Tidewater Oil Company

Tidewater Oil Company (rendered as Tide Water Oil Company from 1887 to 1936) was a major vertically integrated oil company that operated independently from 1887 to 1926, when it was sold to a holding company. Over the decades, it passed through various corporate hands. It sold petroleum and gasoline products and fuel under various brand names, including Tydol, Flying A, and Veedol.

In 2011, Veedol was sold by British Petroleum to Tidewater India. Now it is part of Andrew Yule and Company's Indian group and manufactures automotive oil for the Indian market on the sub-continent of South Asia. Tidewater does not have its own refinery, so it is dependent on base oil suppliers like HPCL and BPCL. It also manufactures a wide range of automotive lubricants. Its corporate headquarters is in Los Angeles, California.

History

File:US-NJ(1891) p564 BAYONNE, THE TIDE-WATER OIL COMPANY.jpg

Tide Water plant in 1891

Tide-Water Pipe Company

In November 1878, the Tide-Water Pipe Company was founded by Byron D. Benson (ca. 1828-February 1888), Robert E. Hopkins, and David McKelvy (died May 10, 1918). Other sources include as founders Samuel Q. Brown (died October 5, 1909Template:Rp) and Alanson Ashford Sumner.

The capital at incorporation was $625,000 of which $500,000 was paid in as cash and $125,000 represented the rights-of-way for the Seaboard Pipe Line which were eventually not used. The Reading Railroad Company subscribed to $250,000 of the stock.Template:Rp

Benson, Hopkins, and McKelvy had forged a deal with Franklin Gowen, president of the Reading Railroad, to build a pipeline from the new Bradford oil field at Coryville, Pennsylvania, eastward to Williamsport, where the oil would be loaded into Reading tank cars for transport to independent refiners in Philadelphia and New York. Gowen agreed to put up $250,000, half the predicted cost of building the pipeline.

The result was the world's first long-distance oil pipeline: 102.87 miles. The line included 6-inch, 18.5 pounds per linear foot wrought iron pipe joints, ordered from the Reading Iron Company, which began shipments on January 30, 1879, and the National Tube Works, which followed on February 12. Railroads delivered construction materials to 10 shipping points along the route.Template:Efn Laying of the pipe began near Oleona on February 22 and the last joints were put in place on May 22. The line rose 1,200 feet to cross the Allegheny Mountains near Waterville, then descended by gravity 2,100 feet. The cost of laying the line was 15.449 cents per foot, including freight (5.227), hauling (6.4) and joining (3.822). Through May 28, 1880, a total of 1,097,761.06 barrels (3,008 per day) was moved, of which 943,483.02 were transported to eastern refineries.

The pipeline could move 6,000 barrels per day. Starting at Pumping Station No. 1 at Coryville, oil flowed 22.43 miles to No. 2 station at Olmsted near Coudersport, then 80.44 miles to Williamsport. The pumping engines at Coryville began operation at 4 p.m. on May 28; oil arrived at 10:18 a.m. on May 30 at No. 2 station, which began to pump the same day at 3:20 p.m. After a pressure drop was detected, a piece of wood and some rope were removed from the pipe. Olmsted resumed pumping at 5 p.m. on June 2. Oil arrived at the tank farm 1.5 miles east of Williamsport at 7:20 p.m. on June 4. From there the loading station of the railroad could be reached by 12,700 feet of 8-inch gravity-flow pipe. Template:Rp

In 1880, the Equitable Pipe Line was absorbed, the Coryville pumping station was moved a few miles to Rixford and the 4-inch pipe was replaced by 6-inch pipe. The line was extended from Williamsport to Tamanend in the winter of 1881-82 and new pumping stations were built at County Line (No. 3 halfway between Olmsted and Williamsport), Muncy (No. 4 just southeast of Williamsport) and Shumans (No. 5). From Tamanend the New Jersey Central Railroad provided a direct route to New York bypassing Philadelphia in rail shipments. In 1887 the line was extended from Tamanend to Bayonne and pumping stations built at Hudsondale, Pa. (No. 6) and Changewater, New Jersey (No. 7).Template:Rp

The company owned a refinery in Bayonne, New Jersey, next to the larger refinery of the Standard Oil Company. On July 20, 1887, a fire that destroyed the Standard Oil Co. refinery at Constable Hook, also destroyed facilities belonging to the Tide Water Pipe Co., the Polar Oil Co., and the Ocean Oil Co.

