CHEVRON CORP
8-K, 1999-10-08
PETROLEUM REFINING
Previous: SOUTHWEST GAS CORP, 8-K, 1999-10-08
Next: STATE STREET BANK & TRUST CO, SC 13G, 1999-10-08



================================================================================
                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form 8-K

                                 Current Report

     Pursuant to Section 13 of 15(d) of the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): October 8, 1999


                               Chevron Corporation
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)

        Delaware                      1-368-2                 94-0890210
 ---------------------------   ----------------------     -------------------
(State or other jurisdiction  (Commission File Number)   (I.R.S. Employer No.)
        of incorporation )

       575 Market Street, San Francisco, CA                    94105
      --------------------------------------                  --------
     (Address of principal executive offices)                (Zip Code)

       Registrant's telephone number, including area code: (415) 894-7700


                                      NONE
           -----------------------------------------------------------
          (Former name or former address, if changed since last report)

Item 7. Financial Statements and Exhibits.

         (c)   Exhibits.

         The following exhibit replaces information set forth under Exhibit 25.1
         in  Chevron  Corporation's  Registration  Statement  on Form  S-3  (No.
         33-58463).

         25.1  Form T-1 - Statement of Eligibility  under The Trust  Indenture
               Act of 1939 of The Chase Manhattan Bank (formerly Chemical Bank).

================================================================================

<PAGE>


                                    SIGNATURE

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


Dated: October 8, 1999

                                               CHEVRON CORPORATION


                                               By   /s/ S.J. CROWE
                                                 -------------------------
                                                  S. J. Crowe, Comptroller
                                                 (Principal accounting Officer
                                                  and Duly Authorized Officer)



                                                                   Exhibit 25.1
- --------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549
                           -------------------------
                                    FORM T-1

                            STATEMENT OF ELIGIBILITY
                    UNDER THE TRUST INDENTURE ACT OF 1939 OF
                   A CORPORATION DESIGNATED TO ACT AS TRUSTEE
                  -------------------------------------------
               CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
                A TRUSTEE PURSUANT TO SECTION 305(b)(2) ________
                   ----------------------------------------

                            THE CHASE MANHATTAN BANK
               (Exact name of trustee as specified in its charter)


      New York                                           13-4994650
(State of incorporation                                (I.R.S. employer
if not a national bank)                                identification No.)

270 Park Avenue
New York, New York                                          10017
(Address of principal executive offices)                  (Zip Code)

                               William H. McDavid
                                 General Counsel
                                 270 Park Avenue
                            New York, New York 10017
                               Tel: (212) 270-2611
            (Name, address and telephone number of agent for service)
                  --------------------------------------------
                               Chevron Corporation
               (Exact name of obligor as specified in its charter)

        Delaware                                         94-0890210
(State or other jurisdiction of                       (I.R.S. employer
incorporation or organization)                        identification No.)

       575 Market Street
    San Francisco, California                             94105-2856
(Address of principal executive offices)                  (Zip Code)

                                 Debt Securities
                       (Title of the indenture securities)


- --------------------------------------------------------------------------------
<PAGE>

                                     GENERAL

Item 1.  General Information.

         Furnish the following information as to the trustee:

         (a)Name and address of each  examining  or  supervising  authority  to
            which it is subject.

            New York State Banking Department, State House,
            Albany, New York  12110.

            Board of Governors of the Federal Reserve System,
            Washington, D.C., 20551

            Federal Reserve Bank of New York, District No. 2, 33 Liberty Street,
            New York, N.Y.

            Federal Deposit Insurance Corporation, Washington, D.C., 20429.


         (b)Whether it is authorized to exercise corporate trust powers.

              Yes.


Item 2.  Affiliations with the Obligor.

         If the  obligor is an  affiliate  of the  trustee,  describe  each such
         affiliation.

         None.

                                      - 2 -


<PAGE>


 Item 16.     List of Exhibits

           List  below  all  exhibits  filed  as a part  of  this  Statement  of
Eligibility.

          1. A copy of the  Articles  of  Association  of the Trustee as now in
effect, including the Organization Certificate and the Certificates of Amendment
dated February 17, 1969, August 31, 1977, December 31, 1980,  September 9, 1982,
February 28, 1985, December 2, 1991 and July 10, 1996 (see Exhibit 1 to Form T-1
filed  in  connection  with  Registration  Statement  No.  333-06249,  which  is
incorporated by reference).

          2. A copy of the  Certificate of Authority of the Trustee to Commence
Business  (see  Exhibit  2 to Form T-1  filed in  connection  with  Registration
Statement No. 33-50010, which is incorporated by reference. On July 14, 1996, in
connection  with the  merger  of  Chemical  Bank and The  Chase  Manhattan  Bank
(National  Association),  Chemical Bank, the surviving corporation,  was renamed
The Chase Manhattan Bank).

          3. None,  authorization  to  exercise  corporate  trust  powers  being
contained in the documents identified above as Exhibits 1 and 2.

          4. A copy of the  existing  By-Laws of the Trustee  (see Exhibit 4 to
Form T-1 filed in connection with Registration Statement No. 333-76439, which is
incorporated by reference).

