;C1IIILJ. BBllIIIIS lOBIlII. OIL ~8I1PI.IY i - January 10, 1870 - purpose of "manufacturing petroleum and dealing in CLEVELAN~A new corporation was formed petroleum products under the corporate name The Standard Oil Company." here today when the nation's largest petroleum ~ The corporation concept is a relatively new business refining company, bucking a severe depression Flashback to 1870 device. Real operating corporations are rare. The Cleve­ in the oil industry, reorganized. The new firm I land city directory lists only 32. will be known as The Standard Oil Company. secretary-treasurer; Samuel Andrews, superintendent John Rockefeller explained that incorporation seemed It takes over the business and property of the firm of works; and Stephen V. Harkness, 49, a wealthy wise for his company because "kerosine manufacturing of Rockefeller, Andrews, and Flagler, which operated liquor merchant. is becoming an industry in which only large establish­ two refineries and a huge barrelmaking plant here, Oliver B. Jennings, 45, who made a fortune selling ments have any certainty of survivaL" plus related shipping and warehousing facilities in supplies to gold rush prospectors in California, is the Last year 26 refining companies went bankrupt Northeastern Pennsylvania and New York City. sixth stockholder and director. He is a brother-in-law because of inadequate facilities and lack of capital. Incorporators of The Standard Oil Company are of William Rockefeller. Asked who conceived the idea of incorporating John D. Rockefeller, 30, president; his brother William, The 200-word articles of incorporation, filed in Cuy­ Standard Oil, Rockefeller replied, "I wish I'd had the 28, vice-president and manager of the company's ex­ ahoga Common Pleas Court before Justice of the Peace brains to think of it. It was Henry M. Flagler." port operations in New York; Henry M. Flagler, 37, Frederick A. Brand, declare the corporation is for the (Turn to Page 2, Column 1) Sohio lie",. JANUARY 1970 Closing Finalizes Merger CLEVELAND - It's official. shares from 20 million to 40 Dec. 1 in Federal District Court Sohio and BP Oil Corporation million. They also authorized an at Cleveland. merged Jan. 1 when closing increase in the number of Sohio The decree requires Sohio to WILLIAM FRASER MONTY PENNELL papers were signed by repre­ directors from 12 to 14 to per­ divest itself of facilities repre­ sentatives of Sohio and The mit election of two British senting sales in Ohio of 400 mil­ B l' i tis h Petroleum Company Petroleum representatives. lion gallons annually of taxable Limited, parent firm of BP Oil. The meeting originally was motor fuel. Also, Sohio must Sohio Board Adds The formality, held in Lon­ scheduled for Oct. 9, but was divest itself of competing So­ don, came seven months after adjourned several times, pend­ hio or BP Oil service stations the proposed merger was pub­ ing resolution of U.S. Justice in Western Pennsylvania. Two New Directors licly announced and about a Department antitrust objec­ When the decree became final CLEVELAND - Two new directors, nominees of The year after officials of the two tions to the merger. 30 days after it was filed, the companies began negotiations. British Petroleum Company Limited, are expected to be The objections were resolved, way was cleared for closing of The merger gives Sohio im­ and a COll3ent decree was filed the merger. elected to Sohio's board of directors when it meets mense underground crude oil Jan. 22. reserves in Alaska's Prudhoe Tbey are 'William Fra er, 1959 he became managing direc- Bay oil field. It doubles refin­ managing irector for Eri' tor f r 'r.' . " '0 ea- Petroleum, and Monty M. Pen­ MONTY PENl'ELL began his sets, expands marketing capa­ nell, managing director of BP present assignment in 1967. He bility from 6 to 21 states, and Exploration Company Limited, is a 1938 Liverpool University includes interests in an exten­ both headquartered in London. graduate. During World War sive transportation system. Sohio shareholders authorized II he served with the British Initially, British Petroleum an increase in the number of Army in the Mediterranean, receives special, nondividend­ board members from 12 to 14 attaining the rank of major. bearing stock equal to a 25 per­ at a special meeting Dec. 9 as He joined British Petroleum cent common stock interest in a result of the merger agree­ in 1946 and, over the next ten Sohio. This will be converted ment between Sohio and BP years, held engineering and ex­ later to regular common stock. Oil Corporation. ecutive assignments in Iran, British Petroleum has oppor­ WILLIAM FRASER has been a Sicily, and East Africa. In 1956 tunity to earn up to 54 percent managing director for British he was assigned to New York, interest in Sohio, based on suc­ Petroleum since 1962. He was leaving there in 1958 to return cess of Alaskan oil production. educated at Loretto School, to the United Kingdom. The merger overwhelmingly