OIL FROM COAL
EXPLOITING BROWN COAL DEPOSITS LONDON, June 3. Tiie issue has been underwritten of £l:iQ,000, 8 per cent, debentures, being the first portion of the capital of £250,000 for the Australian L, and N. Company, which intends to put in a plant at Monvell, Victoria, for the distillation of oil from brown coal. The company will pay the Australian Commonwealth Fuels and Oils Ltd. in shares and cash £75,000 for its Morwell property, and also £2.">,000 in shares and cash for its Australian rights in the L. and N. . distillation process. Three mechanical excavators are to be shipped shortly to begin work, ll is understood that more than £IOO,('OO of the present issue was privately subscribed before the uuderwritL'li-
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Bibliographic details
Poverty Bay Herald, Volume LIII, Issue 16374, 23 June 1927, Page 12
Word Count
121OIL FROM COAL Poverty Bay Herald, Volume LIII, Issue 16374, 23 June 1927, Page 12
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