CHEAPER PETROL

Waipukurau Press, Volume XVIII, Issue 66, 11 March 1933, Page 3

CHEAPER PETROL

NEW COMPANY FORMED DEPOT IN WAIPUKURAU For many years New Zealand motorists had had visions of procuring high grade motor spirit at lower cost, and this subject has always been a topic of conversation at the various meetings of motor clubs and association, Farmers' Union, carriers, transport services, stock and station firms and the. general motoring public. Not until a few months ago was any real move made to bring the project to successful finality. However, with close co-operation with the leading motor associations (throughout New Zealand) and business men it was decided to undertake the formation of a Motorists’ Petrol Company, with a paid-up capital of £lOO,OOO consisting of £1 share, of which 95,000 were offered to the motoring public of New’ Zealand and the balance to be held by the promoters, who comprise the management and represent the leading motor associations. So successful was this first issue that certain districts, such as Hawke’s Bay, were almost entirely left out, and the company, recognising this, were requested to issue more shares, so that Hawke’s Bay motorists could participate, with the result that the capital was increased to £125,000, and these shares are now being rapidly taken up. The installations at the four main centres are now completed, and have an aggregate capacity of four million gallons.

The first shipment comprising two million gallons, has arrived in Auckland by the British oil tanker “Oil Reliance,” and will be distributed over the main centre installation and which in turn will supply the sub-in-stallations, such as Hastings, by rail tanlc waggons. The Hastings installation will supply the Hawke’s Bay territory from Wairoa to Norsewood by road tanker to the various red, yellow and blue petrol pumps throughout the district. The new spirit has been named “Europa,” which is significant of the fact that this high grade spirit comes

from the richest oil fields in the world, those of Baku on the Black Sea, and the name also embodies the letters R.0.P., an abbreviation of the name Russian Oil Products (the company which markets this.petrol in the British Isles and whose trade mark R.O.P. is so well and favourably known, not only in Britain, but throughout the world). The minimum number of shares that can be applied for is five, and each share, entitles the holder to thirty gallons of Europa motor spirit per year at the reduced shareholders’ rate, besides the share capital carries an 8 per cent annual preferential dividend, which means with the successful operation of the company, a shareholder should recoup his outlay in about the first two years and still purchase his petrol at the low rate. As the additional shares are being eagerly sought after, intending shareholders are requested to make their requirements known without delay, and the local distributors, the Tourist Motor Co., Ltd., which has a depot ih Waipukurau, will be pleased to supply further particulars.