lifted its nine-month net to $43 million, 18% over 1955, its best previous year. Among the oil companies, hurt by overproduction, Socony Mobil and Shell Oil both reported profit dips. But Phillips Petroleum and Texas Co. reported 1957 profits ahead...
...multimillion-dollar marriage brokers: Major General John B. Medaris. boss of the Army's missile-making Redstone Arsenal; Major General Bernard A. Schriever, boss of the Air Force's ballistics-missile program; and Wilson's special assistant for guided missiles, William M. Holaday, onetime Socony Mobil Oil Co. Inc. research director. Wedding date: "Earliest practicable," probably October...