Document 7OzK56akG8DJEZKL63DBY4kD8

PUBLISHED BY THE MARINE DEPARTMENT, HUMBLE OIL & REFINING COMPANY Vo! 10, No. 4 February 22, 1968 More Light on the 20-Year Retirement, Any Age This is still a favorite conversation piece in the Fleet and it is still surrounded with considerable fog. Maybe the following will help clear up some of the haze about some points. Q. What are annuities? A. Annuities, as they apply to Humble sea going employees, are monthly payments made to you after you retire. Annuities are sometimes called pensions. Q. I don't understand this business about the Company "taking credit" for its Thrift Fund con tributions after Jan. 1,1968. A. It is correct that the Company will take credit for its Thrift Fund contributions after Jan. 1, 1968 but it won't take back the money. The money is yours and if and when you retire under this special program you will have a choice; either take the Company's contributions in cash and re ceive a smaller monthly annuity check (the reduc tion would be the amount of annuity the Company contributions would buy), or use the Company contributions to purchase an annuity. This, with other Company payments, will give you $250 a month. Q. If I decide I want the full $25 0 per month, will the Company help in some way with the pur chase of an annuity with the money it contributed to my Thrift account? A. Very likely an arrangement will be worked out to make it easy for you. Q. What advantage would there be to taking the Company contributions in cash and receiving a smaller monthly annuity? A. One advantage to taking the cash would be to put it in a savings bank and, at 5% interest, you could receive almost as much monthly in inter est as you would from an annuity. And you would still have your cash. Here's an example: the Company's Thrift con tributions on just the present normal pay of an AB, Oiler or FWT would amount to $2,460 in 6 years. This would'buy an annuity of $13.87 a month, starting at age 50. If the $2,460 were put in a bank at 5% interest, the interest would amount to $10 a month. For a man under age 50, the difference between the interest and the annuity would be even less. You can probably think of other ways to use a few thousand and perhaps make or save even more, such as paying off on a high-interest mort gage. Q. If pensions are raised in the future, is there any provision in our proposed Agreement to in crease the pension of men who have already retired the way the NMU does? A. There is no such provision in our Agree ment and neither is there in the NMU contract. The NMU has increased pensions of previously re tired men (and also hit them with a $100 a year service fee) but there is no guarantee that they will continue this practice in the future. Q. I think the terms of the Agreement that call for the pension to stop if a man sails in another American Flag vessel is unfair and unreasonable. Of what interest is it to the Company how I earn my living after / retire? A. One of the main justifications for a pen sion at any age after 20 years' service is that going to sea prevents a man from living a normal family life. In some cases this is a hardship, so, if the proposed agreement is ratified, a man in his 40s with 20 years' service can now settle down and be a model family man and have a $250 a month pension for life. But if he is going to continue a life at sea, the purpose of the pension is destroyed. Another thing--suppose Humble, Mobil, NMU, SIU had no restrictions about going back to sea after retiring on a 20-year pension. Everyone with 20 years' service would see a golden opportunity to retire, draw his pension and go to work for a different outfit. Men would just be trading jobs !< I- U2 < THE UNIVERSITY OF TEXAS a t Au s t in with fat increases in pay, and that's not the reason for the pension. Q. If the Agreement is ratified, how and when will the $160, $200, $240 and $260 lump-sum pay ments be made? A. Payments, minus the usual deductions, will be made as soon as possible after ratification to unlicensed men (except Stewards) who were on the payroll on Jan. 1, 1968. Separate checks will be sent to vessels or ashore, depending upon where each man is. New Regular Employees Temporary employees who have accepted regu lar employee status during the past few' months include the following: Rex G. Carpenter William L. Coveney Patrick J. Fehily Charles C. Gallagher Robert Garcia Ernest M. Hardin Almouth C. Herod George W. Jensen Charles J. Matyi Charles J. Murphy Richard J. Senegal Alton H. Tschirhart It is expected that faster action in transferring temporary employees to regular status will be possible in the future. The time lag in many cases has been due to the employee's delay in getting a physical examination. Now, if the temporary em ployee had a good pre-employment physical report and there is no reason to suspect any change in his health, a second physical will not be required. This looks like a giant outboard motor (it's 25' high) but it's actually a bow thruster