PETROLEUM.

Taranaki Daily News, Volume LVI, Issue 172, 20 January 1914, Page 4

PETROLEUM.

TAUAXAKI (X.Z.) OILWKLLS LTD. - \ A BIG MEETIXG. •

Orer a hundred shareholders of the Tarnnaki (N'.Z.) Oilwells Ltd. responded to the invitation of the Advisory Board to meet Sir George Clifford, .Vow Zealand representative on tile London Board of Directors, at the Town Hull last evening. Mr. C. Carter, chairman of the local Advisory Boaid, presided. At -an early stage the el.ainuan stated that the meeting was u! a, private natiiro and the proceedings could not therefore be reported. The chairman replied to a large number of questions, Mr. Carter gave 'a rcsuioa of the financial position of the company, and Sir George Clili'ord dealt With the interests of the company and of the industry as it all'ccted all parts of th« Dominion, but particularly Xaranaki, in a succinct and trenchant manner* that created a distinctly favorable, impression. Resolutions were passed endorsing the action of the local directors in appealing to shareholders for a temporary loan of iilo,oijt on security of tlio refinery, recommending outside shareholders to subscribe to the loan, declaring the meeting's complete faith in the future of the industry, and, Anally suggesting that the chairman of tins Advisory Board and Sir George Clifford, should, at an early dale, meet shareholders at Auckland, Wellington, Cliristchureh and Duncdin, and lay before them the position and prospects of the company.

OPERATIONS AT BONITHOK. , Fishing operation- with spcchl tools . have been .commenced at the Bonithon. ,«■ Company's bore at Motuion, wila a vWnT to recovering the lost 500 ft ot casing.