ANGLO-IRANIAN OIL
REASON FOR ACTION TAKEN MR NEATE’S EXPLANATION The action of the Labour Government in taking shares in the AngloIranian Oil Company was endorsed by the Labour candidate for Hauraki. Mr J. W. Neate, at a public meeting in Paeroa on Monday night. Mr Neate explained that it was a British controlled company which had guaranteed the supply of oil to the British Navy during the Second World War. Acting on advice from the British government, the New Zealand government took the shares in the 'company as a means of making a stand against a prospective monopoly of the petrol market by American oil companies. It was a means of saving dollars, and not as his opponents maintained the beginning of the socialisation of the petrol trade in New Zealand.
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Hauraki Plains Gazette, Volume 55, Issue 32795, 27 November 1946, Page 8
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131ANGLO-IRANIAN OIL Hauraki Plains Gazette, Volume 55, Issue 32795, 27 November 1946, Page 8
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