In 1908 and 1909, the line was extended westward 546 miles from Rixford to Stoy, Illinois. The joints, made of basic steel, were laid from August 1, 1908, to April 13, 1909. Telegraph poles were erected from August 3, 1908, to April 10, 1909. On May 11, 1909, testing of the line with water began. The first oil arrived at Rixford at 7:15 a.m. on July 7, 1909. Seven pumping stations were later added. Pipeline loops were later added to the eastern portion of the lineTemplate:Efn, which at the beginning of 1913 could move more than 10,000 barrels per day.Template:Rp

Tide Water Oil Company

The Tide Water Oil Company was incorporated in New Jersey on November 17, 1888.

In July 1916, 26,660 shares were offered to the public at $185 per share.

In June 1917, when the company was first listed on the New York Stock Exchange, its main pipeline had grown to include 833.69 miles of 6-inch trunk line from Stoy to Bayonne. Its pipeline system also included 304 miles of 6-inch trunk line loops; 2,000 miles of gathering lines; 20 pumping stations with redundant pump engines; and 92 tanks with a total capacity of 2,672,900 barrels. On one day that year, company pipelines held 1.6 million barrels of oil worth a total of $3,400,000.

The company held all or controlling interest in nine subsidiaries, including:

Subsidiaries (1917)

Name	Incorporated	Date	Auth. cap.	Par	Issued	Owned by TWO	%
The Tide Water Pipe Co. Ltd	PennsylvaniaTemplate:Efn	Nov 13, 1878	$6,250,000	$100	$6,250,000	$6,218,000	99.49
Associated Producers Co	Pennsylvania	Nov 5, 1884	$900,000	$100	$800,000	$797,000	99.69
Tidal Oil CoTemplate:Efn	OklahomaTemplate:Efn	Sep 27, 1907	$1,000,000	$100	$582,000	$495,000	85.05
Platt & Washburn Refining CoTemplate:Efn	New Jersey	May 11, 1885	$250,000	$100	$250,000	$250,000	100%
Tide Water Oil Co of MassachusettsTemplate:Efn	Massachusetts	Jan 2, 1908	$25,000	$100	$25,000	$25,000	100%
American Oil CoTemplate:Efn	Rhode Island	Feb 7, 1902	$100,000	$10	$50,000	$37,300	74.60
Allegheny Pipe Line Co	New York	Feb 28, 1903	$9,000	$5	$9,000	$5,350	59.44
East Jersey RR & Terminal Co	New Jersey	Mar 12, 1901	$300,000	$100	$257,000	$257,000	100%
Currier Lumber Corp	Virginia	June 5, 1908	$225,000	$100	$225,000	$225,000	100%

History of the Tide Water common stock (par $100)

Date	Auth. cap	Purpose
Nov 17, 1888	$5,000,000	Acquisition of Polar Oil Company, Ocean Oil Company, Chester Oil CompanyTemplate:Efn, Lombard, Ayers & Company and purchase of real estate in Bayonne
May 15, 1907	$20,000,000	acquisition by exchange for stock of the Tide Water Pipe Line Co; for some time this company was the parent company and owned the entire stock of Tide Water Oil Co. until in 1907 the subsidiary took over the parent in a reorganization.
May 6, 1908	$25,000,000	extension of the pipe line to Illinois and purchase of producing lands in Illinois Illinois oil production boomed in 1906. For a few years it was 3rd largest producing state behind California and Oklahoma.
Mar 15, 1916	$30,000,000	acquisition of oil producing lands in Oklahoma. Holders of stock were given the right to subscribe at par to 1 share for each 5 shares held from Apr 10 to Jul 6, 1916.
Feb 20, 1917	$40,000,000	in 1917 $2,900,000 issued for a stock dividendTemplate:Efn and $8.1m unissued. Pursuant to a board resolution of May 2, 1919, 11,870 shares were issued and exchanged for the entire remaining stock (870 shares) of the Tidal Oil Co. not already owned by TWO, whose total issue was then 330,870 shares. TWO stock was trading between $236 and $250 in June 1919: each par $100 share of Tidal Oil had a market value of $3,220 to $3,411.
Dec 15, 1919	$100,000,000	Dec 1919 $8,617,400 plant extensions, 1 tanker, 1 power barge, employee stock programTemplate:Efn Dec 1920, $9,931,500 (failed) Mexican operation, 4 tankers, plant extensionsTemplate:Efn

Annual reports

Year	Detail
fiscal year ending December 31
1915	L
1916	XL
1918	XL
1919	XL
1920	XL
1921	L
1922	M
1923	S

