Document r8bB9Epvv2LZ0wD9vXrrm7yJ

Thrift Prospectus Being Mailed To Employees Soon All regular employees will soon receive in the mail a copy of the Thrift Plan Prospectus which is filed annually with the Securities and Exchange Commission. A similar Prospectus was mailed to employees last year. The Prospectus includes a re port of the Thrift Fund's opera tions for the calendar year 1973, its financial statements as of the end of 1973, and a summary of the provisions of the Thrift Plan. This is one of the routine re ports that the company sends to employees which sometimes get shoved aside for other reading matter. However, the Prospectus contains much valuable informa tion and requires only a little studying to answer questions, such as who pays the cost of administering the Thrift Fund? What interest rate do you pay on Thrift loans? What are Thrift Fund Earnings and where do they go? A retired chief engineer, Nunzio Consoli, recently said that he got the answers to most of his ques tions simply by reading the Pros pectus. Be sure to check through your copy and file it in a conve nient place for easy reference in the future. $1.10 Dividend Announced Exxon Corporation has an nounced a dividend of $1.10, pay able June 10, 1974, to sharehold ers of record May 10, 1974. This will bring the dividend payments for the first half of 1974 to $2.20 per share, which compares with $1.90 for first half of 1973. Sunken Dredge Delays Four Exxon Tankers AS THE RESULT OF a three-ship collision in the Galveston entrance channel on April 24, the U.S. Corps of Engineers' hopper dredge, A. MacKenzie, above, was sunk and 2 other ships suffered bow damage. The sunken dredge partially blocked the channel, causing delays in arrival and departure times of four Exxon tankers, The Exxon Baton Ida Green owned by the Marine Rouge and the Exxon New Or Biomedical Institute of the Univer leans, inbound for Baytown, were sity of Texas Medical Branch. Al delayed 14.8 hours and 12 hours, though she had a crumpled bow, respectively. The Exxon Houston she was able to pick up all the and Exxon San Francisco were crew from the rapidly sinking each delayed about 12 hours in dredge. leaving Baytown. Both ships The second assistant engineer loaded to only 36 feet in order to aboard the Mackenzie said he be pass around the dredge. lieved the reason nobody was The Mackenzie was rammed on killed or seriously injured aboard her starboard quarter by the Nor- his vessel was because of safety wegian-Flag tanker Bow Elm, in precautions and drills held every bound for Houston. She sank in day. "You can't appreciate too an upright position within 15 min much how these drills helped save utes in forty feet of water, her the lives of men aboard the Mac bow near the north bank of the kenzie," he said. channel and the stern toward the This can serve as an example centerline. The Bow Elm sustained to all Exxon seagoing and inland a gash about 10 feet long and 18 personnel to wear lifejackets and inches wide in her bow. Also involved in the collision continue to take lifeboat and other drills seriously. Such precautions was the 130-foot research vessel could save your life. I EXX-MOR-006576 Exxon Gettysburg Is First Tanker To Load Unleaded Gasoline For Exxon Stations The Exxon Gettysburg on April 6 became the first vessel in the fleet to load unleaded gasoline. On that date, she took on some 48,000 barrels of Exxon Unleaded at Baytown for discharge at Mar keting Department terminals at Wilmington, North Carolina, and Charleston, South Carolina. Exxon tankers are loading the gasoline at Baytown and Baton Rouge refineries which are pro ducing it to meet requirements of a Federal Environmental Protec tion Agency regulation. Spe cifically, the regulation is that any service station (Exxon or other) that sold at least 200,000 gallons in any calendar year beginning with 1971 must offer for sale at least one grade of unleaded gas oline by July 1. This is to meet Federal requirements for 1975 model cars. Exxon Unleaded, which will replace Exxon Plus, has the same outstanding quality characteristics of Exxon and Exxon Extra gasolines. It will ex ceed the EPA requirements of a minimum 91 Research Octane. The refineries will continue to make Exxon and Exxon Extra gasoline which we will deliver to terminals as in the past. To ensure that the July 1 dead line can be met at service sta tions, it was necessary to begin lifting early this month for delivery to Gulf/East Coast terminals to allow time for further delivery by barges to inland terminals for distribution to service stations. Other vessels loading Exxon Un leaded at either Baytown or Baton Rouge during