Standard Oil evidently prefers to train its executives rather than acquire them through mergers. Last spring, Standard of Indiana acquired the Pan-American Petroleum and Transport Co. from Edward L. Doheny (TIME, Apr. 13). Potent in Pan-American was Herbert G. Wylie, long an able Doheny lieutenant. Shortly after the merger, Mr. Wylie found his occupation gone. Pan-American was now a subsidiary, and no longer an independent. Decisions were made by the Standard of Indiana heads, and the Presidency of "Pan Pete" became a sinecure job, without responsibilities or possibilities for individual initiative. This...
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