Standard Mergers

It was indicated last week that $1,770,993,000-in-assets Standard Oil Co. of New Jersey might consolidate with the $610,296,000-in-assets Standard Oil Co. of California, forming a huge company which, in a good year, might well earn the stupendous total of $166,000,000. And an alliance between Standard Oil Co. of Ohio and the onetime Standard unit, Ohio Oil Co., was widely discussed. The reason for this hubbub was that the last day during which the U. S. Department of Justice could have appealed to the Supreme Court to halt the proposed merger between Standard Oil Co. of New York and Vacuum Oil Co. had come and gone, and the Department of Justice had NOT appealed.

Although the legal path for the Standard of New York-Vacuum deal is now clear, owing to recent changes in stockmarket valuations, it will probably not go through on the original terms announced when the two companies decided to merge 16 months ago. The exchange ratio was to have been the equivalent of three Standard for one Vacuum.

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