THE PETROLEUM INDUSTRY.

Taranaki Herald, Volume LX, Issue 143773, 23 April 1912, Page 2

THE PETROLEUM INDUSTRY.

Perhaps it is hardly necessary to remind our readers that the time for receiving applications for shares in the new petroleum company will expire tomorrow evening. This is one of the most important industrial undertakings ever placed on the Dominion market, fraught too with possibilities of immense importance to tliis town and district. It is gratifying therefore to learn that very substantial support is being accorded it, not only locally and throughout New Zealand, but also in neighbouring colonies. hen the subscription list closes to-morrow night it will probably be found that the applications received, at this side of the world cover a very large proportion indeed of the whole issue. What London is doing wo are not yet aware, but indications have la tell' pointed to a large subscription there also. The oil market on the London Stock Exchange has made a good recovery from the stagnation which marked it for several months, and the Taranaki Oil Wells, Ltd., offers just what the public are likely to seize upon first when confidence returns —a proposition with substantial backing in the shape of proved territory and a directorate which is absolutely above suspicion. .Few oil propositions have gone to the public under such favourable circumstances in these respects, and it null not be surprising to find that the capital is largely oversubscribed. In any case the applications already in give assurance of abundant capital to proceed energetically with the development of the company’s property.