Business & Finance: Socony-Vacuum Corp.

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Seasoned executives drawn from the two merging companies are in command of Socony-Vacuum Corp. Of the three top officers the youngest is Charles E. Arnott, who became president of Vacuum only last year, and who steps into the presidency of the new company. He has been an oilman since 1896, with Vacuum since 1903. He lives in Short Hills, N. J. Trenchantly he describes Socony-Vacuum: "Not only will it contain every element of the production, refining and distribution of a complete line of petroleum products, but, as if arranged by nature, the field of action of the two companies is surprisingly complementary." Oldest of the top executives is the new chairman of the Executive Committee, grizzle-bearded Charles F. Meyer, who climbed from the Indian service of the old Standard to the presidency of Standard of New York. Board Chairman of Socony-Vacuum is Herbert Lee Pratt, longtime chairman of the Socony Board and son of one of the elder Rockefeller's most potent partners.