TARANAKI PETROLEUM CO.

Dominion, Volume 5, Issue 1299, 30 November 1911, Page 10

TARANAKI PETROLEUM CO.

■'" AN EXPERT AItEIVES. Tim PKOSPEOTS. Mr. H. J. Bro'j-n, nianaEing director ot the British Empire Oilfield;.-, arrived from London by the 'Himaroa yesterday. Hβ comes to New Zealand u> visit tho Taranaki oilfields, which his company will now control. With Mr. Brown comes also Jlr .C. Carter, chairman of tho Taranakl I'etrolcum Comptny. who went to England to sell out the coranaay'is interest in fho field to the British Empire Company. Mr. Brown ltnovs something cf oil well< in America., in Nigeria, and on flie. Bhore« of the Black Sea, which. means that he Knows liow the world's supjily of petroleum is won. He thinks TarantUi crude oil tho richest in paraffln that he has known, apd very rich in by-products generally. The terms of the *alh ot tre jigbte to the British Companj reserve tae tight of Now Ztalauders to bavo first offer ot a percentage of the shares. Atter ar rangeraents are completed refinery works costing £2C0,000 -vill be erected at tin wells, and .out of- a total of £3CO.CCO capital, the Taranaki Company will have thr right to take, up £55,Ce0 worth. Mr. Brown t-e-----lleves there is a big supply of oil under tho lloturoa, wells, and he thfn.ijs this because the flow ' from the wells has" eont!'ui.>;d for two yeare without pumping Noth'ug of the kind had ever been known to happen in any. other .wells iu any part el tli= world. KAINS lOLL ESTATE SALE. l[e3Srs. Dalgety and Company. Limited, report- having held a very successful auction sale of the well-known Kains Hill L'b'ate. This property was one of t.he eai-licst.soleetione on the Penintnla, having been taken up by the late Mr. W. Manson prior to the arrival of the first four ships. Compct-'tion was spiriteC. and prices were satisfactory, the various blocks being disposed of afc- follow:—Lot 1, 81 acres, lo \V. H.'Firvislon, at £35 per acre; lot o, 352 arre-, tv W. H. Firmston, at £1G 10s per acre; liot S, 78 acres, to W. 11. Firmsi on, at £16 10.--. per acre; Lot 2, 31 acres, to A. E- Fleming, at £57 per acre; Lot }. 563 acres, to Q. 0. ilnnson. at £17 per acre, Lot 4, «7 acres, to R. P. Bradley, at £',•> 15s. ner acre: Lot 8. 152 acres, to R. p Bradley, at £7 lte. Ncr acre: Lot 13, ?C5 acres, to J. K. Johnson, at £H 15?. per acre: Lot 6, 81 acres, to I!. .Minn, at Sl9 per acre; Lot 7, 3 aeres. to Tl. R. Harri?, at £'H per acre. Tlii« represents un average price of over £15 per acre. NAPIER WOOL SALE. (Hy Tc!ciri.iDh.-Prc'B.i .'iseociiUion.l Napier, November ?9. The first of the season's wool sales in Napier w'aa held yesterday. There was a large und representative gathering from America, who operated for wool suitable to their uounlvy. Among Bradford uien FCveral new fnocs were to lib noticed, and th? Continent iv:ii: rfprcsenteil by four l'rcneii buyers and one frotn Germany. Tim s:ile> :ope;ifd with a gorid swing, aiin bic'ilii'ig coutinued.. iminiated throughiiit nil catalogue:--, ami'the renilt 'wsi.- tha* irevy fcv. , lot*: weie passed, in, ti:e ss!eln.'ins in this ro?pc-et thotnost uotable that have been held for =ome year-.- past. Con trsry to expei:laliou>. priens liraliied did not. show any uiateriol drop. Prime woo!* were only from id. to Id.' lower tlnin lan

year, while ••oar.» , » fliov/ed practically no rhanjre. In explanation of Ibis f-ict it should be borne in mind that wool o.Torcd jf-siorday \vus in bettor condition and better grown than hist year's "dip, and would piv/.'obly J»:*ve fetched higher prices had thn .-tat? of (be market been equally favourable. Then: wa* an exceptionally good demand for pieces and helHe?. mid on (Tu» tthuh* grower* liuvi? every reason t'> lu* .-ati-fied with the financial result? of the «er.:»onV shearing. Tim range of prices was-* ck follows:—llalfhrod. light condition, bright, up to !CJd,; halfbrcd, medium rond't.ion. up to 9'id.: fine cros.sbred, light and bright, up to 10ri.; medium cros-bred, up to fUd.: coarse crosrbrcd, up to 83d.: coarfc nuil" inferior crossbred, un to 7id.; piece* iirid bellies from s'jd. to 9d.; lambs' wool, up to B\d. NEW ZEALAND FARMERS' CO-OP. DISTRIBUTING CO., I.TD. ANNUAIj MEETING OF SHAREHOLDERS. A PROSPEROUS YEAR. The annual general meeting of sham* holder? ol the Now Zealand Farmers' Co-op. Distributing Co., Ltd., wa.« held at tb& company's office* yesterday. The chairman zf directors. Mr. James 0. in movine the adoption of the report and bah anevsheet, r-ated that the business had made, pood progress during the year. The net profit was equivalent to 13 per cent, on the subscribed capital. TTe anticipated that the coming year would be still more satisfactory, as several New Zealand agencies held by the company were proving an source of revenue. He believed that the .farmers were going to have an excellent season so far as cron* were concerned, and that this would directly be to the company's benefit. Mr. Wilson congratulated sha-eholders on th?s very satisfactory position of the company's and also ou the. fact that the farmers had derived greav. benefit from the coinuany's operations. Mr. M. H. ! Welch seconded the motion, which wan runported by several shareholders from Nelson and the Wairarapa. It was di> cided to grant a. bonus of u per cent, ou ! eommrssions paid to the cor. pany during 1 the pftfet year, and to continue to i-sus bonus counons during the comiug season, i , The eWtiou of directors resulted ns fol- I low.s:—Mr. n. J. Richards. Levin :re-! ! fileetfd!: Mr. 0. E. Richmond , ! irfi.n'te(-tcd): and Mr. E. Ea?le, .inn., Belvc'erc. Mr. D. M'Kay, F.T.A.N.Z.. was , elected auditor. Votes of thanUs to di- | rectors and etalT closed the meeting. •\t a Rubsconent meeting of directors, 1 Mr. Jam*- G. .Wilson was rc-clcclcd chairman of directory.