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Standard Oil Co. of New Jersey - Famous Oil Company Bond - Became Exxon Replacing Esso, Enco & Humble Brands

Inv# GB5062   Bond
State(s): New Jersey
Years: 1970's
Color: Purple, Blue, Red or Brown

Various Denominations. Bold oil rig vignette with male figures at sides. American Bank Note Co. Great!!! Please specify color.

Over the next few decades, Jersey Standard grew significantly. John Duston Archbold was the first president of Jersey Standard. Archbold was followed by Walter C. Teagle in 1917, who made it the largest oil company in the world. In 1919, Jersey Standard acquired a 50% share in Humble Oil & Refining Co., a Texas oil producer. In 1920, it was listed on the New York Stock Exchange. In the following years it acquired or established Tropical Oil Company of Colombia (1920), Standard Oil Company of Venezuela (1921), and Creole Petroleum Company of Venezuela (1928).

In the Asia-Pacific region, Jersey Standard has established through its Dutch subsidiary an exploration and production company Nederlandsche Koloniale Petroleum Maatschappij in 1912. In 1922, it found oil in Indonesia and in 1927, it built a refinery in Sumatra. It had oil production and refineries but no marketing network.

In 1924, Jersey Standard and General Motors pooled its tetraethyllead-related patents and established the Ethyl Gasoline Corporation. In 1927, Jersey Standard signed a 25-years cooperation agreement with IG Farben for the coal hydrogenation research in the United States. Jersey Standard assumed this cooperation to be beneficial as it believed the United States oil reserves to be exhausted in the near future and that the coal hydrogenation would give an access for producing synthetic fuels. It erected synthetic fuel plants in Bayway, Baton Rouge, and Baytown (unfinished). The interest in hydrogenation evaporated after discovery of the East Texas Oil Field. As a part of the cooperation between Jersey Standard and IG Farben, a joint company, Standard I.G. Company, was established with Jersey Standard having a stake of 80%. IG Farben transferred rights to the hydrogenation process outside of Germany to the joint venture in exchange of $35 million stake of Jersey Standard shares. In 1930, the joint company established Hydro Patents Company to license the hydrogenation process in the United States. The agreement with IG Farben gave to Jersey Standard access to patents related to polyisobutylene which assist Jersey Standard to advance in isobutolene polymerization and to produce the first butyl rubber in 1937. As the agreement with IG Farben gave to the German company a veto right of licensing chemical industry patents in the United States, including patent for butyl rubber, Jersey Standard was accused of treason by senator Harry S. Truman. In 1941, it opened the first commercial synthetic toluene plant.

Upon the merger of Socony and Vacuum Oil, some suggested that Jersey Standard and Standard Oil of California merge to maintain dominance in the oil industry, though no serious moves were ever made by either side.

In 1932, Jersey Standard acquired foreign assets of the Pan American Petroleum and Transport Company. In 1937, its assets in Bolivia were nationalized, followed by the nationalization of its assets in Mexico in 1938.

Since the 1911 Standard Oil Trust breakup, Jersey Standard used the trademark Esso, a phonetic pronunciation of the initials "S" and "O" in the name Standard Oil, as one of its primary brand names. However, several of the other Standard Oil spinoffs objected to the use of that name in their territories, and successfully got the U.S. federal courts in the 1930s to ban the Esso brand in those states. In those territories where the ban was in force, Jersey Standard instead marketed its products under the Enco or Humble names.

In 1947, Jersey Standard and Royal Dutch Shell formed the joint venture Nederlandse Aardolie Maatschappij BV for oil and gas exploration and production in the Netherlands. In 1948, Jersey Standard acquired interests in the Arab-American Oil Company (Aramco).

Humble Oil became a wholly-owned subsidiary of Jersey Standard and was reorganized into the United States marketing division of Jersey Standard in 1959. In 1967, Humble Oil purchased all remaining Signal stations from Standard Oil Company of California (today known as Chevron) In 1969, Humble Oil opened a refinery in Benicia, California, of which today is owned by Valero Energy.

In Libya, Jersey Standard made its first major oil discovery in 1959.

Exxon Chemical Company (originally named Enjay Chemicals) was established in 1965.

In 1955, when Fortune released its first Fortune 500 list, Jersey Standard both before and after it rebranded as Exxon was one of the top five companies on Fortune 500 between the first edition of the list and the year of its merger with Mobil and reaching the #1 spot on the list a few years between 1970 and 1995.

In 1965, Jersey Standard started to acquire coal assets through its affiliate Carter Oil (later renamed Exxon Coal, U.S.A.). For managing the Midwest and Eastern coal assets in the United States, the Monterey Coal Company was established in 1969. Carter Oil focused on the developing synthetic fuels from coal. In 1966, it started to develop the coal liquefaction process called the Exxon Donor Solvent Process. In April 1980, Exxon opened a 250-ton-per-day pilot plant in Baytown, Texas. The plant was closed and dismantled in 1982.

In late 1960s Jersey Standard task force was looking for projects 30 years in the future. In April 1973, Exxon founded Solar Power Corporation, a wholly owned subsidiary for manufacturing of terrestrial photovoltaic cells. After 1980s oil glut Exxon's internal report projected that solar would not become viable until 2012 or 2013. Consequently, Exxon sold Solar Power Corporation in 1984.

In late 1960s, Jersey Standard entered into the nuclear industry. In 1969, it created a subsidiary, Jersey Nuclear Company (later: Exxon Nuclear Company), for manufacturing and marketing of uranium fuel, which was to be fabricated from uranium concentrates mined by the mineral department of Humble Oil (later: Exxon Minerals Company). In 1970, Jersey Nuclear opened a nuclear fuel manufacturing facility, now owned by Framatome, in Richland, Washington. The company started surface mining of uranium ore in Converse County, Wyoming, in 1970, solution mining in 1972, and underground mining in 1977. Uranium ore processing started in 1972. The facility was closed in 1984.

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Condition: Excellent

A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.

Item ordered may not be exact piece shown. All original and authentic.
Price: $9.00