Oakey L. Alexander, president of Virginia's Pocahontas Fuel Co., Inc., shocked his friends last week as much, he said, as if "Harry Truman had joined the Young Republican Club." The boss of one of the biggest U.S. soft-coal producers went into the oil business. With California Oil Co., a subsidiary of Standard of California, Pocahontas plans to spend about $1,500,000 building an oil terminal at Portland, Me. The 192,000-bbl. terminal will be supplied by Cal-Standard tankers.
Pocahontas is going into a competing business, said Alexander, because "our customers are thoroughly disgusted with interruptions year after year because of [John L.] Lewis'...
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