N.Z. OILFIELDS, LIMITED.
i PROMOTERS' PROFITS. [By Electric Telegraph—Copyright] [United Press Association.] London, September 20. At a meeting of creditors of, and shareholders in, the Xew Zealand Oilfields, Limited (operating mainly at Gisborne), the Official Receiver reported that the prospectus insufficiently disclosed the enormous profits to the promoters. It appeared that the original concessionaire was willing lo sell his interest for £52,000. The company paid £110,750 for it. The company started with a working capital of £52,500. The expenditure included £7500 to MacDonald for the 'acquisition of the Gisborne oilfields, which was dropped, as the report was unfavorable, but MacDonald retained the cheque.
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Stratford Evening Post, Volume XXXVII, Issue 18, 22 September 1913, Page 4
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103N.Z. OILFIELDS, LIMITED. Stratford Evening Post, Volume XXXVII, Issue 18, 22 September 1913, Page 4
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