GISBORNE OIL BORINGS. BRIGHTER PROSPECTS.

Te Aroha News, Volume VII, Issue 414, 26 October 1889, Page 4

GISBORNE OIL BORINGS. BRIGHTER PROSPECTS.

Wicare glad now to be able to say Mint there seems to us some improvement in the aspect of things afc the bore of the South Pacific Oil Company, remarks the " (Usborne .Standard." The lifting of the column of pines was notably a srre»t achie\ement, and since then there seems to bean honest endeavour on the part of Air Weaver to push the work along. In an operation of this magnitude, of course hitches and unforeseen delays must occur, and only an unreasonable person would complain ab such hitches and delays if they are fairly met and encountered with adequate energy. Mr Weaver is now in town ; he says he is satisfied with the progress he 13 makiner, and we are glad to say that progress is being made. Anything la better than the stagnation of the past two years, which was very irri'abing to those persons who hoped for, and expected, their circumstances be so much bettered by the oil industry. How many of us undertook fresh obligations, and held on to existing speculations, in the hope of the oil justifying such a proceeding ? Ls there one person in business in Gisborne who can say that his expectations either in entering into such business, or iemaining therein, were not more or less based on the hope and belief that oil would bo struck ? Not only the shareholders are deeply interested, but even to a greater extent many who are not shareholders. For the shareholders are many of them absentees who would only benefit by the actual dividend, whereas the residents here, although nob shareholders, would be greatly facilitated by the impetus to all kinds of business, and the increased value given to property of all kinds, were oil again struck. We sincerely hope the late steady progress may continue, and that 1890 may bring us a very different etory in oil matters to 1888 and 1889 ; a story which we shall be only too ready to tell, and which we trust will redound gieatly to Mr Weaver's credit.