Word: mobilize
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...year-end profit record of $6.34 per share v. $5.85 a year earlier. Said Chairman Augustus C. Long: "New records were established in every phase of our operations." This year will be even better, he thinks, with U.S. demand improving 2% to 3% and overseas demand by 7%. Socony Mobil piled up indicated earnings of 96? per share v. 84? in the fourth quarter, for a year's total of $3.76 v. $3.38. Standard Oil (Indiana), in the fourth quarter, hit $1.17 per share v. 93?, finished the year with $4.05 per share...
Labor-saving machinery is also playing a big part in holding down costs. Aurora Ill.'s Barber-Greene Co. built a giant $500,000 mobile asphalt plant for Fort Lauderdale's Mobil Asphalt Co., complete with mixing machines, road paver, bunkhouse and machine shop, which rolls under its own power to a job. In a matter of hours it can be set up and with one man operating it, produce 250 tons of asphalt an hour. It will finish in 70 days a 65-mile stretch of highway which was scheduled to take 150 days. Milwaukee...
...dismemberment of the old $660 million Standard Oil Co. in 1911. Standard-Vacuum Oil Co., an $855 million oil-marketing combine with 37,000 employees in 50 countries and sales last year of $1 billion, will be divided between its joint owners, Standard Oil Co. (New Jersey) and Socony Mobil Oil Corp. The decision was embodied in a partial settlement last week of a long, controversial suit filed by the Justice Department against five of the biggest U.S. oil companies: Jersey Standard, Socony Mobil, Standard Oil Co. of California, Texaco Inc. and Gulf Oil Corp...
...case, which even the trustbusters knew was none too strong. Last week two of the defendants, Jersey Standard and Gulf, while not admitting any guilt, signed consent decrees promising not to enter into any cartel deals for the next 25 years. Although the suit continues against Socony Mobil and the other two companies, Socony went along with Jersey Standard's terms for breaking up Standard-Vacuum...
Jersey Standard will take over Stanvac's assets in India, Pakistan, Ceylon, Southeast Asia, South Korea, Malagasy and East Africa. Socony Mobil will get the bulk of the assets in the rest of Africa, Australia, New Zealand, Hong Kong, Aden, Formosa and much of the Southwest Pacific. The two companies will retain joint ownership of Stanvac's rich Indonesian wells and split the oil business in Japan and the Philippines...