Timeline of common stock priceTemplate:EfnTemplate:Efn

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Volume
1917	High						196	202+1⁄2	206+1⁄2	204	Template:Efn	175	175	3,579
	Low						194+1⁄8	195	204+1⁄2	198		170	165
1918	High	178+1⁄2	185	190	200		186		180	182	190		200+1⁄4	1,342
	Low	178		185
1919	High	220	221	220	235	250	250	246	242	238+1⁄2	265	275		8,102
	Low	207	220	219+1⁄2	214	234+3⁄4	236	240			240	260
1920	High	205		229	215	205	200			210	215	200+1⁄2	199	3,019
	Low			209		190	199+3⁄4			205	210	200	180
1921	High	170	165+1⁄4		171+1⁄2	175	150	125		120	151+1⁄4	149	150	9,805
	Low	161			162	156				119	123	145	135
1922	High	134	133+1⁄2	131+1⁄2	133	137+1⁄4	133+3⁄4	126	129+1⁄8	148+3⁄4	154	135	129+7⁄8	52,030
	Low	130	127+1⁄2	109+3⁄4	118	133	127	120	123+1⁄2	127	131+3⁄4	125+1⁄4	115+1⁄4
1923	High	133	138+3⁄8	144	131+1⁄4	125	120	103+1⁄4	102	101+5⁄8	104	123+1⁄2	122+7⁄8	60,250
	Low	120	128	128	125	116	95	94	98	95+1⁄2	99	99+3⁄4	112+5⁄8
1924	High	142+7⁄8	151	141+7⁄8	134	128+1⁄2	124+7⁄8	126+3⁄4	127+7⁄8	125	123+7⁄8	132	133	91,600
	Low	120	134	129	120+1⁄2	125	119	118+1⁄4	119	120	116+1⁄4	121+1⁄4	123+1⁄2
1925	High	148+3⁄4	152	149+7⁄8	134+3⁄4	147	149	142+1⁄8						7,800
	Low	130	143	122	125+1⁄8	131+1⁄4	141	136
no par
1925	High							36+1⁄4	33+1⁄4	33+3⁄4	36	36+5⁄8	36+7⁄8	217,500
	Low							33	30+1⁄2	30+1⁄4	30+1⁄2	32	34
1926	High	39+1⁄4	38+3⁄4	38+3⁄4	32+7⁄8	35	34+3⁄8	33	31+1⁄2	31	29+7⁄8	28+3⁄4	29+1⁄8	486,300
	Low	34+1⁄4	35+1⁄2	32	30+1⁄4	31+1⁄8	32+1⁄2	31+1⁄8	30	29+1⁄2	27+1⁄4	27	27
1927	High	29+1⁄8	27+7⁄8	27+1⁄8	25+1⁄8	24+7⁄8	24	24	24+3⁄4	24	22+1⁄2	23	24	48,700
	Low	27+1⁄2	27	24+3⁄4	23+1⁄8	22+3⁄4	22+1⁄2	19	22	23	21+3⁄4	21+5⁄8	22
1928	High	22+1⁄4	20+1⁄2	23	27	27+1⁄8	25+1⁄4	24+1⁄8	27+3⁄8	30+5⁄8	36	38+3⁄4	41+1⁄2	214,400
	Low	20+5⁄8	19+7⁄8	19+5⁄8	22+1⁄2	24+1⁄4	22+1⁄4	23	24+3⁄8	25+3⁄4	29+1⁄4	33+3⁄8	33
1929	High	37+5⁄8	33+1⁄2	34+1⁄2	35+1⁄2	38	40	35+1⁄8	37	35	33+3⁄4	23+1⁄2	22+1⁄2	137,800
	Low	30+1⁄2	27+1⁄8	29	31+3⁄4	33+1⁄2	34+1⁄8	33+3⁄8	32+1⁄4	33	29+3⁄4	14	20
1930	High	21+7⁄8	21+3⁄4	26	31			25+1⁄2		21+1⁄4	15+1⁄2		13	8,200
	Low	19+1⁄2	20	19+1⁄2	28						15+1⁄8		12
1931	High	15	15+1⁄8	18	17+7⁄8				13			9+7⁄8		6,500
	Low	10+1⁄2	12+1⁄2	16+1⁄2	12
1932	High			9		7+1⁄8	6	7+1⁄2	10		10	9+3⁄4	9+1⁄2	4,900
	Low			7		5+1⁄8	5	6			9
1933	High				9+1⁄4	15+1⁄2	16		18	20	20	24+1⁄8	26	2,200
	Low					11+1⁄2				19		21
1934	High			31	40	37	38	31		31		25+1⁄8	25	1,170
	Low				36		31			30			24
1935	High	27+1⁄2	27+1⁄2	27+1⁄4	28+3⁄4	32+1⁄2	40	41	42+1⁄4	43+1⁄2	40	43+1⁄2	48	5,770
	Low			26+3⁄4	28+1⁄2	28+3⁄4	37	35	37+1⁄2	39			40
1936	High	58	59+1⁄2	60	58+3⁄4	55	55	55	54+7⁄8	54+3⁄8	50			990
	Low	52	58		58+1⁄2			51		50	48

