FINANCE AND COMMERCE

Taranaki Daily News, 19 April 1933, Page 12

FINANCE AND COMMERCE

SEARCH FOR OIL.

OPERATIONS AT KOTUKU.

An old oil-boring field at Kotuku, 27 miles from Greymouth, is being rebored. The Kotuku area was first bored more than 30 years ago, when a limited amount of oil was obtained. An everseas company carried out the operations, but no great quantity of oil was tapped. The work ceased during the war period. The company which is carrying out the operations at present is controlled by shareholders who work on the field themselves. CANTERBURY ONIONS FOR CANADA A shipment of Canterbury onions will be loaded on board the Canadian Leader this week for Canada. Those arranging the cargo, although definite that a large quantity will be shipped, cannot state yet exactly what the actual total will be. There have been shipments to Canada in previous years, and one of an experimental nature was . sent from Lyttelton in the second week of March this year. It consisted of 6200 bags. It is claimed that the present time is. a favourable one for shipment. Under the re-arrangement of tariffs at the Ottawa Conference and the New ZealandCanadian treaty, New Zealand onions aio admitted free of Customs duty, but with a 3 per cent, excise charge. It is the off season in Canada for onion growers, and previously foreign onions were purchased. Very few shipments have been sent to Eastern Canada, but several have gone to Western Canada previously.