PETROLEUM.

Taranaki Herald, Volume LX, Issue 143766, 15 April 1912, Page 3

PETROLEUM.

Applications for shares in the Taranaki iN.Z.) Oil Wells, Ltd., are coming in very freely, and from all parts of New Zealand. Three applications received at tho end of last week alone totalled 11,000 shares, and one of tho applicants, who had come a long distance to personally put in his application, expressed an intention to increase his application if there was a likelihood of the issue being over-subscribed. From this it will bo gathered that those who want shares must apply in good time, because the list may bo closed at any time after Monday next.

Late cables from London indicate that there will be a heavy subscription there also. The prospectus has not been issued there yet, nevertheless a premium is offcitd for shares. As confirming the cable that an oil boom is setting in, it may be stated that shares in tho North Caucasian Oilfields, which when Mr. Carter was in London, wore worth only about Is 6d, for 2s shares, are now wanted at 2s 6d. In fact, Mr. H. J. Brown has received a cabled offer of that price for a large block; and other companies are having a similar experience.