PETROLEUM.

Taranaki Daily News, Volume LII, Issue 138, 9 July 1909, Page 4

PETROLEUM.

Says the Stratford Post:-—"Those who have watched the many attempts that have been made for over forty years to bring to light the supplies of petroleum hidden somewhere in the bowels ol the earth in Taranaki were almost in despair that success would ever attend those who have devoted so much time and money in the aearch, but the cheering news of the large quantity of oil that is being brought to the surface at Moturoa, and which is readi--Ily converted into a marketable article, will 110 doubt cause rejoicing whure utter despondency before existed. Tho Mew Plymouth papers are to be commanded for the silence they have maintained in connection with petroleum operations during the past few weeks, for there can be no question that had our contemporaries thought fit they could have stirred the share-market with the knowledge at their disposal, and possibly have brought a number of people with capital to New Plymouth. In view of the fact that there have been so many failures, it was a wise precaution not to excite the public mind further over Taranaki oil until there was something tangible to work upon. The returns at Moturoa just now are exceedingly good, and we trust that instead of a diminution there will be a steady increase in the flow, and that those who have devoted their energy and money towards solving a great problem will be handsomely remunerated."