OIL: High-Flying Horse

At Manhattan's 26 Broadway, citadel of the old Standard Oil Trust until its dissolution in 1911, the directors of Socony-Vacuum Oil Co. last week trooped into their paneled meeting room, eased into leather chairs beneath John D. Rockefeller's portrait and listened to a report of Socony-Vacuum's 1951 profits that would have amazed old John D.

The most that Rockefeller's whole trust had ever earned, in its heyday, was $83 million. In 1951, Socony-Vacuum, representing merely two of the 34 units into which the Supreme Court split the trust, earned nearly twice as...

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