TARANAKI OIL
■ "■' '■■':■■■' °~ ',0 ■ .'..'' ~ PROPOSALS FOB,' ASSISTANCE.. ' The following clause was in the Appropriation Bill passed by tie House last night: "For the purposes of en-: couraging the production and refine-, m.enfc of mineral oil in Now Zealand the" Minister.of Finance is hereby authorise ed to pay out of the Consolidated Fund by oivay of loan with such secur-: ity and on such terms and conditions as. ho thinks fit, any sum or sums not exceeding in the aggregate the sum of £9000." ■ ■ ■ ■ , ■~.:; • The Prime Minister eaid that the money was intended to be lent for the purpose of assisting the oil industry iii Taranaki., The Government, ■;lie believed,, would not be justified.in-allow-ing the industry to come to grief, with.out coming to its assistance. The Government,had considered the matter and ■had.'decided,,that it was,,their duty. to. assist a struggling' industry. The money would not be lent except, the security offering was good. One company, the Taranaki-New Zealaud Oil, Wells■ Company, had applied to the Government.' for assistance, saying that.tTiey had exhausted their resources, and that de-. velopment work wa-s necessary. ,
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Dominion, Volume 8, Issue 2299, 5 November 1914, Page 6
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178TARANAKI OIL Dominion, Volume 8, Issue 2299, 5 November 1914, Page 6
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