AMERICAN OIL COMPANIES

Nelson Evening Mail, Volume LXI, 30 November 1927, Page 7

AMERICAN OIL COMPANIES

OPERATIONS IN AUSTRALIA AND - NEW ZEALAND (By Electric Telegraph—Copyright) (Australian & N.Z. Cable Association) (Received 30th Nov., 11.35 a.m.) NEW YORK, 29th Nov. Tfie Guarantee Trust company announced the flotation of £4,000,000 for ten years 4i per cent., gold bonds of the Union Atlantic Company. A statement says:— "The Union Atlantic Company, the stock of which will be owned 50 per cent., by tho Union Oil Company, California, and 50 per cent by the Atlantic Refining Company, has been formed to develop tho economical transportation and distribution of products of the Union Oil and Atlantic Refining companies in Australia and New Zealand. The company will own all the common stock, of £300,000 of the Atlantic Union Oil Company Limited, which has been incorporated in Australia and has already acquired valuable land sites for the erection of storage facilities, as well as for bulk terminals at the principal ports of entry to the Australian and New Zealand markets. The proceeds of this issue will be used for an advance to the Atlantic Union Oil company for the construction of such facilities, terminals, and other purposes."