PETROLEUM.

Taranaki Herald, Volume LIX, Issue 143519, 7 June 1911, Page 2

PETROLEUM.

' PAYMENT OF GOVERNMENT BONUS. AN AUSTRALASIAN RECORD. This morning the Taranaki Petroleum Company was advised that a sum of £2OU) had been lodged to its credit at the Bank of New Zealand by the Government, being the bonus for the production of 200,000 gallons of crude petroleum. This established an easy record as the largest quantity of crude petroleum yet produced in Australasia, and the directors intend to improve the occasion by having the draft photographed for reproduction in the illustrated papers, thus to'bring home to tho people that the company has actually won 250,000 gallons of oil.

As o matter of fact, tho oil won now amounts to a very great deal more than that, for since the Government inspector certified to a gallons the two flowing wells. Nos. 2 and 3, have yielded many more thousands of barrels, apd tho store is being added to every day. There is more than a prospect also that No. 5 will be brought in, before long and commence to acid its quota to tho yield* MEXICAN RAILWAY AND OIL FUEL. The report of the Mexican. Railway Company states that 17 engines are at present using oil fuel, and that it was expected that all the locomotives necessary for the working of the lower and mountain divisions would be' ready for burning oil by May 1. It is also anticipated that those engines in service on the upper division of the line will be converted into oil burners by the early part of the next half-year. The contractors are of opinion that the company may rely upon receiving all the oil it may want.

Tlie Times (London) in its issue of April 24 publishes a letter from an Auckland correspondent stating that groat interest has been taken in all parts of New Zealand in the work and statements of Mr. J. D. Henry. The fact is recorded that Mr. Henry was commissioned by tho New Zealand Government to prepare an independent report on the oilfields of the Dominion, and that he had been banquetted by the Taranaki Chamber of Commerce. Other important. London newspapers also have references to Mr. Henry’s visit to New Zealand, all going to indicate that tho shares in the company shortly to be floated will be eagerly sought for.