PETROLEUM.

Taranaki Herald, Volume LX, Issue 143770, 19 April 1912, Page 2

PETROLEUM.

TARANAKI (N.Z.) OIL WELLS, LTD,

As the time approaches when the subscription list for the new company will close, applications for shares are pouring in to the office. The New Zealand Herald says that Auckland brokers report a very fair number of applications already received, including a few for parcels of 1000 each, and others are arriving by each mail. A Christchurch broker wired last night that he was forwarding applications for 11,000 shares. This points to a heavy subscription in New Zealand. The advertised prospectus states that the, list- will dose not later than Wednesday next, the 24th instant, but it is quite possible that it will close on Tuesday, therefore those intending to apply for shares should not delay, hut get their applications in to-morrow or Monday. Mr. H. J. Brown this morning received the following cable from London: “People here are taking very great interest in issue of Taranaki (N.Z.) Oil Wells, Ltd. Shares are being purchased on the Stock Exchange at a premium of 3s 9d, Anticipate rush for shares when lists open on Monday. Market strong.” The manager reports that all the wells are fidwing just ns freely as when last reported, and that everything is proceeding satisfactorily at the works. The large underground tank at No. 2 boro, which is just on completion, will not be ready a day too soon. The adjoining tank will be full to-morrow, and Sunday’s oil must go into the new tank. The interest shown by visitors in the industry is still growiug. Large numbers from near and far are daily in attendance .at the works, and all evince surprise at the developments taking place.