PETROLEUM.

Taranaki Herald, Volume LX, Issue 143762, 10 April 1912, Page 2

PETROLEUM.

THE TARANAKI COMPANY.

As showing the growing interest that is being taken in the developments at the works of the Taranaki Petroleum Company at Motnroa, there hay© been 500 visitors to the works since the beginning of April. The three bores, Nos. 2,3, and 5, are still flowing well, and the manager reports that during the last fortnight No. 2 has increased its flow. Visitors to the bores are always keenly interested, -and the opinion is freely expressed that if the people outside could only see for themselves what is taking place there would be no doubt as to the ultimate success of the m-dusti-y. , . _ . . The Hon. T. Mackenzie, Prime Minister, and the Hon. Mr. Russell! Minister of Public Health, accompanied by the directors, were interested visitors to the 'Taranaki Petroleum Company’s field on Tuesday, Surprise was expressed at the work accomplished, and both the Premier and the Hon. Mr. Russell made complimentary references in the visitors* book. The former wrote: ‘T wish the enterprise every success,” while the Hon. Mr. Russell made the following remark; “The wonderful success already assured augurs well for the future of the oil industry at Taranaki. 1 wish it complete success in the future.”

The Shell Transport Company is about to increase its capital by £3,500,000. Shares have risen during the last few days on tho London market, as a consequence of. this, from 74s to 945. , The company has lately acquired the Rothschild oil business in Baku.