TO-DAY'S TELEGRAMS.
Special to Standard,
Wellington, This Day
Mr Samuels, chairman of the Taranaki Oil Company, writes to the Times correcting a mis-statement as to the prospect of getting oil. He says the flow is at present, small, only 6'67 gallons at each test per diem, about 67 of which is oil, they hope when they can pump the water out" of the bore it will be found a large reservoir of oil has been tapped, and it will flow freely. The loss by fire is not so great as was expected. He concludes that the promoters had formed a company not for the purpose of making a profit or selling shares, but to get at the reservoir in question, whether oil was there in payable quantities or not. Those who are associated with me are anxious that none should be induced to embark in the venture with capital which they cannot afford to lose under the mistaken impression that success is certain instead of merely probable. The Masterton branch of the National Association thoroughly urge Mr W, H. Beetham to come forward as a candidate. The meeting adjourned for a week to allow Mr Beetham to coasider to request.
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Bibliographic details
Hastings Standard, Issue 111, 3 September 1896, Page 2
Word Count
200TO-DAY'S TELEGRAMS. Hastings Standard, Issue 111, 3 September 1896, Page 2
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