1930's Socony Oil & Vacuum Oil Company
23 Yrs Service Medallion, 10K Gold & Diamond
1.7 grams, maker marked LGB 10K, small white diamond
Gold value is $35
Diamond value is at least $5
then add the collector value
History
Following the break-up of Standard Oil in 1911, the Standard Oil Company of New York, or Socony, was founded, along with 33 other successor companies. In 1920, the company registered the name "Mobiloil" as a trademark.
Henry Clay Folger was head of the company until 1923, when he was succeeded by Herbert L. Pratt. Beginning February 29, 1928 on NBC, Socony Oil reached radio listeners with a comedy program, Soconyland Sketches, scripted by William Ford Manley and featuring Arthur Allen and Parker Fennelly as rural New Englanders. Socony continued to sponsor the show when it moved to CBS in 1934. In 1935, it became the Socony Sketchbook, with Christopher Morley and the Johnny Green orchestra.
Vacuum Oil was founded in 1866 by Matthew Ewing and Hiram Bond Everest, of Rochester, NY. The lubrication oil was an accidental discovery while attempting to distill kerosene. Everest noted that the residue from the extraction was suitable as a lubricant. Soon after, the product became popular for use by steam engines and the internal-combustion engines. Ewing sold his interest to Everest, who carried on the company.
Vacuum Oil and Standard Oil of New York (Socony) merged in 1931, after the government gave up their attempts to prevent it. Their union, creating Socony-Vacuum Corp. made them the third largest (at the time) world oil company. Everest was given a salary job as President and remained with the company.
In 1931, Socony and Vacuum Oil merged, and in 1955, the company became Socony Mobil Oil Company. In World War II, the Tschechowitz I & II subcamps of Auschwitz in Czechowice-Dziedzice provided forced labor for Vacuum Oil Company facilities in Nazi Germany. In 1963 it became "Mobilgas" then just "Mobil".
Legal Problems
In 1887, founder Hiram Bond Everest and son Charles M. Everest were charged with conspiracy to destroy competitor Buffalo Lubricating Oil Co. It is said that they were attempting to destroy the buildings, preventing them from manufacturing petroleum products, as well as acquiring their skillful employees. One said employee included Albert A. Miller who was being bribed to construct defective machinery so that it would explode. Hiram Everest and Charles Everest were both found guilty.
In 1907 the Vacuum Oil, Standard Oil, New York Central Railroad, and Pennsylvania Railroad were all indicted for violations in Inter-State Commerce laws. Vacuum Oil was charged for shipping 228 cars of petroleum and petroleum products to Standard Oil at unlawful rates via the New York Central RR and Pennsylvania RR.