TARANAKI PETROLEUM COMPANY.
WHOLE CAPITAL UKDEEWRITTEN. (By Telegraph.—Press Association.) NEW PLYMOUTH, this day. A further cable received from Mr Carter (Chairman of the Taranaki Petroleum Company in London) indicates that the capital of the new Company is underwritten to a sufficient extent to provide the whole of the purchase money, as well as a large proportion of the proposed working capital, the whole of which, however, will be full, guaranteed before flotation. The price obtained for the oil in stock is fourpence per gallon, or about £3500. We are informed that a paragraph published yesterday to the effect that according to a cablegram received from Mr. Henry, the proposed working capital of the new company formed to develop the property of the Taranaki Petroleum Company was £200.000 (instead of £100,000), is misleading. The capital of the new company will be £400,000, and the working capital £200,000.
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Auckland Star, Volume XLII, Issue 209, 2 September 1911, Page 8
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146TARANAKI PETROLEUM COMPANY. Auckland Star, Volume XLII, Issue 209, 2 September 1911, Page 8
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