Par $100 preferred price range

		Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Volume
1925	High								100	100	101	101	100+1⁄4
	Low										100	99	99
1926	High	103	102+5⁄8	102+1⁄8	94	94	94+1⁄2	93	93	92+5⁄8	90+3⁄8	90+1⁄4	90
	Low	99	97	90	91+1⁄2	92+1⁄4	93+1⁄4	91+3⁄4	91	90+1⁄2	88+1⁄2	87+1⁄4	88+1⁄4
1927	High	89+1⁄2	88+3⁄4	88+1⁄2	89+3⁄4	88+1⁄4	88+1⁄8	87	88	90+1⁄8	89+1⁄4	87+3⁄8	88
	Low	88+1⁄2	87+1⁄2	87+1⁄2	87+1⁄2	87	87+1⁄2	86+1⁄2	86+1⁄2	88+1⁄2	86+1⁄2	85	85+3⁄4
1928	High	90+3⁄4	90+1⁄2	89	93+1⁄4	94+1⁄2	92+1⁄4	89	89	91	95+1⁄4	96+1⁄4	100+1⁄8	39,900
	Low	87	88+1⁄2	88	88+3⁄4	92	88	86+3⁄4	86+3⁄4	87+1⁄2	91+1⁄2	94+3⁄4	96
1929	High	97+1⁄2	94	92+1⁄2	95	95+3⁄4	97+1⁄2	93	93	95+7⁄8	93	90	89	42,500
	Low	94+1⁄4	90+1⁄8	90+1⁄4	93+1⁄2	92+1⁄2	92+3⁄8	90	90+3⁄4	90+7⁄8	88+3⁄8	85+1⁄8	87+1⁄2
1930	High	90	88	91+3⁄4	94+7⁄8	94+1⁄4	93+1⁄2	86+7⁄8	92+1⁄2	91	86	85+1⁄2	82	23,100
	Low	86+7⁄8	86+1⁄8	86+1⁄4	90+1⁄8	90+7⁄8	85+1⁄2	83	90	87	85	82	68
1931	High	78+1⁄2	83	83	70	55	59	55	67+1⁄2	60	40	45	43	17,700
	Low	69+1⁄4	80	70+1⁄4	66+3⁄4		54	50+3⁄4	51	48+3⁄4	35	38	30
1932	High	35+1⁄8	34	41	35+3⁄4	40	35	44+1⁄2	60	62	50	50	48	10,760
	Low	31+3⁄8	30	35	30	30	31	37	50	51	46+1⁄2	49	45
1933	High	49	50	50	60	60	67	68	65+1⁄2	72+1⁄2	75	77	80	13,700
	Low	46+1⁄4	45	47	48	55	64+3⁄4	62	63	67	73	74	76
1934	High	82	85	88	96+1⁄2	96+1⁄2	95+7⁄8	94+1⁄2	95	96+1⁄2	97	97+3⁄4	100+1⁄2	24,000
	Low	80	82	84+1⁄8	88	88	92	93	92+1⁄2	93+1⁄2	94	95	97+5⁄8
1935	High	103+1⁄8	102+1⁄2	104+1⁄8	105+1⁄4	105+3⁄4	106+3⁄8	106+1⁄4	106+1⁄8					34,800
	Low	100+5⁄8	100	101+1⁄2	103	104+1⁄2	105	106+1⁄8

Outstanding shares

Date	Common	Preferred
1914	240,000	n/a
1915
May 1923	496,735
Dec 31, 1924	500,045
Jun 30, 1925	504,429
Nov 1925	2,017,741	250,598
Nov 1926	2,138,373	207,061
May 1927	2,158,047	207,052
Nov 1927	2,168,285	207,052
Sep 1931	2,191,821	199,446
Jun 30, 1934	2,191,823	196,246
Jun 30, 1935	2,191,860	190,763

Tide Water Oil dividends ($/share)Template:Efn

	Common		Preferred
	Regular	Extra
1914	8	0	n/a
1915	8
1916	8	1
1917	8	12 + 0.1 share
1918	8	11
1919	8	8
1920	12	4
1921	10	0
1922	0
1923	1
1924	4
1925	2
	no par
1925	0.5
1926	1.5
1927	0.975
1928	0.8
1929	0.8
1930	0.8
1931	0.35
1932	1
1933	1
1934	1.25

