TARANAKI OIL WELLS, LTD.

Taranaki Daily News, Volume LVI, Issue 176, 24 January 1914, Page 6

TARANAKI OIL WELLS, LTD.

To the Editor. Sir.-Willi regard to oil mailers in Tsirniinki gcuerallv, anil (hose of lh.> Tarauaki (X.Z.) (iil Well-. Ltd.. in par. ticular, your leading; article of Tuesday last just about scores a bull's-eye; and as a shareholder in the company I feel indebted to you for the spiriicd and eoiumoiisenso way in whicli you dealt : with (he mailer." Hut for the intima- - lion in your leader of an earlier issue II should not have known of the meetins; as it was, I received no ollicial notification of when and where it was to he hold, and therefore could nial;e no arrangements to be present; J may say, however, that in view of the success achieved by Mr. Eodcrowicz (whose experience and the adoption of thorough methods has practical]v proved liie existence of a highly payable oilfield at Moturoa), my vote would have helped to swell the unanimity reported to have prevailed at the meeting. Jtiit had the meeting been open lo the I'icss, shareholders unable to be present, would have been able to learn more of the details, and probably thereby misunderstanding ami mistrust would have been avoided. For it is almost certain there, will be some mistrust as the result of information concerning the transactions of the syndicate, which undertook the recent .Notation of the present parent company;: but, as you state, there is really no grounds for mistrust, for shareholders have always had a straight run in t.hu past, and this they are likely to have as long as they watch their interests and support the local management. However, all's wel! that ends well, and it is satisfactory to learn that steps i are about to be taken lo place the affairs of the company on a better footing. It would be a good thing if more leading sportsmen, as well as the rank and liie, who help to swell the ever-im-icasing tol.ilisator receipts at race meetings throughout the Dominion, would follow Ihe lead of Sir Geo. Clifford and back some of the contestants for petroleum prizes in Tarairaki; they would probably get just as good a run for their money, and even belter dividends in the cud. At one time Mr. E. <!nHiths was a candidate for a seat; on the board of management, of the parent company. He polled well, but was not quite successful. If he i- still free to take such a position, [ think the shareholders would make in, .loulit, of his election, if it could be effected under the projected reorganisation. And, similarly, it is worth considering whether the M-rviccs of Mr. Vedorowic/, could not also lie. secured. Again thanking you for your article, and aUo f,, r granting me s|iacc,--I am, etc.. .SIIAIiKIIOLDKR, rfawera. 21/1/14.