          5. Not applicable.

          6. The consent of the Trustee  required by Section  321(b) of the Act
(see Exhibit 6 to Form T-1 filed in connection with  Registration  Statement No.
33-50010,  which is incorporated  by reference.  On July 14, 1996, in connection
with  the  merger  of  Chemical  Bank and The  Chase  Manhattan  Bank  (National
Association),  Chemical Bank, the surviving  corporation,  was renamed The Chase
Manhattan Bank).

          7. A copy of the latest report of condition of the Trustee, published
pursuant to law or the requirements of its supervising or examining authority.

          8. Not applicable.

          9. Not applicable.

                                    SIGNATURE

         Pursuant to the  requirements  of the Trust  Indenture  Act of 1939 the
Trustee,  The Chase Manhattan  Bank, a corporation  organized and existing under
the laws of the State of New York, has duly caused this statement of eligibility
to be signed on its behalf by the undersigned, thereunto duly authorized, all in
the City of New York and State of New York, on the 4th day of October, 1999.

                                           THE CHASE MANHATTAN BANK

                                           By  /s/ Ronald J. Halleran
                                              ----------------------------
                                               Ronald J. Halleran
                                               Assistant Vice President

                                      - 3 -



<PAGE>



                              Exhibit 7 to Form T-1

                                Bank Call Notice

                             RESERVE DISTRICT NO. 2
                       CONSOLIDATED REPORT OF CONDITION OF

                            The Chase Manhattan Bank
                  of 270 Park Avenue, New York, New York 10017
                     and Foreign and Domestic Subsidiaries,
                     a member of the Federal Reserve System,

                          at the close of business June
                    30, 1999, in accordance with a call made
                       by the Federal Reserve Bank of this
                     District pursuant to the provisions of
                            the Federal Reserve Act.


                                                           Dollar Amounts
                                                           in Millions

                           ASSETS

Cash and balances due from depository institutions:
     Noninterest-bearing balances and
     currency and coin .....................................    $  13,119
     Interest-bearing balances .............................        6,761
Securities:  ...............................................
Held to maturity securities.................................          892
Available for sale securities...............................       42,965
Federal funds sold and securities purchased under
     agreements to resell ..................................       32,277
Loans and lease financing receivables:
     Loans and leases, net of unearned income       $130,602
     Less: Allowance for loan and lease losses         2,551
     Less: Allocated transfer risk reserve .........       0
                                                    --------
     Loans and leases, net of unearned income,
     allowance, and reserve ................................      128,051
Trading Assets .............................................       41,426
Premises and fixed assets (including capitalized
     leases)................................................        3,190
Other real estate owned ....................................           28
Investments in unconsolidated subsidiaries and
     associated companies...................................          182
Customers' liability to this bank on acceptances
     outstanding ...........................................          901
Intangible assets ..........................................        2,010
Other assets ...............................................       14,567
                                                               ----------
TOTAL ASSETS ...............................................     $286,369
                                                               ==========

                                      - 4 -



<PAGE>


                                   LIABILITIES

Deposits
     In domestic offices ...................................     $101,979
     Noninterest-bearing .........................   $42,241
     Interest-bearing ............................    59,738
                                                     -------
     In foreign offices, Edge and Agreement
     subsidiaries and IBF's ................................       76,395
     Noninterest-bearing .........................   $ 4,645
     Interest-bearing ............................    71,750
                                                     -------
Federal funds purchased and securities sold under agree-
ments to repurchase ........................................       36,604
Demand notes issued to the U.S. Treasury ...................        1,001
Trading liabilities ........................................       30,287

Otherborrowed  money  (includes  mortgage  indebtedness  and
  obligations  under capitalized leases):
     With a remaining maturity of one year or less .........        3,606
     With a remaining maturity of more than one year
            through three years.............................           14
     With a remaining maturity of more than three years.....           91
Bank's liability on acceptances executed and outstanding              901
Subordinated notes and debentures ..........................        5,427
Other liabilities ..........................................       11,247

TOTAL LIABILITIES ..........................................      267,552
                                                                 --------

                           EQUITY CAPITAL

Perpetual preferred stock and related surplus...............            0
Common stock ...............................................        1,211
Surplus  (exclude all surplus related to preferred stock)...       11,016
Undivided profits and capital reserves .....................        7,317
Net unrealized holding gains (losses)
 on available-for-sale securities ..........................         (743)
Accumulated net gains (losses) on cash flow hedges..........            0
Cumulative foreign currency translation adjustments ........           16
                                                                 --------
TOTAL EQUITY CAPITAL .......................................       18,817
                                                                 --------
TOTAL LIABILITIES AND EQUITY CAPITAL .......................     $286,369
                                                                 ========

I, Joseph L. Sclafani,  E.V.P. & Controller of the  above-named  bank, do hereby
declare that this Report of Condition has been prepared in conformance  with the
instructions issued by the appropriate Federal regulatory  authority and is true
to the best of my knowledge and belief.

                                    JOSEPH L. SCLAFANI

We, the  undersigned  directors,  attest to the  correctness  of this  Report of
Condition  and declare  that it has been  examined by us, and to the best of our
knowledge  and belief has been  prepared in  conformance  with the  instructions
issued by the appropriate Federal regulatory authority and is true and correct.

                                    WALTER V. SHIPLEY       )
                                    WILLIAM B. HARRISON, JR )  DIRECTORS
                                    FRANK A. BENNACK, JR.   )

                                      -5-



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission