The Taranaki Herald. PUBLISHED DAILY WEDNESDAY, JUNE 12, 1895.

Taranaki Herald, Volume XLIV, Issue 10331, 12 June 1895, Page 2

The Taranaki Herald. PUBLISHED DAILY WEDNESDAY, JUNE 12, 1895.

Bomb alarm is being felt at Home at the reports coming from America thatthere is a diminution in the supply there of patroloum. The London commeicial papers consider that either the stocks held in the United States, chiefly by the Standard Oil Company, have been allowed to run so low ns to render it imptssible to meet the demand, or a deliberate schemo is on foot for " cornering oil." It is difficult to say which version is correct, but anyhow oil has risen in pri.ee considerably. In the States the erode oil, which two yeara ago fetched 2e 2d a barrel, cannot now bo purchased for 8a and more. This sudden advance has created quite a boom in petroleum In America, and prospecting for oil in Pennsylvania and Ohio is being carried on with a considerable amount of energy. A London paper referring to the excitement now prevailing in America aays :— " Men, eager to m&ke a fortune while the boom lasts, are seeking throughout the day and night for new sources of supply, and it is reported that where there were lesa than 800 fresh wells in process of being opened at tho boginning of April, 1894, at tho beginning of tho present month there were 1400. The negotiations between tho American and Russian proj ducors are stated to have resulted in a i faTOurable arrangement for the control of tho output, but what that arrangement is has not been announced." The London Times, in its report from the oil fields of the United States, says: — " A remarkable rise in the price of petroleum has caused great excitement in tho Pennsylvania and Ohio oil fields. Two years ago oil was 53 cents a barrel. Last January it wiis 1 dollar, and since then it has been advancing rapidly, until this week it touched 2 dollars 54 cents. On Wednesday the Standard Oil Company, at an early hour, posted 2 dollars 50 cents as its purchase prico for Pennsylvania oil. Pittsburg opened at 2 dollars 55 cente, and advanced to 2 dollars 70 cents. Then, with few transactions, the Standard Company ceasing io buy, it declined to 2 dollais 15 cents, closing at 2 dollars 17 cents. 'Ilu- increased demand for oil cuiifacd by the exhaustion of ihe ."tock recently led tho Htandaid Oil Company, which mainly controls tho output, to fldvanco the price. This has caused increased prospecting for oil. In tho Penn-

aylvania, Ohio, and other oilfields 2,000 new pipa wells have been sunk, while dynamite has been exploded in the old wells with a view to increasing the flow. The Standard Company has been making oxtensiva purchases of oil lands. As the oil 'foyer' increases, the makers of drilling tools and well-borers are being greatly overworked. Prospectors are hurrying j all over the country trying to buy farms or lease wells, and tharg is very active speculation. At Toledo, crowds of excited speculators congregate, and the entire population is described as ' oil crazy.' Leading Pittsburg dealers pay that the daily output has been about 20,000 barrels short of the demand, and all the stocks ara running low." Kerosene has come into such general use at the present time for lighting purpose, that any falling off in the supply of petroleum and consequence increase in the price, will be most severely felt by the poorer classes. What would lake ita place if th«> supply should mn out it is difficult to say. Any district which possesses petroleum is sure to become prosperous in a few years ; and that i^ the reason we ipiagina why so many are investing in the Company now being floated in Sjdney. In America, according to the above account, tho output is 20,000 barrels short of the demand,and that too with an addition of 2,000 new wells sunk, and dynamite being used to increase the flow of the old ones. With petroleum known to exist in the Taranaki district, we should not 1 c surprised to hear of prospectors and speculators from America visiting the plate ; spending money in a trial or so. If a flowing or spouting well should be struck a " boom" would be sure to set in, ami changes effected in the district such a* few persons would be able now toreul'Si-.

The Mahinapua from South wa3 dulayed by tho weather on Tuesday, and did not show up till the evening. She remained outside last night, and came in this (Wednesday) morning, and landed passengers, and discharged cargo.

The contractor for the rubble work at the breakwater will start work on July Ist.

Tho bad feeling between the followers of the Parihaka phophets, Te Whiti and Tohu, is reported to be daily growing in intensity.

The ordinary meeting of the Education Board was held to-day.

Captain Edwin wired at 1.30 p.m. to-day :—": — " East to- north and northwest heavy gale with heavy rain and Heavy sea soon, and very high tides ; glass fall."

