Word: oilmen
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Dates: during 1930-1939
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Last week from Madison, Wis. the shadow of Ohio's late Senator John Sherman spread darkly across 18 major U. S. oil companies, five of their subsidiaries, 58 oilmen and three oil trade journals. Under the Sherman Anti-Trust Act they were all criminally indicted by a Federal grand jury for having "combined and conspired, beginning in February 1935, and continuing to date, to raise and fix prices of gasoline sold in interstate commerce, mainly in ten States of the Middle West...
...Frank Phillips of Phillips Petroleum Co., President Edwin B. Reeser of Barnsdall Corp., President William G. Skelly of Skelly Oil Co. Also indicted were Keith Fanshier, petroleum editor of the Chicago Journal of Commerce, and Warren C. Platt, publisher of Platt's Oilgram and National Petroleum News.* To oilmen the sole surprise was that the Government had decided to use for the first time in a big case its power to conduct a criminal rather than civil prosecution under the Sherman Act. Late last spring Attorney General Homer Stille Cummings announced that complaints of oil price-fixing had been...
From the New Deal, such accusations sounded strange to oilmen's ears. Said one oilman: "The oil industry feels like a small boy spanked by mama for doing something papa told...
...from $4,865,000 in 1934 to $8,813,000 last year. Included in the 1935 figure was a $1,564,000 profit from sale of two tankers "not needed in the company's service." Continental's Daniel James Moran is one of the few U. S. oilmen who is not a confirmed expansionist. In his report, which he signs "Dan Moran," he noted: "During 1935, the company's marketing program centered on improving marketing methods to the exclusion of expansion. An analysis of sales at the beginning of 1935 caused the company to discard unprofitable business...
Poker-faced, Diplomat Murray heard the unhappy oilmen out. After they left he dashed to Secretary Hull, who suggested that Standard Oil return at 3 p. m. Sharp at 3, the oilmen and Diplomat Murray were closeted with stiff, didactic Dr. Stanley Hornbeck, Chief of the Division of Far Eastern Affairs. Dr. Hornbeck soon went downstairs to tell Secretary Hull that Standard Oil had arrived, the actual introduction of Messrs. Walden & Dundas being made by Near East Chief Murray...