THE TARANAKI OR BOBE. NEW PLYMOUTH, May 8.
Oil burst out of the bore again last night owing, to the increasing pressure. It is ,now under control. The share market is " hardening again, £50 being offered in vain. Holders are confident of a huge success. Preference shares of £1 each, recently offered to shareholders at £1 premium, will be withdrawn, and reoffered at probably £5 premium.
May 10. „ There is still a brisk inquiry from outside for the petroleum shares. One hun--dred' were wanted this morning at £58. Many applications are being received to reserve shares in the new company. There is nothing "fresh to report from the bore, which is closed down.
GISBORNE, May 12. As showing how the success of tlie oil-bor-ing operations at Taranaki is likely to lead to further developments, a gentleman, initruoted by outside capitalists, arrived in Grisborne this, morning to investigate indijafions which exist in several parts of this district, and should these be considered favourable he is to secure prospecting rights.
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Otago Witness, Issue 2722, 16 May 1906, Page 30
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168THE TARANAKI OR BOBE. NEW PLYMOUTH, May 8. Otago Witness, Issue 2722, 16 May 1906, Page 30
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