the early part of April included the Exxon Houston, Exxon New Orleans, Exxon San Francisco, and the Exxon Sun shine State/Port Everglades. In preparing each vessel for loading Exxon Unleaded gasoline, the crew carefully flushed tanks and made sure that they were drained dry before loading began and that all lines were completely drained and free of leaded gas oline. A series of tests at Baytown recently showed that the lead con tent of just three gallons of leaded gasoline would raise the lead con centration of 1,000 gallons of Exxon Unleaded by 0.01 gram per gallon. The EPA regulation states that unleaded gasoline at the ser vice station nozzle must have no more than 0.05 grams of lead per gallon. The EPA says that it will en force this regulation by using mo bile units to spot check service stations. A maximum fine of $10, 000 per day could be imposed if the lead content is found to ex ceed the prescribed limits. There fore, it is highly important that ocean and inland personnel do Which Gasoline? The introduction of Exxon Un leaded gasoline quickly gives rise to two questions: 1) 1 have an older car and have been using Exxon Plus. What do I use now? and 2) if ! buy a 1975 car, what if 1 prefer to use a leaded gasoline like Exxon Extra? The answer to the first question is: Exxon Unleaded gasoline will not have sufficient octane quality to satisfy the requirements of the high compression engines of 1970 or older model cars. Furthermore, Exxon USA would not recommend that any 1970 or older car use un leaded gasoline. Now that Exxon Plus is being discontinued, owners of older cars should first try Exxon gasoline. If knocking occurs, the obvious switch is to. Exxon Extra. Leaded or unleaded gasoline can be used in 1971-1974 model cars. If Exxon Unleaded knocks or "pings," try Exxon or Exxon Extra. The answer to question No. 2 is: First of all, it will be illegal to fuel any 1975 model car requiring unleaded gasoline with a product containing over 0.05 grams of lead per gallon. Secondly, all 1975 model cars will be equipped with a special (smaller) fill pip'e and only the special nozzle installed on unleaded gasoline pumps will fit. their part in delivering an on-spec product by making sure their ves sel's cargo system for loading and discharging unleaded gasoline is free of any leaded motor or avi ation fuel. Conserving Energy Chief Engineer William W. Mc Kay checks the operation of a steam drain trap in the Exxon Lexington. Steam traps, when working properly, can save large quantities of steam and are im portant elements in the econom ical operation of a steam plant. They perform several important functions: they prevent steam from blowing wastefully through heaters; protect the heater from undue stresses and element fail ures caused by alternate flooding and draining; help attain max imum heat transfer by maintaining normal steam conditions within the heater; and prevent water hammer in condensate drain lines. Because they are subjected to severe operating conditions, steam traps should be checked at least once a year. Properly operating steam traps contribute to the effi cient operation of a ship and a ship that operates efficiently saves fuel. Saving fuel is what Energy Con servation is all about. Equity Unit $10.50 The Thrift Fund Trustee re ports that the value of each unit in the equity portfolio as of the last business day in March 1974 was $10.50. Page 2 Exxon Fleet News r Mid-Atlantic Group Wins ist In Towing Safety Contest Employees in the Mid-Atlantic inland waterways fleet (Baltimore, Paulsboro, and Norfolk) captured first place in Division 2 of the 1973 towing industry safety con test sponsored jointly by Amer ican Waterways Operators, Inc. and the National Safety Council. Tugs, pull-towing, or towing alongside make up the Division 2 category in which a total of 19 companies participated. The MidAtlantic group worked some 254, 000 manhours during the year with no disabling injuries--more than three times the manhours recorded by their nearest com petitor in the contest. The first-place award represents a significant improvement by the employees who in 1972 had three disabling injuries and finished 10th among 18 competitors. The dramatic rise from 10th to 1st place in just one year cannot be attributed to a specific action, but it is believed that periodic safety meetings conducted by the captain aboard each vessel con tributed significantly to the achievement. Employees in the Boston Branch inland waterways fleet were also recognized by the National Safety Council for their record of zero disabling injuries in 1973 in the Division 3 category (towboat, push towing, and barge