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The Sohio News
July 1952
STRIKE OUT INCORRECT ANSWERS
1, Dividends earned by stock held in the Investment Plan are : a-added to an individual's account b-held in a common pool c-retained by the company.
2, An employee may invest up to (a-67%, b-50%, c-26%) of his account in Sohio common stock.
3, Participants in the plan have a total of (a-2, b-3, c-4) ways of allotting their money.
4, An employee who withdraws from the plan prior to completing five years' participation (a-forfeits the company's contribution, b-gets one-half of the company's contribution.)
5. The rate of company contributions to the plan is dependent upon (a-length of employee's service, b-the company's profits.)
6, The plan is designed to encourage saving and to help employees invest their savings. (a-True b-False)
CORRECT ANSWERS BELOW
New Annuitants
E. C. Binder Retires with More Than 48 Years’ Active Service
Edward C. Binder
On August 1, two days after his sixty-fifth birthday, Edward C. Binder will retire as consumer sales manager at Columbus Division. He has worked under four company presidents in the 48-year span of his Sohio career.
Graduating from Cleveland's Central High School in 1904, he took his first job as an office boy at Sohio's General Office. In 1921 he was named manager of the Order Department, and three years later he transferred to the Refined Sales Department.
Moving from the General Office to Cleveland Division, Mr. Binder next became assistant manager of Lubricating Sales and then manager, Lubricating Sales, Eastern Division. In 1929 he was assigned to Columbus Division as district manager of Industrial Sales. He was appointed to his present post in November 1949.
The Binders—Ed and his wife Elsie—have a son Edward, Jr.; a daughter, Mrs. Beatrice Town-send; and two grandchildren-Susan Jane Townsend, 16; and Scott Binder, 1-1/2.
Retirement for him, Ed says, will mean more time for yard work and flower gardening at his home, 1961 Berkshire Rd., Columbus. He also plans to travel and continue his activities at the Scioto Country Club, the Lions Club, and First Community Church.
Harry A. Reitzman
With nearly 40 years' active service to his credit, Harry A. Reitzman retires from the Home Office this month. On sick leave for the past year, he says he is feeling better every day. "I want to rest some more," he adds, "before making any definite retirement plans."
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H. A. Reitzman
A native of Cleveland, where he attended West High School, Mr. Reitzman was first employed at the Home Office July 18, 1912, as an Elliott Fisher operator.
He transferred to the Traffic Department in November of that year, and then to Order and Billing, Treasurer's, December 1, 1914. It was while he was in Order and Billing that Harry, widely known as one of the city's outstanding athletes, played center fielder on the famous Standard Oil ball team when it won the National A.A.A. Championship in 1919.
Three years later, in 1922, he moved to the Accounting Department, and in July 1926, he joined General Ledgers. When he became ill Harry was a general ledger bookkeeper in Ledgers and Journals.
He and his wife Hedricka, who live at 3683 West 130th St., have two children—Mrs. Eleanor Assink and Quinn, formerly employed in the Home Office Order Department.
Automobile travel has long been one of Harry's major interests. When he's able, he hopes to take his three pride-and-joys (his grandchildren — Beverly Reitzman and Nelson and Marlene Assink) on a vacation trip. In the past, too, he has served for many years as an officer of Calvary Reformed Church.
(Continued on Page 6, Col, 1)
Lab Helps Produce More Oil Through Research
Out on Exchange Ave. in Oklahoma City, just beyond the overpass on the way to Stockyards City, there is a buff brick building. On the door is the Sohio symbol and the name "Production Research Laboratory."
Inside there is a staff of five people and a great deal of complex apparatus. This building, the apparatus, and the staff all have one simple objective which is important to every person in Sohio—to help increase the economic recovery of oil and gas from Sohio wells.
The oil production industry, which began in 1859 with the drilling of the Drake well, has come a long way in understanding the ways and means for recovering crude oil from underground reservoirs. But it is still plagued with the unhappy thought that in most cases it leaves more oil in the ground than it is able to take out. This thought is a big incentive for learning more about the performance of oil reservoirs and for making improvements in methods of oil recovery.
Sohio's Production Research Laboratory serves both functions through routine analysis of oil reservoir cores and oil and gas samples and through research analysis of the behavior of recovery from oil reservoirs.
The laboratory recently moved into its present location in a building which was built to company specifications and leased to Sohio. The building contains 3,000 square feet, is air-conditioned, and is a great improvement over the former laboratory location where production research started less than five years ago.
G. E. "Bert" Saunders is the laboratory supervisor working under Lincoln Elkins, head of the Special Projects Engineering Section. Rod Maclvor, engineer, works on water flood research problems. Mary Craven, Arthur Scott, and Dick Lutton, laboratory technicians, assist in every phase of the research.
Only an engineer can comprehend the technical equipment they use daily, but every Sohioan recognizes the importance of their efforts in helping Sohio produce more oil through research.
