INTEREST IN OIL.

New Zealand Herald, Volume LXVI, Issue 20174, 7 February 1929, Page 7

INTEREST IN OIL.

NEW PLYMOUTH! OPERATIONS* sharp; rise in shares.

[BY TELEGBAPH. —OWN CORRESPONDENT.] NEW PLYMOUTH, Wednesday. ' Speculation in Blenheim Oil Company shares continues to be active and sales took place on tho Taranaki Stock Exchange to-day" at £4 and £6. The latest quotations are:—Buyers, £4 15s; sellers, £5 6s. , ~ . One broker reports having handled several parcels of 100 shares, rising from £4 to £5. This afternoon he received an order from Greymouth for a parcel 6:E 1000, Many shareholders are apparently selling enough stock to cover their original investment and are now prepared to await further developments. An interesting fact is that the keenest demand is coming from the south, especially Wellington, Christchurch and Dunedin. There is practically no inquiry from Auckland for shares.

TARANAKI OILFIELDS.

[BV TELEGBAPH.—PRESB ASSOCIATION. J GISBORNE, Wednesday.'

Tho Taranaki Oilfields, Limited, report for the week ended February 2 as follows; —Gisborna No. 2 well: Drilled to 2235 ft. in caving shale; eight and a-quar-ter inch diameter casing is down to 4 2228 ft.

SHARES SELL IN SYDNEY

Australian and N.Z. Press Association. (Received February 7, 12.5 a.m.) SYDNEY, Fob. 6,

Seven hundred shares in Taranaki Oilfields, Limited, were sold to-day, The closing quotations on tho Stock Exchango were: Buyers, 7s 3d; sellers, 7s 6d.

TRADE OF AUSTRALIA.

SERVICE TO AMERICA.

REPORT OF NEW VESSELS.

United Service., NEW YORK, Feb. 5. The probability of the allocation of three new fast cargo ships to the Australian trade is being discussed in shipping circles in New York. It is understood that the Roosevelt Line is planning an improved service with a fleet of large Diesel-engined ships. The announcement is admittedly premature, but nevertheless the' Roosevelt Line is taking over three vessels from the Shipping Board, the Courageous, 7593 tons, tho Triumph, 7588 tons, and the Defiance, 7611 tons, which were recently fitted with the Diesel electric drive.

AUSTRALIAN HONEY SEASON.

DISAPPOINTING OPENING

The flow of honey in Victoria has been disappointing this season. In October and November it was predicted that an excellent flow was assured, but the season has been later tlipn was expected, and small quantities of new honey have been sent forward. The autumn flow is expected to be unusually large. In the Gippsland and North-eastern districts indications are that, a record yield of honey is possible. Unfortunately such honey is not of first grade, and therefore unless the summer flow is larger choice honey may be scarce this year. The carryover of supplies from last season is sm£ll, and a steady market should obtain until new honey is marketed.