SOUTH PACIFIC PETROLEUM COMPANY.

Poverty Bay Herald, Volume VIII, Issue 1329, 25 May 1881, Page 2

SOUTH PACIFIC PETROLEUM COMPANY.

Mr. C. D. Berry, the local manager of works, reports that on Saturday last the new bore had been sunk a distance of 100 feet, and that the sinking operations are being conducted by shifts, night and day. As yet no obstacle of any kind has been encountered. The finding of paraffin is attracting attention elsewhere than in Gisborne. Samples of it have been sent to Christchnrch. It has there been analysed and reported on. Other samples have been sent to the Sydney directors, and have been there submitted to an analytical chemist. These reports are looked forward to with great interest. The following letter has been received from the secretary of the Company in Sydney, in reply to one sent by Captain Tucker, in which the resolutions passed at a lato meeting of shareholders were enclosed. The tone of it is conciliatory, and shows that the action taken by New Zealand shareholders has borne good results. The assurances given will tend to beget confidence among the local shareholders, and satisfy them that their interests are not overlooked and neglected.

May 12th, 18SI. Sir, — I have the honor, by the directiou of the Board, ef informing you that the suggestions adopted at a meeting of your local shareholders, and contained iv your favour of the 26th March, will have their fullest consiileralion. I am also instructed to inform you, that the Board will be pleased to consider anything further that your people feel to be in the interests of the Company, and that nothing will be witheld from the shareholders, so far as the working is concerned. Due enquiry will be instituted when any negligence is reported from a reliable source.

I am, &c, H. E. JoPLING, Secretary.