Arthur Scott, upper left, operates the pressure-volume-temperature equipment used in testing black oil. At right, Bert Saunders observes a sample oil reservoir under the microscope. Scott, Saunders, and Rod Maclvor, below, use the laboratory's water flood equipment to test oil sands for flooding.
Interest Rate on Defense Bonds is Increased
U. S. Treasury Department officials have announced that series E Defense Bonds issued on and after May 1, 1952, carry a new and higher rate of interest.
Interest rates on E Bonds have been raised from 2.9 per cent to 3 per cent compounded semi-annually and the maturity period lowered from 10 years to 9 years and 8 months. Issue price of the new E Bond remains the same-$18.75 for a $25.00 bond, $37.50 for a $50.00 bond, etc. Interest now starts at the end of the first six months, instead of at the end of a year, and the new E Bond pays back more in the first five years.
Like previous issues the new E Bonds must be held a minimum of 60 days after purchase before they may be redeemed.
In answer to the question, "Should I cash my old bonds and buy new ones?", Treasury Department officials say it depends on how long you have held your bonds and when you expect to cash them. In a majority of cases it will not pay to redeem the old bonds and buy the new.
Bonds now held may continue to be extended (kept in force) after maturity. If purchased after May 1942 the bonds can be extended at the new 3 percent rate of interest. If purchased before May, 1942 the bonds are under the old extension privileges of 2.9 per cent. No action need be taken to extend a bond upon maturity. As long as they are held, and not cashed at this time, they will be automatically extended and will continue to draw interest.
E Bonds may be purchased through Sohio in two different ways. One, you may authorize payroll deductions for the purchase of bonds, and, two, E Bonds are one of the investment choices open to members of the new Sohio Employees' Investment Plan.
ANSWERS TO "TEST YOURSELF": 1. a-added to an individual's account; 2. a-67 per cent; 3. c-4; 4. a-forfeits the company's contribution; 5.a-the company's profits; 6. a-true.
The Sohio News
The Sohio News is published monthly to circulate news of company events and personnel activities of The Standard Oil Company of Ohio and its subsidiaries, the Sohio Petroleum Company, Sohio Pipe Line Company, Sohio Southern Pipelines, Inc., and Fleet-Wing Corporation.
Address all news items, correspondence and exchange to the Editor, the Sohio News, The Standard Oil Company of Ohio, 1823 Midland Building, Cleveland 15, Ohio.
frances kenney .......... Editor
F. M. paulson. . . . Associate Editor
ann neubauer. . . . Assistant Editor
june eppink. . . . Assistant Editor
john trauger. . .Staff Photographer
NEWS REPORTERS
st. Louis offices. Evelyn Thorn ton
home office ..... .june eppink
Sales Divisions
akron ........ Margaret Sullivan
canton ............. Dan Baker
cincinnati ....... Mildred Wendt
cleveland ........ Hal Johnston
columbus ....... Thelma Adkins
dayton .......... Gilda Warner
lima ............... Ruth Short
mansfield ........ Helen Drushal
marion ......... Betty Anderson
portsmouth ....... Joan Collins
toledo. .......... .F. E. Gipson
youngstown .... W. I. Smith, Jr.
zanesville ........ Edrie Dawson
Manufacturing
can factory ..... Amy Awroski
latonia refinery. . W. L. Moran
lima refinery .. R. K. Jewell/ Irwin Wauben
No. 1 refinery. . . .Tom Burden
No. 2 refinery .... Agnes Masek
toledo refinery. .F. E. Gressler
Production Districts
abilene ........... Jo Rogers
centralia ...... Vera Landon
houston .......... Elaine Jones
kansas ............ Ben Brown
kentucky . . . Marjorie Greenwell
midland ........ Dorothy Etter
oklahoma ....... Peggy Dutton
regina, canada. . Doreen Cooney
rocky mt. . . . Dorothea Knepper
south louisiana …….. Willa Mae Riedlinger
shreveport. ..... .Ruth Howell
Transportation
eastern Div. .... Harriet Craven
tri-state Div... .R. J. Hagedorn
sohio southern . .Jewell A. Nolan
PROOUCTS PIPELINE.W. P. Kinnear
Jointly Celebrate Triple Events
CLEVELAND-In the Robert Witter household, at 1342 East 143rd St., June 25 always calls for a celebration. But this year's was something special!
Mr. Witter—head of the Fuels and Lubes Service Lab at No. 2 Refinery — not only celebrated his forty-fifth birthday, he and his wife Dorothy their Silver Wedding, but also his parents' Golden Wedding anniversary.
The senior Witters, Ernest and May, jointly celebrated their anniversary and their son's with an open house for friends and relatives at their home, 1312 East 141st St.
Joining them for the festivities were their other son Raymond, two grandchildren, and one great-grandson.