MOTOR SPIRIT SUPPLIES.

NZ Truth, Issue 890, 16 December 1922, Page 6

MOTOR SPIRIT SUPPLIES.

New Auckland Company.

In view of the ever-increasing demand for motor spirit, due to the steady growth m the number of private motor cars and freight-carrying vehicles, more than usual Interest attaches to the formation m Auckland by leading Auckland- citizens of a new company, the primary object of which Is tho importation, distribution and sale throughout New Zealand of petroleum.productß. Obviously, to motor vehicle owners such an organisation should be of real value; and, while special mention is made of car and lorry owners, lt has to be remembered that for a multiplicity of purposes other than transit, petrol and benzine are now m dally and / Increasing use throughout tho Dominion. The new enterprise, known as Petroleum Products, Ltd., has the backing of some of the leading commercial people of Auckland. Serving as provisional directors are Mr. C. H. Court, Mr. J. Pascoe. Mr. T. G. Julian, Mr. J. R King, and Mr. H.--A. Robinson.

Tne capital of the company Is £GO,---000, divided Into 59,000 shares of £ 1 each. These shares represent tho whole of the company's nominal capi-' tal. and the public are now beir»K Invited to subscribe. The minimum subscription on which the directors may proceed to allotment is 1-5.000 shares.

It will be well to set forth m some detail the purposes for which tho company Is being formed. As a! rend} stated-, the Importation, distribution and sale of motor spirit are the lending lines of the projected operations; but these by no moans limit tho scooc of the now venture. It is the intention of th<> company to acquire ngenclo.i for petroleum products for the whole of the Dominion. It will Import Into New Zealand benzine and any other petroleum products, and to furlhei the development of their business arrangements are well advanced 'fat storing, distributing and trading m nnd selling, both wholesale and retail, the various petroleum products that ?re now In such general demand throughout tho country.

The company is taking over certalr, rhrhts and concessions for petroleum prot'-ucts, now held by Messrs. Piper ?.x\& Co.. of London, from tho Republic of Georgia. South Russia. Tho company naturally takes power to Itselt for the acquisition of any properties rights or concessions that may or will facilitate the carrying out of any of tho prime objects for which the new company has been called Into boiux.

Naturally one would expect thnt of those who apply for shares a fair proportion will be car owners. To such the promoters offer a special Inducement. In that these isplrit users will be entitled to a monthly bonus on the amount of spirit they purchase; thi.-i bonus will be apart from, and adiMtlonnl to. any dividends that may be payable. The vendors are Mc.««rs. Ci. V. I'lpor and Co.. of London, through th»-it-nfffent. Mr. M. W. lUdwell. of A'K-k---lau<'-. The vendors are the sole promoters of the undertaking, nnd they