for a 4th Mississippi River tow being built for the Com pany. The unit will be installed ver tically in a well, or tube, on one side of one of the 2 lead barges of the 8-barge integrated tow. The engine is a 500-hp., 16 cyl inder General Motors diesel (really 2 V-8s in tandem) and drives a 5Vi' propeller through right angle gears. Electrically operated controls in the wheel house of the towboat, about 1,050' astern, will start and stop the engine, vary its speed, control the direction of thrust and raise or lower the unit as required by the draft of the barge. Because the whole unit will be in a vertical position in service, engine bearing lubrication is by a pressur ized system instead of the usual crankcase arrangement. New Thrift Fund Loan Form Required Employees applying for Thrift Fund loans are now required to state the planned use of the money being borrowed. This new procedure, which applies to loans granted after Feb. 1, is a requirement of a regu lation issued by the Board of Governors of the Federal Reserve System. The Trustee of the Thrift Fund is endeavoring to obtain clarification from the Board of Gov ernors of the Federal Reserve System regarding the application of their new Regulation G to Thrift Fund loans. Pending such clarification -- a. New loans will not be granted where the purpose of the loan, in whole or in part, as stated on Federal Reserve Form G-3, is for purchasing or carrying a registered equity security, which includes Standard Oil Co. (N. J.) stock, immediately, incidentally, or ultimately; b. Loans will not be recast where the purpose of the original loan (which must be stated on Form G-3 also) was for purchasing or carry ing a registered equity security, even though the net proceeds to the participant are for a purpose other than purchasing or carrying a registered equity security. If the proceeds of the loan are not to be used to purchase or carry registered equity securities, the loan application will be processed in the usual manner. A Statement of Purpose (Form G-3) must accompany each loan application, stating in detail the purpose for which the proceeds of the loan are to be used. Company Flans Early Development' Of California Offshore Acreage Humble announced Feb. 9 that it will begin drilling on newly-acquired acreage off the Cali fornia coast as soon as possible after federal leases are issued. Bidding individually or as a member of a 3company combine, Humble acquired an interest in 234,814 acres in the Santa Barbara Channel at a cost of approx. $218 million. The Company was the largest purchaser among the 25 oil companies participating in the federal sale. ESSO FLEET NEWS is published for the seagoing em ployees of the Marine Department, Humble Oil & Refining Co.: T. J. Fuson, General Manager; Sydney Wire, Assistant General Manager. W. E. Gardner, Editor Contributions and suggestions are invited and should be addressed to The Editor, Esso Fleet News, Humble Oil & Refining Co., P. 0. Box 1512, Houston, Texas 77001. CCIPIPO FI!OM THE COLLECTIONS IN THE CENTER FOR AMERICAN HIST! THF. UNI VFUSITV n r T r v e a t a iic t im -- RECENT RETIREMENTS Captain Victor T. Springer, then a lad of 17, started his sea going career in 1927 as a cabin boy in the West Zeda. a Hog Island freighter flying the Waterman house flag. He spent a few months in the Esso fleet in 1929 and a few more with the Bull Line, Munson, McCor mick S.S. Co. and AGWI Lines, then returned to Esso---for good -- on Aug. 1, 1930. During his 36 years, 10 months of credited service. Captain Springer served in every Deck Dept, capacity, sailed throughout World War II as Third, Second and Chief Mate in 5 vessels and, in later years, had an impressive number of "firsts." Among these were: Kern Hills, 1951, first T2 to load in Lake Mara caibo (Master). Esso Reading, 1955, first Company vessel to enter Lewisporte, Newfoundland (Chief Mate). Esso Suez, 1961, first supertanker (then) into Quincy, Mass. (Master). Esso Boston, 1963, first vessel of her size to enter Corpus Christi (Master). After his first command, the A. C. Bedford in Feb. 1948, Captain Springer sailed as Chief Mate and relieving Master until Nov. 1962, when he became Skipper of the Esso Lima. He has been Master of the Esso New York from July, 1963 until his retirement, Feb. 1. Captain Springer and his wife Doris live in Flushing, N. Y. Chief Engineer Karl M. Waagonas. "Now that I have gone to pasture," Mr. Waagonas said following his retirement, Jan. 1, "I will live on my farm in Vermont in the summer and in Florida in winter. I have many pleasant memories of the best firm I have ever worked for and the many wonderful friends I have made. To all my shipmates who have heard my refrain `fellows, you do nice work,' I meant it and I wish you all smooth sailing." Born in Trondheim, Norway. Mr. Waagonas sailed in a coastal steamer as a deck boy at the age of 16, then in ships of several nations, in cluding American. He worked for a Brooklyn ship repair firm but shortly after World War II started, he attended New London Maritime School and returned to sea as a Third Asst. Mr. Waagonas sailed throughout the War and joined the Company as First Asst, in the Esso Crossword Puzzle By Radio Officer William J. Williams ACROSS 1. Length 7. Petroleum By-Product 13. Ship's Hose Connection 14. Indian.......... 