THE OIL INDUSTRY.

New Zealand Herald, Volume LIII, Issue 16123, 11 January 1916, Page 5

THE OIL INDUSTRY.

PROSPECTS AT TARANAKI. OIL FUEL AND THE NAVY. [FROM OCR OWN CORRESPONDENT.] London, December 7. A circxlar has been issued to the shareholders of the Taranaki (N.Z.) Oil Wells, Ltd., stating that owing to the accounts not having come to hand in time to enable the directors to hold the annual meeting this year, a meeting has been called for a few days hence, when a formal resolution will be submitted, postponing the business until the New Year. Mr. J. D. Henry hae been abroad practically the whole year, and he left London again a few days ago on another expedition to the West Indies. Asked about the future of the oil industry in £<ew Zealand, he told mo there was a prospect of something being don* early in the New Year. He had kept in toucß with the directors, who were seriously considering plana for the more vigorous development of tho industry, and a serious business move could be expected directly the war situation changed for the better. i

Mr. Henry is greatly interested in the Part played by oil fuel in the navy, and says that there was good reason for believing that tho Navy Board and engineering staffs were in every way satisfied, Certainly nothing seemed to have occurred to disprove any of the engineering claims made in favour of its adoption before tho start of tho war. If ever the statistics of supply were published it would be found that oil had been used in immense quantities, and that it had done excellent work in every type of warship. Ono or two of the largest ships engaged in North Sea tights were exclusively oil-fired, while others used oil as an auxiliary fuel Reports were current in different parts of the Empire which he had recently visited that several of the colonial cruisers nad accomplished remarkable oilburning achievements " Ono result of this extensive use of oil feel, continued Mr. Henry, "has been bv'tS lo^ 1 - 8 ?, hartn S of tank steamers by the Admiralty. They form part of the great auxihary fleet of steamers belonging £*. i mercantile marine. Vessels of this type have 5° been used for *•» transport of troops and water. This has reacteFon tank steamer freights, which have been very high ever since the war started lank steamers have also been sent in greater numbers to the Pacific and it is charter" possible at the present time charter vessels to run in the colonial oil

w«^w e % h^ her he thought tank steamers would be fully employed after peace ha« been declared. Mr - rfenry 'Sd Sat the t.ade should continue to- be a good one vould a ca V li y foT S i aS th ° Enropeaf marked of oil n la V ge 11 "* of all kinds of «i One result of th * war had been the placing of orders for new tTnk steamers with American shipbuSdLjr Sm CThe a d -r\ Wa ? °P eful that aftlr the voulH e British colonies and dependencies in* ft',v*" 6 i )r . esenfc modest ehipbui Id! >n« facilities and join with the Old Conn order", C °^ etin *? r « eneral .WptaSiSS orders and specialist work of the tank steamer class.