A WOUND-UP CONCERN.

Auckland Star, Volume XLIV, Issue 182, 1 August 1913, Page 7

A WOUND-UP CONCERN.

JHKBCTORATE SD3aT k <r ™* _ * n GEBORXE, thie day. T&o directors and nwnagex-af tho New Zealind OUQoId, Limited, state that they arc completely surprised at <he tailed tcwa that Mr.-.Tnetico NerHle iaa ordered the compoleory rarinding up of the Cmrpany, *nd iorthre tb»t they know fit so litigation to an order. The company waa formed 01 April 7. 1910, for the purposn of dftTcloping oil in >Jev &3).tnd, and to actpirre 44 concreeione, cxieadinjj a totnl area of 147,000 acree, or abont 220 Fqnaie mik?, situated near the Gi* borne and East Coa?t districts. The capi* tal was £200,000, divided into 2,000X100 eharci of 2/ each, of which one mHlioa ■were issued. Borinf; operation*) i;--> neeced at (Ngat&pa), and after einkLnj; a well about fIOO feet deejv operations Trerc dJiKonttnaed, pendmg the arrival of a rotrry driEing plan!. On arrival of this machinery it was dicided to continue oim well at Waihirere, owing io transportation facilities to that •ite being bi> much BMiCT. The plant did good work, having roach'-d a dcptli of 1357 feet, with good oil and gae '"■fihowa." Owing however, to the ]3jv' Wfltlcil caeinj; liping , unniiitahlc for th« nattirfr of tlin country, it w decided t« clone down pending the of epeciaj rotary caainj; from America, .which ie OB order.