Crude runs to Bayonne refinery

Year	Total	Total / day	Pennsylvania	Illinois	Oklahoma	Texas	Mexico	California	Misc
1915	3,653,398	10,009	1,297,285	1,658,823	697,288
1917	3,997,000	10,951	1,261,000	1,281,000	1,455,000
1918	4,606,000	12,619	1,301,000	1,588,000	1,691,000		26,000
1919	5,544,674	15,191	1,294,660	893,964	1,613,086	181,691	1,561,273
1920	6,576,786	18,019	1,607,376	1,215,243	2,134,879	209,905	1,407,860		1,523
1921	5,650,862	15,482	1,115,183	569,364	1,409,533	111,317	2,412,033		33,432
1922	?	23,358	?				60%		?

In May 1925, the common stock was split 4-for-1. Authorized capital was increased from 1,000,000 to 4,000,000 shares and each outstanding $100 par share was exchanged for 4 new shares of no par value.

In August 1925, the company issued $25,221,500 of 5% cumulative (par $100) convertibleTemplate:Efn preferred stock to provide working capital, finance infrastructure, and retire its entire funded debt of $12,000,000.Template:Efn The preferred was called on August 15, 1935 at $105 and the final $1.25 quarterly dividend, using ca. $1,800,000 from the cash reserve and a $19,000,000 3.23% 5-year bank loan dated Aug 15, 1935.Template:Efn Apparently Template:Sfrac or 195,765 shares were called and some 56,450 were converted, but a few seem to also have been bought on the market just prior to the call.

Securities owned by Tide Water Oil

Owned company	Date	Authorized	Issued	owned by TWO	% TWO	Notes
Darby Petroleum Corp	1929				31.06%	exchanged for TWO's 51% in Tidal Osage Oil Co in order to avoid internal competition with Tidal Oil Co (100% owned) active in the same area However on May 14, 1929 631,319 Tidal Osage Oil shares were exchanged for a like number of Darby shares and Tidal Osage was merged into Darby (which now had 1,019,392 shares outstanding).
	May 1930	1,250,000	1,019,392		ca. 1⁄3	1-for-2 reverse split
		750,000	509,696

Tide Water Oil acquisitions of distribution assets

Date	Company	Area Served	Bulk plants	Service stations	Dealer outlets/accounts	Notes
May 1930	Pioneer Distribution Co	Hazleton, Pennsylvania	6	22	180
Jul 1930	Pittsford Oil Co	Pittsford, New York	1	3	225
Aug 1930	Demmy Oil Co	Scranton, Pennsylvania	2	6	125
Aug 1, 1930	Little & Coffin Oil Co	Portland, Maine	12	21	600

Tide Water Associated Oil Company

In 1926, control of Tide Water Oil was sold to a new holding company, Tide Water Associated Oil Company, which also acquired a controlling interest in California's Associated Oil Company. Soon thereafter, Standard Oil Company of New Jersey took control of the company. Flying A became the primary brand name for the company, though the Tydol and Associated names were also retained in their respective marketing areas.

The Tide Water Associated Oil Company (incorporated in Delaware on March 6, 1926) offered for each share of Associated Oil stock (of which 2,290,412 shares were outstanding) 1 share of no-par common and 1⁄3 share of 6% par $100 cumulative preferred. An alternative offer by a syndicate formed by Blair & Co. and Chase Securities Corp. offered $58.50 per share of Associated Oil Company. For each share of no-par stock of Tide Water Oil, 1+1⁄3 share of TWAO was offered. The preferred stock of Tide Water Oil remained unchanged. The Blair/Chase syndicate concurrently offered a block of the 6% convertible preferred of TWAO ("the new $240,000,000 dollar company") to the public. The Justice Department concluded an anti-trust investigation on April 22, 1926, declaring the consolidation legal.

