Word: vacuumers
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...merited the headlines it got: the specific charge that U.S. companies had overcharged ECA for the Middle Eastern oil it financed for delivery to Italy, Greece and other European countries. To back up the charge, Attorney General James P. McGranery last week slapped a suit on Jersey Standard, Socony-Vacuum, The Texas Co., Standard of California and six subsidiaries, seeking recovery of $67 million in alleged overcharges. His claim: they sold Middle East oil to ECA at $1.75 a barrel overseas, when they were billing their own sales to the U.S. at $1.43. According to FTC's report, this...
...companies had, as they stoutly denied, overcharged the Government was a matter for the law courts to eventually decide. But the Administration's strange and undignified handling of the whole cartel furor seemed to prove only that the election is getting closer every day. Said Socony-Vacuum's Board Chairman George V. Holton: "Somebody does this sort of thing every four years. We're whipping boys during an election campaign...
...Despite strikes, Socony-Vacuum netted $84 million for the first half, up 10% to a new record. But Standard Oil of California's second-quarter net was down 2.5% to $45.4 million; Texas Co.'s was down 19% to $40 million...
...force (Allied Land Forces Southern Europe) to be commanded by the Italian; the other (Allied Land Forces Southeastern Europe) to be commanded by an American (possible choice: Admiral Carney's able chief of staff, Paratroop Major General James Gavin). Still bobbing becalmed in a command vacuum, however, are Mountbatten's British warships. The U.S. argues that it has more ships in the Mediterranean and more knowledge of carrier tactics; the British say that the Mediterranean has traditionally been their concern, and besides, that the U.S. has already rounded up most of the prize international jobs...
...Standard Oil of New Jersey, Standard Oil of California, Texas Co., Socony-Vacuum Oil Co., Gulf Oil Co., British-owned Anglo-Iranian Oil Co., and Royal Dutch Petroleum...