SOUTHERN CROSS PETROLEUM COMPANY.

Poverty Bay Standard, Volume IX, Issue 976, 7 September 1881, Page 3

SOUTHERN CROSS PETROLEUM COMPANY.

An extraordinary meeting of the Shareholders of the above company was held last evening at the Masonic Hotel, at which there was a good attendance. The business for which the meeting was called was to consider the proposal of Mr. M. Benies for the erection of a Refining Plant, on the Company’s property, and after considerable discussion the following resolution was unanimously carried, on the proposition of Mr. J. East, seconded by Mr. W. Cooper That this meeting approves of the action of the Directors in so vigorously prosecuting the works under their control; and with a view of placing them in a position to commence refining, and marketing the paraffin, and petroleum, now at hand on the Company’s property —and of doing all works necessary for the development of the interests of the Company generally —the shareholders hereby sanction’the making of calls by the Directors of more than one penny per share, per month, and not to exceed the sum of one shilling per share, per month. The following has been placed at our disposal, received by last mail from Melbourne: — Chemical Laboratory, 29 Queen-street, Melbourne, 12th A ugust, 1881. W. Clabke, Esq., Managing Director of the Southern Cross Petroleum Co., (Limited), Gisborne, N.Z. Dear Sir, —The samples of Paraffin, “ Butter,” and Petroleum which you sent to this laboratory for analysis are of high quality as crude minerals. “Butter” contains 3.56 per cent, of water, 75.05 per cent, of solid and fluid paraffin, and 21.39 per cent, •of clay and other impurities. The Petroleum has a specific gravity of 0.835 at 15 per cent., and on distillation yields 58 per cent, of first rate burning oil, and about 25 per cent, of lubricating oil. R. W. E. Maclvob, F.1.C., &e, Registered Analytical and Consulting Chemist.