Development of properties of Associated Oil Co

Expenditure of $60,000,000	1920	1925	Increase
Lands owned and leased	75,749 acres	173,210	129%
Crude production (gross)	9,027,724 (24,733bpd)	18,211,030 (49,893bpd)	101%
Pipe Line capacity	37,000bpd	165,000bpd	346%
Refinery capacity	24,000bpd	75,000bpd	212%
Marketing stations	130	315	142%
Tanker fleet	203,209bbl	656,955bbl	223%
Storage capacity	12,671,300	24,294,300	91%
...of Tide Water Oil Co
Expenditure of $45,400,000	1920	1925
Crude production (net)	4,571,674 (12,525bpd)	5,576,858 (15,279bpd)	22%
Number of wells	4,776	6,734	41%
Refinery capacity	25,000bpd	53,000bpd	112%
Storage capacity	4,480,000	7,336,200	63%
Tanker fleet	none	319,000bbl
Tank cars	959	1,453	51%
Refined products	5,240,540 (14,358bpd)	11,337,308 (31,061bpd)	116%

Progress of accumulation of subsidiary shares and TWAO shares offered for each subsidiary share during exchange campaigns

From	%	Until	%	Sub	Offer
Mar 1926	75			TWO	(data point)
	80			AO
Dec 31, 1928	78.76	Dec 31, 1929	97.5%	TWO	(summary)
	95.13		97.24	AO
Jun 10, 1929		Jul 10, 1929		TWO	1+3⁄4
Dec 19, 1929	95.42	Feb 15, 1930		TWO	1+3⁄4
	95.33			AO	3

On May 31, 1930, Tide Water Oil sold the subsidiary Tide Water Oil Export Corp to the Pan American Petroleum and Transport Company, a subsidiary of Standard Oil Company of Indiana.

Getty representative H. Paul Grimm (president of Pacific Western Oil Corporation) was elected director on May 3, 1934, succeeding Henry S. Sturgis.

After a board resolution on Sep 17, 1936, TWAO bought the stock of the Terrabella Investment Co (California)Template:Efn for 230,000 new TWAO shares, which brought the total common stock registered with the NYSE to 8,751,985 shares.

In August 1936 TWO (New Jersey) spun off all operations into the new wholly owned subsidiary TWO (Delaware) and on November 30, 1936, Tide Water Oil and Associated Oil were merged into the Tide Water Associated Oil Company, which then held 99.13% of TWO and 98.21% of AO stock. The no-par common stock was exchanged for $10 par common to reduce tax payments. Each residual TWO share not already in the TWAO treasury received 3 shares of TWAO stock; each AO share received 2+1⁄4, causing the issue of 149,698 new TWAO shares. The merger was likely among the many executed in response to the Revenue Act of 1936.

Tidewater Oil Company operated a fleet of oil tankers. During World War II, it chartered ships to the Maritime Commission and War Shipping Administration and operated T2 tankers to support the war effort. Ships included: USS Guyandot (AOG-16), SS Byron D. Benson, SS Samuel Q. Brown, Falls of Clyde, and others.

File:Fitzpatrick's Inc., De Soto -- Plymouth. Factory Street, Ansonia, Conn. Phone 4-3118. We make service a science (85017).jpg

Automobile dealership featuring Tydol gasoline pumps, c. Template:Trim

During the 1950s, the Associated and Tydol brands gradually fell into disuse, and were dropped entirely in 1956.

Mission Corp

Mission Corp was incorporated at the end of 1934 as a holding company as a means of Standard Oil of New Jersey to distribute its holding of TWAO stock. It had an authorized capital of 1,500,000 shares of which 1,050,000 were initially issued and on March 15, 1935 a stock dividend of 1⁄25 shares of Mission Corp was paid per share to holders of par $25 Jersey common stock. Mission Corp owned only a small amount of working cash and 1,128,123 shares of TWAO common stock. Directors were: Edward Shea, Robert McKelvy (both of TWAO) and Herbert Rawl, Lyman Rhoades and John P. Davis.

Tidewater Oil Company

On May 4, 1956, the name of the company was changed to Tidewater Oil Company; distribution continued under the Flying A and Veedol brand names.

In 1966, Phillips Petroleum Company (now ConocoPhillips) purchased Tidewater's western refining, distribution and retailing network. Phillips immediately rebranded all Flying A stations in the region to Phillips 66. On the East Coast that year, American-born British petrol-industrialist J. Paul Getty merged his oil interests into Getty Oil Company, and Tidewater Oil was dropped as a corporate brand. The Flying A brand continued to be used on the East Coast until 1970, when stations and products were renamed Getty.

In 2000, BP acquired the Veedol brand when it bought Burmah-Castrol. In February 2011, BP offered to sell the Veedol brand, which was purchased that October by Tide Water India, part of the Andrew Yule and Company Indian subsidiary.

