NEW OIL COMPANY.

Press, Volume LXIII, Issue 19172, 1 December 1927, Page 5

NEW OIL COMPANY.

♦ AUSTRALIAN AND NEW ZEALAND TRADE. (BT CABLE—PRBSS (AUSTRALIAN AND N.» CABLB ASSOCIATION.) NEW YORK, November 29. Tho Guarantee Trust Company has announced the flotation of £4,000,000 worth of 10-year 4* per gold bonds of the Union Atlantic Company. The statement says: "The Union Atlantic Company stock, of which 50 per cent, will be owned by the Union Oil Company of California' and 50 per cent, by the Atlantic Refining Company, has been formed to develop the economical transportation and distribution of the products of the Union Oil and Atlantic Refining Companies in Australia and New Zealand. "The company will own all the common stock, amounting to £300,000 of the Atlantic Union Oil Company, Limited, which has been incorporated in Australia, and has already acquired valuable land sites for the erection of storage facilities, as well as for bulk terminals at the principal ports of entry to the Australian and New Zealand markets, "The proceeds of this issue will be used for making an advance to the Atlantic Union Oil Company for the construction of such facilities and terminals, and for other purposes."