LARNER'S LAMENT.

NZ Truth, Issue 59, 4 August 1906, Page 5

LARNER'S LAMENT.

A BOOM THAT WENT BUNG.

Aucklanders After the Oil Oof,

* Truth's " Revelations Make Speculators Pause.

If there is one individual more than another who is to-day calling down curses on the benign head of this paper it is stockbroker Lamer, of Auckland City. Auckland went mad m common with the rest of the colony over the Taranaki oil boom a few months ago. In fact, it is a noteworthy point that the Auckland and Wellington stock exchanges had more to do with booming Moturoa £5 shares up to £62 and thereabouts than anything else. It certainly wasn't the true value of the shares or anything like it that made them soar to such A GIDDY HEIGHT. The sole cause for this thusness lay with the bulls and bears m the two legalised gambling menageries named. Latterly things Moturoa have quietened down somewhat and consequently stockbrokers ' have had to turn their attention to other ways and means for raising the wind. The method adopted has been the creation of some half dozen oil prospecting companies formed ostensibly for the purpose of boring into the bowels of Taranaki for more oil. Whether these late-comers really have an honest conviction that the result of their enterprise may eventually spell "spondulix" m the shape of MORE SIXTY-TWO POUNDERS, or whether the game is really got up for ulterior . motives on the part of some and for out and out gambling on the part of others it is not for the ordinary lay mind to say. Suffice it that at the present time no less than five of the oil-seeking schemes are on the board and yet another is mooted. First and foremost among these petroleum pelf pursuing programmes is that of the "Tairanaki Oil and Freehold Company, Limited." The name is a familiar one with Aucklanders ; it has been served up hot for -breakfast per medium of the morning paper and was going just as strongly when, the shades of night jsroduced the evening "Star." In fact, the threatened Russian revolution has had a hard fight to keep its position m the public eye compared with the manifold advantages possessed by the "TARANAKI OIL AND FREEHOLD, LTD." for making mpney. One was entreated from early morn till dewy eve to send along the cash for a few shares m the muchly boomed oil business purchasable like furnitute or a- bicycle on the easy-payments system. The gentleman who was so frenziedly anxious that Aucklanders should come into this good thing and grow irich beyond the dreams of avarice m consaqiuence was Mr V. J. Lamer, stockbroker on tfie Auckland ExchangeSo whole-hearted were his efforts indeed that it is rumored ihat an' effort was on \ foot to present the freedom of the city to Mr , Lamer m recognition of bis efforts for Auckland's well-being. Unfortunately, however, stockbrokers' best laid schemes, like those of mice and men "gang oft agley." A very inquisitive and interfering paper called "Truth" last week put some very plain and. unpleasant facts concerning oil speculation m Taranaki before its readers, and just as things were shaping to boom beautifully there came a GYCLONIC AND CRUEL CRASH. , The article dealt particularly with. Mr V. J. Larner's pet protege "The Taranaki Oil and Freehold Company" and, needless to say, those who read it didn't rush the brokers for shares. This week there has been a noticeable slump m the big advertising boom that has been the order for some time past, and it is understood that Mr V. J. Lamer has been taking a rest to get his" second wind. He has been going great guns* of late and even the mild "Observer" was moved to the remark that "Sharebroker Lamer has reached the top notch m sensational company promoting, scrip.selling, advertising big headlines." "We feel sorry for Taranaki that the bubble has burst, as a> genuine oil field would be not only a much-needed boon for the "Child Slave" province, but for the colony generally. Whilst we would gladly welcome the oil, we cannot too severely condemn any attempt made on the part of company promoters to reap a rich harvest at the expense of the public m exploiting country where at the very best the existence of oil m payable quantities is only a supposition.