near Edinburgh, and at Clare Mr. Pennell completed opera­ was approved by Sohio share­ College, Cambridge. holders at a special meeting tions assignments in Iran and EARL UNRUH Rising to the rank of lieu­ Libya, then in 1963 became Dec. 9. ROBERT GRIFFIN tenant colonel in the British deputy general managing direc­ Shareholders also approved Army during World War II, he tor for BP Exploration. increasing the common stock was awarded the Order of the British Empire and the U.S. Unruh, Griffin Head Army's Bronze Star. After the war Mr. Fraser practiced law until 1950, when T~o Merged Groups he joined British Petroleum's exploration staff. From 1956 CLEVELAND - The merger of Sohio and BP Oil Corpo­ to 1958 he represented British ration results in naming of two additional Sohio vice­ Petroleum in New York. In presidents and in organizational changes within Sohio. Robert G. Griffin, former BP Oil vice-president for Market­ Griffin. The BP brand name Two Receive ing Operations, is vice-presi­ will be used, and BP Oil's ser­ Reward dent for Marketing-BP. vice station modernization and Highest Earl W. Unruh, who headed (Turn to Page 8, Column 1) PUT RIVER• NUMBER Logistics for BP Oil Corpora­ For Convictions tion, is vic e-p l' e sid en t for YOUNGSTOWN -A record BP OIL CORPORlTl( Transportation, now a separate $5,000 reward has gone to two PERMIT NUMBER 68· department within Sobio. Formalities Brief Youngstown men for their part Sohio's former Supply and LONDON - The New in the conviction of the gun­ 5.11. SECT. 27 Til" I Transportation Department be­ man in a holdup-slaying at a comes Supply and Distribution Year's Day formalities, ~_ signifying the merger of Sohio dealer station here. j-..., . UOP.M. .... Department. ~'''L-=- Sohio and BP Oil Corpo­ The money was paid under Mr. Griffin and Mr. Unruh ration, were completed the Sohio Shield Program, report to Sohio Executive Vice­ in less than three hours. which rewards persons who President Joseph D. Harnett. contribute information leading The exchange of docu­ Other departments experienc­ ments - corporate stock, to an arrest or conviction in ing organizational changes as cases of burglary, assault, or opinions of counsel, and a result of the merger include other papers - took place property damage at Sohio ser­ Accounting, Employee Rela­ at Britannic House, 35­ vice stations. tions, Finance and Planning, story home office of The Management Systems, Natural The $5,000 was the most British Petroleum Com­ granted in the program's 12­ Resources, and Refining. pany Limited. year history and was its max­ Changes line up this way: imum payment at the time. George J. Dunn, attor­ Marketing ney in the Corporate Since then, the top award Legal Department, repre­ under the shield program has BP Marketing will operate as sented Sobio. been raised to $10,000, depend­ PARKA·CLAD WORKMEN VIEW PUT RIVER 1 WELL a separate entity, headquarter­ ing upon gravity of the crime. Site of British Petroleum discovery at Prudhoe Bay. ed in Atlanta, and headed by Page 2 SOHIO NEWS January 1970 SohioNews VOL. 24 o.• Editor, F. M. Paulson; Assistant Editor, June Eppink; Editorial Sta Clyde Wimer, Jack Ott, Joe Franko, and Marjorie Loucks. Published every month for employees of The Standard Oil Co pany (Ohio) and these subsidiaries: BP Oil Corporation, Fleet·Wing Corporation, Old Ben Coal Corporation, Sohio·lran Trading, Inc., Sohio Petroleum Company, Sohio Pipe Line Company, Sohio Vene· zuela Company, and Vistron Corporation. Address correspondence to F. M. Paulson, Public Relations Depart· ment, The Standard Oil Company (Ohio), 1702 Midland Building, Cleveland, Ohio 44115. These trademarks and service marks are the property of The Standard Oil Company (Ohio) and its subsidiaries: Boron, Canfield, Cardinal, Extron, Farmex, Filon, Filon-Stripes, Fleet-Wing, Frostex, Gas and Go, Golden Duron, Hospitality Motor Inn, Ice-gard, Loma, Lubri-Chart, Lubri-Check, Oxco, Parowax, Piston Seal, Plastex, Pre· mex, Pro, Profile, Prolon, Pro-phy-Iac-tic, QVO, Ree-Juve, So-clear, Sohigro, Sohio, Solar, Trolkote, Trolumen, Valve Ease, Vistron, and Wm. Penn. NEWS REPORTERS Home Office .'.June Eppink Natural Resources Fleet·Wing " Norene Johns Alice Daisy Hamilton . Lima Refinery Mary Bowler Houston .Joan Funderburk NO.2 Refinery. Hedy Sumkowski Toledo Refinery .. Fred Gressler Lafayette ...Willa Mae deYoung Midland .. George Ludwig Marketing Oklahoma City Johnnye Stephens Okmulgee Elizabeth Smith AKRON REGION: Pauls Valley Marie Smith STANDARD OIL REFINERY ABOUT 1870. NOTE COW IN FOREGROUND. Office .... .. Eleanor Dietz Russell Dot Schmidt Akron ... Frances Conry WEHLU .. Barbara Kelley Canton .Gladys Zernechel Youngstown .... Elaine Henry FLASHBACK TO 1870 Research CLEVELAND REGION: Broadway .. Myrtle Stajcar Office .....Catherine Grubbs Warrensville Sharon Zolan CINCINNATI REGION: Ex-Merchant Heads New Oil Firm Office Norma Wessendorf Transportation Dayton Evelyn Shepherd Gathering Lines .