Mr Foster, manager of the Estates Company, and Mr McGowan, Commissioner of the Land and Income Tax Department, were in town to-day, being on their way north.

An inebriate was' brought before the Court this (Wednesday) morning, and was convicted and discharged with a caution.

Messrs G. W. Binney and Sons, of Auckland, wire that cow hides have advanced, and are selling at 3Jd to 3^d for all good lota ; and ox hide's aro also up %d per lb.

Tho Government has acquired the Opourfco estate, situated about ten miles from the mouth of the Whakakane river, Bay of Plenty. It belongs to tho Opouaeao Estate Company, and consist! of 6704 acres, including some very rich flat land. It will be subdivided into farmß of 100 to 150 acres, and will be dispoped of on lease in perpetuity. Possession is to be given by the company on January 31st next.

Visiting brethren -to the Mount Egtnont Lodge of Freemasons, Robeatreet, this evening, -will -please note that the Lodge will be tyled at 7 eharp, owing to very large business — Advt.

Mr Newton King notifies that he "will sell a choice, line of ewes ranging from 4 -tooth to full mouth, at his Waiwakaiho sale to-morrow afternoon.

The members of the American Transportation Commission, who are making a tour of the world, arrived by train on Tuesday, and proceeded north by steamer to-day (Wednesday). The members of the Commission are Major Pangborn (Chief Commissioner), Messrs Stevenson, Street, and Jackaon. They were accompanied by Mr Buxtor, Traffic Manager of this coast, aud Mr Jackson, also of the New Zealand Railways. The Commissioners proceed from Auckland to Sydney.

A large number of tenders were sent in for the protective -works at the breakwater. Tbi3 no doubt was through the Tarajtaki Herald nnd The Budget having such largo circulations in all parts of the district and down the West Coast. Mr Pool, the successful contractor, first saw the advertisement in our paper at Feilding, and wrote to us for further information about the work, which we sent him.

The proprietor of the Devonshire dairy has taken the premises juat vacated by Mr C. E. Bellringer, in Devon-street.

Mr W. Carncross, M.H.R., for Taieri in Otago, in a letter to tho Otago Daily Times, accuses feir Robert Stout of insulting him, and finishes up his letter thus : — "Why does not Sir Robert Stout play the part of a man--not a coward — and make a direct charge, so that I may know what ho wishos me to answer to ? What letters and what telegrams does ho refer to? If he dares make a statement that any letter or telegrams ever passed between me and Ministers concerning my political actions, or which in any shape or form bound mo to any line of political conduct, then, Sir, I unhesitatingly brand the statement as a deliberate falsehood." Strong language, but the occasion demands it. Mr Carncroas heads Ins letter thus .• — You told a lie, an odious, damned lie ; Unon my soul, a lie. a wicked lie. Othello— Act V, Scene 2.

One of the recently auived Waikato natives, whose name is Ben Pratu according to a receipted bill found in his possession, created a little diversion in Devon-street east between 7 and 8 o'clock this (Wednesday) morning. Ho started operations at tho East End Meat Bazaar, amusing himsolf by going through gymnastic oxercisos in tho shop, and throwing mo.it about. Constiblo Gray apponrod on tho seeno, anjj after a ncufllo lie succeeded in arresting the Maori, who displayed strong symptoms of insanity. Tho Maori was before the Court at 10.30 o'clock, charged with being a lunatic not under proper control, and was remanded till Saturday for medical examination.

Mr Courtney reports having sold to Mr W. Webster, 30 feet frontage to

Devon-street, next to Mr Sykos' chemist shop, at £31 por foot. The Borough Council has extended tho time for receiving tenders for leasing tho Council Chambers until July Ist. PROFESSOR LIEBEG- says :— "We shall never know how men wero first directed to the use of CoiToo, but wo mtiy consider tho article so remarkable for its action on the hr.iiu arid tho substance of the 01-g.itw of motion as ;m elosnont of food fur organs yet unknown, which arc destined to wnvorl the blood into nervous substances iiml tliiw nxmit the enaigy of tho moving aiid thinking faculties."' If you wish to benefit yourself you could not do bettor than drink Cucvsn's A.I. Coi ri'.E. Sold everywhere 1 nnd 2 Ib. tins. For it is tho hesfc.