OIL: The Big Split

It was the biggest corporate split-up in the history of trustbusting, topping even the historic dismemberment of the old $660 million Standard Oil Co. in 1911. Standard-Vacuum Oil Co., an $855 million oil-marketing combine with 37,000 employees in 50 countries and sales last year of $1 billion, will be divided between its joint owners, Standard Oil Co. (New Jersey) and Socony Mobil Oil Corp. The decision was embodied in a partial settlement last week of a long, controversial suit filed by the Justice Department against five of the biggest U.S. oil companies: Jersey Standard, Socony Mobil, Standard...