Word: stanolind
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...after, Standard bought Midwest, and as Peake moved up, Prior followed. In 1928, Peake was made president of another Standard subsidiary, Dixie Oil, and when he was shifted to the parent company in 1930, Prior succeeded him. Later that year, when Standard merged Dixie and two other companies into Stanolind Oil & Gas Co., Prior was the first president. Under him, Stanolind's oil reserves were increased ten times. In 1945, he moved to the parent company, became vice president in charge of production, and in 1951 executive vice president...
...many firms have as much as 50% of their pension fund in the market, and most of it in common stocks. Dr. Robert E. Wilson, chairman of the $2 billion Standard Oil Co. (Indiana), calls the pension funds "the strongest source of new capital going into the market." Where Stanolind once had 60% of its funds in Government bonds, it now has only 20%. On the switch from bonds to stock. Stanolind has sharply increased its workers' return, much of it in fat dividends from the oil industry itself. Other companies, such as American Airlines, General Aniline & Film Corp...
CARTHAGE Hydrocol, the ill-fated synthetic gasoline company set up in 1946 and headed by ex-Republican National Chairman Guy Gabrielson (TiME, June 26, 1950), may be back in business before long. Stanolind Oil & Gas Co. wants to take over the closed-down Texas plant, pay off an $18.5 million RFC loan, and put another $25 million into expansion. The RFC, which is itself going out of business, is negotiating with stockholders to okay the deal, and thus get back the money it sank in the project...
...first two wells were flops. Last year, as he reached the end of his resources, he brought in a gusher. As he started drilling new wells, other companies, including Phillips and Stanolind, rushed to the Worland area, sank eleven wells of their own to cash in on Bonanza's bonanza...
...lack of adequate pipelines. The lines were approved by WPB, but frantically opposed by local truckers. Last week Oil Czar Ickes stepped into the fracas, recommended immediate construction of two new pipelines (one to Billings and Laurel refineries in Montana, the other to connect with Stanolind's big line to Salt Lake). When the new lines are pushed through next year, Nettie's homestead will really begin...