PETROLEUM.

Taranaki Herald, Volume LIV, Issue 13174, 26 May 1906, Page 2

PETROLEUM.

iA. space has been, bespoken , at the Ohristchurch- Exhibition ifor a display in connection with the oil industry. Mr Fair will prepare atniodel derrick amd boring pla^t, acid also eattnples of the various product's of the oil.'.

Tho most interesting personality amongst the visitors to Auokla/nfd this week, says the Observer, 'has been G. C. Fair, the American ex!per.t whose exploiting of the Toffaxtaiki oil field has made one of the biggest sh'aremajrTcet sensations that New Zealand has known outside of gold-min-ing, Mr, Fair is here for a few days' trip, aaad naturally his opinions ,as to tho value and extent' of the Miotwraa oil wells have been much in demiand. <He is a man who impresses one very favourably. While he holds very. firm opinions as %o the xichiness arid permanence of the. oil field,, anid the prosperity .which it is' going to bring to TaraaaakY, he is praparfid to leave "to rthe future the confiranalti'on of his 'bh'eory that I 'the deposit -will prove the richest thing of its kind in the world. Furthermore Me looks for big developments apart from* the one bore alrdady. put r ,dowin. If .Mr Fair's, aajpectations are realis©d >: . : New Zealand. -will have fotuftl a isow " in dustry^/that will; make important ,ad ditions,-to- its wealth and- its -reSofur as an employer in the nea* . fu ture: ..

'A Iparty of Welling't^n shareholders, arrived in "town on Friday nigjht, antU this *' niorning visited folie works in" cdirflpamy with Mr Fair, -who had af few buckets of oil run off in theiri presence. The pressure is as great as; ever/ and by turning the .tapr -about; one-eiglrtih on the oil flowed at the! rate of about a barrel in three min-| utes. i ;

The directors of tho Conipatoy met'i' on ITriday night, and ug-ain this ,, af^ terboon, to prepare .^natters for tlie* meeting on Monlday. fIn addition to several Wellingtonr shareholders, some from Aucklattud are; expected on Hontlay for the meeting.} Samo of the tftrnber for tjhe new, derrick, to be erected on the Prison^ Reserve, was delivered this im/oWniing.; Sales' of shares- at £59. and £60 are| reported, but in"' view of the near ap-| prtoafch, of the" on.ieeti'ngi . . latald thej^ issue of the new prt>spcc€us there i^ not a great deal of busiu^is iii shares; - -

' £The preliminafy steps, iow&'qds form; ■ing a prospecting edmpa'ny' tit Inglewood 'are progressing.'