AUSTRALIAN OIL BOOM.
HUGE COMPANY FLOATED
CAPITAL OF £2,600,000
According to advices received by the last Sydney mail a new. company, Australian Oil Industries. Limited, has beeri formed in Sydney with a nominal capital of £2,000,000 to exploit the oil business in the Commonwealth.
Since the Roma Held was reopened in 1920 there ha* been considerable interest in oil shares and a company known as Builders'. Limited, was formed, apparently with the intention of becoming a holding organisation for other companies to be formed subsequently. It is nowconsidered that there is a connection between the activities of Builders', Limited, and the registration of Australian Oil Industries, Limited. Builders' shares of £1, paid only to 2/6, could not be bought ten days ago at 27, 6 a shar;. Among the subscribers to Australian Oil Industries. Limited, are: Sir Graham Wadded, Sir Samuel Hordern. Sir Keith Smith and Sir William \ icars. The formation of this company, described as "the biggest oil move in Australian history,"' is said to have taken the local linancial world by surprise.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19280528.2.23.4
Bibliographic details
Auckland Star, Volume LIX, Issue 124, 28 May 1928, Page 4
Word Count
174
AUSTRALIAN OIL BOOM.
Auckland Star, Volume LIX, Issue 124, 28 May 1928, Page 4
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
This newspaper was digitised in partnership with Auckland Libraries.
Log in