PETROLEUM.

Taranaki Daily News, Volume LV, Issue 191, 2 January 1913, Page 6

PETROLEUM.

TARANAKI OIL AND FREEHOLD COMPANY. At the annual meeting of the Taranaki Oil and Freehold Company, Ltd., on Monday evening, the cliairman (Mr. F. P. Corkill) stated that the company was the only one outside of the Moturoa area which had found oil, and this fact gave their property a special value. He was satisfied their best policy for the present was to await events. The extensive and up-to-date refinery which was being erected by the Oil Wells Company would place all kindred enterprises in a far better position than hitherto, as it provided an always available market for all the oil produced and

would do away with the need for expensive* storage.

The motion was seconded by Mr. G. W, Browne, who also spoke of the advantages afforded by the refinery and expressed the hope that abundant oil would be forthcoming to keep it fully employed. Mr.*F. J. Mansell, of Bulls, said that as tfhe only director residing away from" New Pl.ymnuth he cordially agreed with the policy of his colleagues who had shown themselves solicitous of the interests of their fellow .shareholders and were keeping themselves in close touch with the money market. ' Other shareholders spoke in similar strain. .. ,

; On the motion of Messrs. Mansell and Sinclair, Mr., M. Jones was re-elected, to the directorate. ,'.' ; '.. ' Mr. C. T. Mills was re-elected auditor on the motion of-Messrs. Browne and Laurent,. The Chairman expressed his appreciation of the work of the* secretary, Mr. J. S. S. Medley,.who. notwithstanding the fact that operations were at a standstill, had a great deal more work to do than was generally realised, particularly in dealing with the considerable correspondence which, came to the 'office from distant member's of the company.