tows). There were 17 contestants in this cate gory. The branch finished in third place by virtue of the fact that employees worked fewer man hours than the top two contend ers. This was the second year that Boston employees have worked without a single disabling injury and at Fleet News press time, they were still going strong. The Mid-Atlantic branch had no disabling injuries until March when one occurred at Norfolk. "I congratulate all these em ployees for working with a safety awareness that enabled them to -Asking- WTkwti! BADY ^Troublb! . -Steel'Toes Hon-Slip Soles Have you purchased your new safety shoes yet? You can still get them at the industrial list price less 5 per cent, which is from 25 to 50 per cent below the normal commercial price. AND, in addition, the Marine Department will pay 50 per cent of the cost of the FIRST pair that you buy--for a limited time yet--pro viding you use the subsidy card which was sent to you earlier. If for some reason you do not have a subsidy card, you can get one from the master or any branch office. Masters and branch offices also have ordering forms and other information for making purchases. Safety shoes are attractive and come in a variety of colors and styles. They have steel caps in the toes and safety soles--some even have specially-designed soles to improve their "non-slipping" capa bilities. The shoes also offer good substantial protection for the entire foot. Now is the time to buy if you want to save money, but more im portantly, NOW is the time to start wearing them to prevent injuries. eliminate disabling injuries last year," said A. D. Mookhoek, port operations manager and co-chair man of the Marine Department Safety Committee. "We like to receive recognition for safety achievements, but the big payoff comes to the man himself when he avoids injuries and prevents the pain and suffering that go along with getting hurt." Mr. Mookhoek pointed out that so far this year, the total inland fleet has reported four disabling injuries, eight less than last year this time. "We're headed in the right direction and I urge every one to continue his safety efforts --think the job through, perform the work carefully, and keep alert to avoid any mistakes that might cause injuries," he said. April 29, 1974 Page 3 ! I L. EXX-MOR-006578 Il Complete 2nd ABjLifeboatman Course; Class Averages 95.7 On Coast Guard Exam "The Coast Guard exam wasn't a snap by any means, but we all studied hard and practiced our assignments so that we were ready for it," said Victor Molina, Jr., who passed the exam with a grade of 99. "I hadn't taken a written exam since I finished high school about 30 years ago, but after answering the first few questions asked by the Coast Guard, my confidence returned and I sailed right through without much trouble," said Walter J. Siminski. "At the beginning of the twoweek training period, I had to learn to study all over again be cause, like Walter, I hadn't cracked a text book in many years. But after about the second day I settled in and by the end of the course I was pretty sure that I could answer nearly any question that the Coast Guard could ask," said William Jenkins, 111. "I also reaped a side benefit during the two weeks I was here --I lost about 10 pounds. I think I worked it off during rowing exer cises when Mate Mike Sharik really made us bend our oars." The above quotations came from students who completed the Marine Department's second AB/ Lifeboatman training course held aboard the Texas Marine Acad emy training ship, Texas Clipper. The 11-member class completed the course on April 11 when they took the Coast Guard examination which they passed with an out standing class average of 95.1. "I could have raised that average if I had thought just a little longer about one question that I missed," said George A. Mathewson. "After I turned in my paper, the answer came to me like a flash." "I look upon this training as a great opportunity to further my career in the fleet and I plan to study for future advancement, as a number of others in the class plan to do," said Antonio Gomes. "I'm proud that we have men like these in our fleet," said Michael Sharik, III. "They truly dedicated themselves to their studies and efforts to improve their skills. I'm sure that they will make valuable contributions to the efficient operation of our fleet." The last two-week class for this year began on April 15. Instructor Michael Sharik, III, left, and Victor Molina, Jr., happy over 95.1 class average. As part of their classroom studies, six of the 11 men who participated in the second AB training class are shown here reviewing first aid and other life-saving techniques. From the left are Walter Siminski, Millage W. Becker, Ulisses Gomes, Victor Molina, Jr., Manuel L. DeBrito, and Antonio Gomes. Remaining members of the class, are shown demonstrating their knot-tieing skills. From the left are Manuel P. Goncalves, William Jenkins 111, George A. Mathewson, Alberto Monteiro, and Lee C. Brown. Page 4 Exxon Fleet News -006579 Tug Crew Saves Dutch Ship From Possible Damage Personnel in the tug Exxon Delaware Valley, operating out of the Paulsboro, New Jersey, office, were recently commended for Exxon Announces Estimated Earnings Exxon Corporation on April 23 announced estimated consolidated earnings for the first quarter of 1974 at $705 million or $3.15 per share, 38.8% over the $508 million of 1973. However, these results represent a decline of 10.4% when compared with fourth quarter 1973 earnings of $787 million or $3.51 per share. Earnings from petroleum and natural gas operations worldwide were 2.1 e per gallon of sale. Highlights of the first quarter were the following: --costs of Middle East oil were uncertain due to anticipated changes in the participation agreement. --increased U.S. tax, applicable to foreign earnings, is expected to be retroactive to Jan. 1, 1974. --sale of year-end 1973 inven tories abroad at prices reflect ing, in part, the higher crude oil costs, contributed $80 mil lion to first-quarter earnings. --U.S. crude oil prices have in creased. --chemical earnings were up sharply. --capital and exploration spend ing increased 52% to $782 million. Chemical earnings totaled $94 million as compared with $33 million in the first quarter of 1973. J. K. Jamieson, Exxon Corpora tion Board Chairman, said that first-quarter earnings from petro leum and natural gas operations in the U.S. totaled $220 million, as compared with $224 million in the fourth quarter of 1973. First quarter 1973 earnings were $189 million. their quick, efficient action in moving a Dutch dry cargo carrier from anchorage after a Greek tanker exploded nearby. The Greek tanker Elias ex ploded late on April 9 while dis charging crude oil at the Atlantic Refining Company Terminal near Paulsboro where the Exxon Dela ware Valley was tied up. "The crew quickly got the tug underway and arrived on the scene at 2210," Mr. Piercy reported. "By then, the Elias was afire from bow to stern and burning oil had spread to within 125 feet of the Dutch ship, Nedlloyd Carwell. Captain Oscar M. Vansant of the Exxon Delaware Valley contacted the ship and offered assistance in moving her. Mate Ralph Brooks, who was then undergoing docking pilot training, and Captain Van sant maneuvered the vessel out of anchorage and away from danger down stream. "The crew in the Delaware Valley stood by the Nedlloyd Car- well until notified by the Coast Guard that it was safe to return the ship to anchorage," Mr. Piercy said. Captain Vansant praised his crew, including Mr. Brooks and Deckhands Raymond E. Fernald, Frederik A. Kaufman, and Cook Thomas W. Custis, all who re mained at their stations ready to render help when needed. "It was a rough way for me to perform my first pilot handling job, but I was very glad I could help in the emergency," Mr. Brooks said. Mr. Piercy reported that the crew in the tug conducted a search and rescue operation in an area south of the explosion scene to determine if anyone from the stricken vessel had been carried by the ebb tide. During their search, what was thought to be small red lights in the water turned out to be embers from the fire. The latest toll of the Elias is 3 killed, 9 missing, and 14 injured. Thanks Expressed In Letter To Exxon Delaware Valley' DICHMANN, WRIGHT & PUGH, INC. SHIP AGENTS AND DItOlCEHS Ccbl. Ad DICMA Philadelphia, Pa. April 11* 1974 Mr. J. A. Piercy, Manager Exxon Marine Department Paulsboro, New Jersey Dear Sir: Dutch M/5 "NEDLLOYD CARWELL" As agents for, and on behalf of the Master, Officers, and Crew of the above vessel, we should like to express our sincere thanks to the Captain and Crew of the Tug "EXXON DELAWARE VALLEY" for the assistance rendered the M/S "NEDLLOYD CARWELL" in changing her anchorage at Mantua Creek, Philadelphia, after the explosion * and fire aboard the Greek M/T "ELIAS." The exolosion, which occurred at the ARCO Terminal, Fort Mifflin, on Tuesday* April 9, 1974, endangered vessels in the surrounding area. We have been requested by the Master, Officers, and Crew of the M/S "NEDLLOYD CARWELL" to convey their sincere gratitude and thanks to the Captain and Crew of the Tug "EXXON DELAWARE VALLEY" for the efficient and prompt action they exercised in shifting the vessel to a safer anchorage. Many thanks for a