PETROLEUM.

Taranaki Daily News, Volume XLVII, Issue 8106, 10 May 1906, Page 2

PETROLEUM.

Considerable interest is being manifested in commercial circlos in this city in connection with the encouraging prospects of success at the Taranaki oil field, writes an Auckland correspondent of the Elthain "Argus." True, it is, that shares in the company arc receiving considerable attention at the Auckland Stock Exchange, but buyers are not tumbling over each other to become possessed of Moturoa scrip. Althoush there are hundreds, aye thousands, who look upon the American " oil king," Mr J. D. Rockefeller, with" envy, they can scarcely believe that the possession of a few Moturoa shares will entitle them to be designated " oil kings," and prefer to " wait events " before " plunging," in case recklessness on their part may compel them to ask that " oil may be poured on the troubled waters."

Commenting editorially on " Oil," the Manawatu " Daily Times " says : Never a development of Nature's riches occurs without the brokers get in and start a gamble. Now the New Plymouth thing looks all right. Even tho prosaic black and white of the newspapers reflects Taranaki's hectic agita. tiou at " the bubbles that are blowing from the bottom of the earth." But, while welcoming Prince Fortunatns to Paritutu, we prescribe the calm cure. Colour de rose is the mode for rogal feast nights, but it will ill reflect the glare of garish day, even in the precincts of "the Garden of the Earth." If oil becomes the staple of the hub of Taranaki—as we sincorely hope it may —it will he a good thing for somebody, but not for everybody. If it is made the excuse for a " gamble in shares," we invoke our readers to pay their honest debts and let it alone.' (Those with gold-mining experiences may dispose of the warning as wills them best!) But, until the field has been proven, it must bo a questionable investment, and then there may be Trust competition to tight, and other things.