15. Sun God 17. Fruit 18. Boy 19. Pronoun 20. Ovum 22. Port ...... , Texas 25. Be (Present Tense) 26. Flower 28. Nose (Slang) 29. Man's Name 30. Class (Biol.) 32. Insecticide 33. Pay Out 34. Compass Dir. 35. Narrow Way 37. Makes Fast 39. Fish Eggs 40. High Cliff 41. Ordinal No. 45. Sea Story 46. Near 48. Best 49. Past 51. At No Time 53. Narrow Road 54. Audibly 56. Attempt 57. Inhabitant of (Suffix) 58. Ladled 60. Bite 61. Company (Abbr.) 62. Military Address 63. Mirth 65. Each (Abbr.) 66. Rage 68. Levels 70. Small Room 71. Blushes DOWN 1. Type of Articles 2. Correlative 3. Summit 4. On the Ocean 5. Cogwheels 6. Missions 7. Exclamation 8. Glory 9. Vegetable 10. Young Boy 11. Indefinite Article 12. Reaches 16. Harmonize 19. Girl's Name 21. Beverage 23. Incline the Head 24. Drunkards 25. Affirm 27. Most Excel lent 29. Turned Down 31. French River 33. Contempt 1 23 13 15 16 17 20 21 26 27 30 34 35 39 41 42 43 48 53 57 36. Place 38. Greek Letter 41. Joined 42. Lyric Muse 43. Trailing Plant 44. Aura 45. Not as Old 46. Eagle's Nest 456 22 23 28 31 32 36 44 49 50 54 58 47. Surgical Instruments 50. Sticky Mess 52. Covered Truck 54. Nautical Direction 55. Dig Into 58. Blemish 7B 9 59. Legal Document 62. Devoured 64. Finish 66. Tin (Abbr.) 67. Personal Pronoun 69. Compass Direction 10 1 1 12 14 jxj 18 19 24 25 29 j:jx 33 37 38 AO 45 :;jx 51 46 47 52 55 56 59 60 6 1 62 63 64 65 66 67 68 69 70 71 Asheville on Nov. 10, 1947. During most of his 20 years' service he was First Asst, and Chief Engr. He spent considerable time in the Esso Scranton, including her round-the-world voyage last year, and rates her "by a great margin my favorite of all the ships I have sailed on." First Asst. Engineer William T. Peace went to sea in 1942, after 10 years as a stationary engineer in New York. He sailed as a deck engineer, jr. third, second and first asst, and once was in Antwerp when "buzz "x bombs" were going overhead. On Oct. 1, 1947, after a few more years in a power plant, Mr. Peace joined the SERVICE EMBLEM AWARDS 30 YEARS Roland E. Parkhurst Master December 10, 1967 William A. Dundon Chief Engineer February 17, 1968 20 YEARS Roy O. Berg Second Mate January 31, 1968 Eugene W. Gardner Third Mate November 29, 1967 Elbert F. Proveaux Second Asst. Engineer December 2, 1967 Edmund F. Jutz Fireman-Walertender November 27, 1967 Eduardo Tavares Chef December 22, 1966 Joseph M. Cruz Utilityman January 31, 1968 1 YEARS Clayton C. Sims Third Asst. Engineer December 16,1967 Clyde C. Fluitt, Jr. Abie Seaman December 20, 1967 Esso Manhattan as Jr. Third Asst. His 20 years in the Fleet were continuous and nearly all as Second and First Asst. "It was with a little sadness that I left the Esso Lexington before retiring Jan. 1," Mr. Peace said, "for I knew I was leaving many friends and pleas ant memories. I wish to thank all my shipmates for their friendliness and cooperation during my many voyages with them. "I have worked with many companies, both sailing and ashore. Esso is the best company for a working man I know, including Civil Service." Mr. Peace lives in Baytown with his wife Maryon, who is the champ fisherman of the family but, Bill says, "I hope to change that." Fireman-Watertender Leo A. Roderick had 18 years as Messman, Wiper and FWT. He was granted a disability retirement, as of last October, after more than a year of sick leave. Joining the Esso Wilmington as Messman on Oct. 23, 1947, Mr. Roderick changed to Wiper 6 years later and to FWT in March 1959. He was bom in Nantucket and lives in Fairhaven, Mass, with his wife Ida. ^---- r "i TAFFRAIL TALK - > Albert T. Fellows, who has been involved in repair work off and on for the past 4 years when he wasn't sailing as First Asst, or Chief Engr., tranferred to the shoreside payroll, Feb. 5 as a Repair Inspector. John A. Tompkins, Third Asst, in the Esso Gloucester, is scheduled to transfer to the Ship Operations Division, Tanker Dept., Esso Interna tional Inc. in New York on Feb. 26 as a Technical Assistant. We don't know how much observance of St. Valentine's Day there was in the Fleet but the occasion did not pass unnoticed aboard the Esso Bangor. Second Cook James P. Sibley baked 2 big cakes and decorated them with pink icing and stra tegically-placed cherries. If the cakes were as good as they looked and in the same league as his apple cobbler, they were delicious. ' T "^OBITUARY ^ , 3?:* Jessie A. Schooling, 65, who retired 5 years ago as MM/2nd Pumpman, died Feb. 3 in Meyersdale, Pa. His wife Elsie sur vives. Mr. Schooling joined the Company in March 1942 and shipped out in the G. Harrison Smith and 4 other vessels during the War. He had 19% years' service when he retired Feb. 1, 1963.