Fortune 500 rankings

Year	Revenue		Profits		Assets
	$millions	Rank	$millions	Rank	$millions	Rank
1955	459.0	63	34.5	48	395.9	60
1956	478.8	76	37.8	59	485.4	56
1957	522.6	75	38.0	66	679.6	38
1958	596.3	65	34.9	75	797.4	32
1959	552.9	62	2.6	403	810.7	35
1960
1961	583.1	73	35.1	71	897.8	37
1962
1963
1964
1965	675.0	88	48.7	69	1,005.7	43
1966	706.3	98	57.2	70	995.5	50

Tanker fleet

Tankers built for Tide Water Oil

Name	Type	Keel laid	Launched	Builder	Delivered	Notes
Coastal
Veedol	1,800dwt 10kn		Aug 18, 1920	Staten Island SB Co.
Tydol	252ft 10kn 1,885ton 2screw motor tank barge	Jan 3, 1927	Apr 14, 1927	Sun Shipbuilding	May 7, 1927
Tidewater Tydol No. 21930	225ft 10.5kn 2,300dwt	Jan 12, 1929	Apr 23, 1929	Pusey & Jones	Jul 1, 1929
Tidemotor	188ft 6,000bbl tank barge	May 20, 1929	Aug 6, 1929	Sun Shipbuilding	Aug 17, 1929
Veedol No. 2	255ft 1,818grt 8kn	Oct 19, 1929	Mar 4, 1930	Pusey & Jones	May 15, 1930
Oceangoing
David McKelvy	430ft 10.5kn 10,600dwt	Feb 23, 1921	Jun 4, 1921	Sun Shipbuilding	Jun 30, 1921
Robert E. Hopkins	424ft 10.5kn 10,000dwt	Aug 30, 1920	Aug 6, 1921	Merchant Shipbuilding Corporation (Chester)	Oct 6, 1921	2 of 4 sister ships: Playa, Puente, Hopkins, Brown
		Oct 1, 1920	Oct 15, 1921		Nov 5, 1921
	466ft 10.5kn 11,900dwt	Jun 29, 1920	Sep 15, 1921	Oscar Daniels (Tampa, FL)		built for Standard Oil
Axtell J. Byles	480ft 13.5kn 13,000dwt	Mar 1, 1927	Jun 11, 1927	Sun Shipbuilding
Tidewater	13,450dwt	Jan 29, 1930	Aug 9, 1930	Sun Shipbuilding	Aug 16, 1930	2 of 2 sister ships
Tidewater Associated		Feb 12, 1930	Sep 6, 1930
Flying-A-New York	200,000bbl		Feb 1954	Newport News Shipbuilding
Flying-A-Delaware		Dec 7, 1953	May 3, 1954

Ships acquired from other companies

Name	Type	Keel laid	Launched	Builder	Acquired as	Acquired from	Acquired when	Notes
William F. Humphrey		Aug 27, 1920	May 24, 1921	Fore River	Agwibay	Agwi	1927	briefly named Axtell J Byles in 1927
Edward L. Shea	419ft 9,870dwt 10.75kn 74,187bbl	Feb 28, 1923	Mar 20, 1924	New York Shipbuilding	Priscilla	American Brown Boveri Electric Corp	Nov 1926
Byron D. Benson	T2				Glorieta	United States Maritime Commission
David McKelvy					Groveton
Samuel Q. Brown					Chesapeake Capes		1947
William F. Humphrey					Black Jack
Robert E. Hopkins					Camp Charlotte		1947
Frank Haskell					Rich Mountain		1947

At the end of 1947 the company owned 15 ships (207.500 tons). These were in the Eastern Division:

• the 6 T-2 tankers
• Axtell J. Byles
• Edward L. Shea
• Mericos H. Whittier

and in the Western Division:

• Associated
• Frank G. Drum
• Solana
• Paul Shoup
• Tide Water
• Tide Water Associated

Trade routes

Veracruz - New York

Veracruz - the state, not the city.

All 4 tankers completed in 1921 had their commercial maiden voyage on the route and it was the only active trade route of the company until the fall of 1922. The round trip time was between 2 and 3 weeks, all 4 tankers had a speed of 10.5 knots. The distance is 2,029 nautical miles. Mexico was the second largest oil producer behind the United States from 1918 until 1926 and TWO was naturally not the only company to bring oil from Mexico to New York City, nor should it be assumed that all shipments on behalf of TWO were exclusively with their own tankers. Two deliveries to Boston are included in the summary, because the data is not totally consistent anyway.