job well done. Very truly-yours, DICHMANN, BRIGHT*t/UGH, INC., AGSNT5 C. Roger Evans Vice President April 29, 1974 Page 5 EXX-MOR-006580 'Gettysburg' Helps Rescue Small Boat The Exxon Gettysburg has again participated in a small-boat rescue operation. Several weeks ago, per sonnel in the ship helped the Coast Guard rescue three men stranded in a boat some 50 miles south of Miami, Florida. On April 18, officers and crew members again came to the aid of a small boat. Captain Herbert J. Swift writes: "While enroute from Baytown to Everett, assistance was given on April 18 to a small outboard motor boat off the Florida Keys. At 1700, the boat was sighted with two people aboard waving to attract attention. We proceeded to within hailing distance and found that they were in no immediate danger. They had engine trouble and no means of communication. "We notified the Coast Guard at Key West by VHF and were re quested to stand by the boat. The weather was good with the sea moderate to smooth. We found out that they had been drifting for about 24 hours so gave them sandwiches, coffee, and water. "At 1933, the Coast Guard cut ter Cape York arrived and took the two people aboard and the boat in tow. At 1940, the Cape York released us and we pro ceeded on our voyage." DESTROYED BY FIRE--The steamboat Sprague, for years a landmark on the Mississippi River waterfront at Vicksburg, was destroyed by fire recently. The Sprague, known by early-day rivermen as "Big Mama," was the largest sternwheeler in the world. Her 37-foot diameter paddlewheel weighed almost 80 tons. She was built in 1901 in Pittsburgh for a coal and coke company and used to push coal barges. She was pur chased in 1925 by the then Standard Oil Company (N.J.), and put in service taking barges loaded with crude oil from Grand Lake, Arkansas, to Baton Rouge, Louisiana. Later, the company used her to tow barges carrying products from Baton Rouge to Memphis, and points in between. Her record tow was 245,000 barrels. She gained great fame in 1927 when she pushed empty barges to the crumbling levees around Green ville, Mississippi, to rescue thousands of people from the flooded coun tryside. She had recorded more than 4 billion tonmiles of service when the company retired her and donated her to the City of Vicksburg in 1948 where she was tied up below a levee and turned into a museum displaying relics of the Golden Age of the Mississippi. She again came into the limelight when she was a star in MGM's musical "Showboat." The Sprague was also the setting for the Showboat Players Gay Ninety Melodrama "Gold In The Hills," presented twice weekly from March through September each year. Tourists drove for miles just to visit her. ESA Agreement Signed A 3-year Agreement, effective September 1, 1973, through Au gust 1, 1976, was signed between the Esso Seamen's Association and the company on April 22. The Agreement, subject to ratification by the membership, provides for increases in base wages, overtime pay, paid leave, and other im provements, including pay adjust ments for pumpmen and person nel assigned in messman /utilityman ratings. Also effective on ratification will be a provision for one 15-day leave of absence per year in conjunction with paid leave at the option of the seaman, and the establishment of a new oiler COS classification for 75MDWT vessels. Details of the agreement have been sent to ships for posting on bulletin boards. FIRST SHIPMENT OF POST-EMBARGO CRUDE--The Esso Barcelona is shown soon after docking at Bayway Refinery on April 11. She dis charged some 500,000 barrels of Algerian crude, the first shipment of post-embargo crude oil consigned to Exxon USA since the embargo was lifted. Other shipments of post-embargo crude, including Middle East crude, were received during the month, both at Bayway and Benicia. More are scheduled. Site Being Prepared Site preparation is underway at Baytown Refinery where a $300 million expansion program will start soon to give the refinery a capacity of about 650,000 barrels a day--250,000 more than its present capacity. The work is scheduled for completion late in 1976. This will make Baytown one of the largest, if not the largest, refineries in the world. EXXON FLEET NEWS is published every other Monday for active and retired em ployees of the Marine Department, Exxon Company, U.S.A. (a division of Exxon Cor poration); O. R. Menton, General Manager. GENE LEGLER.......................................... Editor Contributions and suggestions are invited and should be addressed to the Editor, EXXON FLEET NEWS, Exxon Company, U.S.A., P. O. Box 2180, Room 4193, Hous ton, Texas 77001. Page 6 Exxon Fleet Mews