Interview with Stephen E. Van Nostrand, former executive at Caltex Petroleum Corporation. The interview includes Van Nostrand's personal experiences about service during World War II, employment with Caltex in China, the formation of Ryuku Oil Corporation, and holding various positions within Caltex. Van Nostrand talks about joint ventures with Nippon Oil Company and Koa Oil Company, increasing the refining capacity from 60,000 bbls. to 900,000 bbls. per day, crude oil contracts, the Nippon Petroleum Refining Company, refinery rehabilitation and construction, his role in Caltex operations in Japan, the Nippon Oil Staging Terminal Company, relations between Caltex (Japan) and New York headquarters, OPEC and its effects upon Caltex, character sketches of Neal Lilley, Alec Singleton, and James Voss, and various Japanese oil executives. The interview includes a personal history of S. Nomura.

Letter from Isaac H. Kempner to Daniel W. Kempner discussing rain in Sugar Land, bugs in the dehydrator, a decoration Daniel W. Kempner and Mrs. Dupont are receiving from the English Government, and the state of the cotton market.