Word: texaco
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...successor in the presidency: James W. Foley, 44. Long and Foley, a young top-management team, will captain the third largest U.S. international oil company (behind Standard Oil of N.J. and Gulf in oil reserves and gross income). Chairman-elect Long graduated from Annapolis ('26), joined Texaco after a hitch with the Navy. In World War II he saw Navy duty in London, helped Allied petroleum experts direct the flow of Middle East oil to strategic areas...
...London financial circles the sale terms were regarded as highly favorable to Britain. Texaco would pay Britain in badly needed dollars. Its $176 million offer was twice the value of the shares. Under the conditions laid down by the Cabinet, Texaco must operate the refinery at full capacity and step up oil exploration on the island. Trinidad Oil produces about 8,000,000 bbls. of crude annually but is a midget in the international oil industry. Yet no British firm was in shape to buy it, or provide the funds to expand it. In the long run, Texaco...
...Texaco Star Theater (Sat. 9:30 p.m., NBC). Jimmy Durante plays host to Peter Lawford, Anna Maria Alberghetti...
...Texaco Star Theater (Sat. 9:30 p.m., NBC). Jimmy Durante...
Scattered preliminary first-quarter company reports bore out the bullish picture. Texas Co. President Augustus C. Long predicted better first-quarter earnings for Texaco than in '55; Consolidated Foods netted 29% more in the 36 weeks ending March 10 than in the like period a year before; Granite City Steel forecast a first-quarter record for steel shipments...