OIL BORING AT NEW PLYMOUTH

Pahiatua Herald, Volume XII, Issue 2374, 2 June 1906, Page 6

OIL BORING AT NEW PLYMOUTH

“\\ it ness.’ who recently paid a visit itnes. who recently paid a visit to the oil_ works at New Plymouth, says:—“When the demand for shares became keen, Auckland speculators began to drop into the town casually and were easily recognised by one who had been through a ‘boom’ or two. These gentlemen present a typical appearance; keen eyed, hard featured. cigar smoking. bearing about with them an undehnable air ot opulence- and mystery, ready to float Gehenna into 'The \\ armingpan U Ltd," coulel they work the share--e>ff on to an exeited and confiding public, eager to get the- he-tte-r of tiebargain, anxious towards the end of tiie game to find some innocent outsider ‘to nurse the hahv.' These are: the- speculators who are falling uv; : one another to get a ‘cut in' at tinoil field. Those wlv> have- money which hey can afford to gamble with, exjulel not elo better than speculatesame in petroleum; those who cannot affore! to run any risk, sl.enilel put th. ii' money on good olel Strawberry : -liould back milk in preterence to od. I believe that t-he jietroleiiin fine! in New Plymouth, -s a real good thi g. and will develop into a great industry. It is also e vident that there will he a ‘booin’ which, unless people keep tlu-ii* heads a thing no one- eloe-s eluting a boom will elevelop into i frantic gamble in shares, in which many people will ultimately lose every penny they possess. This is the danger against which the public should bew are-."