Fleet activity: Mexico to New York (summary)

	Departures	Barrels
1921
Sep	1	68,550
Oct	3	207,192
Nov	5	344,899
Dec	5	352,833
1922
Jan	4	280,373
Feb	7	483,142
Mar	5	363,645
Apr	6	445,668
May	7	516,465
Jun	7	506,244
Jul	5	356,204
Aug	4	286,323

Fleet activity: Mexico to New York

Ship	Departure	From	From company	Barrels	Notes
1921
McKelvy	Sep 14	Port Lobos	Tide Mex Oil Co	68,550
McKelvy	Oct 3	Lobos	Tide-Mex	70,492
Hopkins	Oct 16	Lobos	Island Oil & Transport	66,915
McKelvy	Oct 21		International Petr. Co.	39,486
			Tide Mex	30,299
Hopkins	Nov 2	Lobos	Tide Mex	68,296
McKelvy	Nov 10		Island Oil & Transport	31,606
	Nov 11		Cortez Oil Corp	38,818
Brown	Nov 12		Tide Mex	68,920
Hopkins	Nov 21	Tuxpan	Penn-Mex Fuel Co	69,722
Brown	Nov 30	Lobos	Tide Mex	67,537
McKelvy	Dec 2	Tuxpan	Penn-Mex	71,920	Template:Efn
Hopkins	Dec 11	Lobos	Tide Mex	69,972
Brown	Dec 20		Island Oil & Transport	68,435
McKelvy	Dec 28		Tide Mex	73,514
Hopkins	Dec 29			68,992
1922
Brown	Jan 9	Lobos	Transcontinental	69,203
McKelvy	Jan 15			72,110
Hopkins	Jan 16			68,992
Brown	Jan 29		Agwi	70,068
Benson	Feb 1			81,058
McKelvy	Feb 2			72,699
Hopkins	Feb 7			69,397
Brown	Feb 17			38,234
McKelvy	Feb 22			71,282
Benson	Feb 23			80,449
Hopkins	Feb 26			70,023
Brown	Mar 6	Lobos	Tide Mex	70,073
McKelvy	Mar 14			73,060
Benson	Mar 15			81,031
Hopkins	Mar 16			69,626
Brown	Mar 25			69,855
McKelvy	Apr 2	Lobos	Tide Mex	73,129
Benson	Apr 3			80,824
Hopkins	Apr 4			68,073
Brown	Apr 12			70,414
Benson	Apr 21			80,840
McKelvy	Apr 24			72,388
Brown	May 3	Lobos	Tide Mex	70,032	Template:Efn
Hopkins	May 5			69,646
Benson	May 10			80,814
McKelvy	May 14			70,886
Brown	May 21			69,874
Hopkins	May 22			69,638
Benson	May 30		Cortez Oil	85,575
McKelvy	Jun 3	Lobos	Tide Mex	74,131
Brown	Jun 6			70,043
Hopkins	Jun 7			69,306
Benson	Jun 18			80,778
McKelvy	Jun 20		Cortez Oil Corp	72,784
Brown	Jun 23		Tide Mex	69,651
Hopkins	Jun 23			69,551
Benson	Jul 4			81,531
McKelvy	Jul 9			72,892
Brown	Jul 9			69,856
Hopkins	Jul 13			65,407
Brown	Jul 27			66,518
Hopkins	Aug 10	Tampico	Continental Mexican Petr	67,461
McKelvy	Aug 12	Lobos	International Petr. Co	72,259
Benson	Aug 20			80,681
Brown	Aug 28	Tampico	Freeport & Mexican Fuel Oil	65,922

California - New York

Round trip time was 5 to 6 weeks. The tankers brought only ballast water to Los Angeles.

Fleet activity: California to New York

Ship	Departure	Barrels	Notes	Panama Canal
				A->P	P->A	Tons
1922
McKelvy	Nov	80,000		Nov 6	Nov 29	10,780
Benson		80,000		Oct 30	Nov 24	12,000
Brown		75,000		Nov 8	Dec 3	10,000
Hopkins				Nov 18	Dec 12	10,205
McKelvy	Dec/Jan	80,000		Dec 17	Jan 9	7,500
Benson		80,000		Dec 13	Jan 8	11,430
Brown				Dec 21	Jan 14	10,000

See also

• Bayonne refinery strikes of 1915–1916

External links

• Veedol Corporation Limited [formerly Tide Water Oil Co. (India) Ltd.]
• 1938 aerial photo of Tydol facility in West Philadelphia
• Portraits of the founders of Tide-Water Pipe Co.
• Maps: 1879Template:Rp 1882Template:Rp 1884Template:Rp 1887Template:Rp 1900Template:Rp 1929
• Sanborn maps of facilities in Hudson County, New Jersey:
  • 1898: index, Plate 21, Plate 35, Plate 36
  • 1912: index, Plate 63
  • 1950: index, Plate 117