PETROLEUM INDUSTRY.
TIMELY GOVERNMENT HELP. LOAN TO TARANAKI COMPANY. For some time past the directors of the Tara-.mki Oil Wells Company have been in communication with the Government relative to obtaining financial assistance to continue the important work of developing the oil industry. It was pointed out to the Government that unless the company could obtain further funds the industry could not be kept alive at this juncture, owing to the impossibility of obtaining money under the present exceptional state of the financial market. It is gratifying to know that the Government have recognised the importance of keeping the industry alive, and have included in the Appropriation Bill, which was passed yesterday, a provision for a sum of £9OOO, which is to be lent to the Petroleum Company on the security of its plant. This will enable the company to proceed with its undertaking for at least another twelve months, and the mere fact that the Government has seen fit to take this step should engender confidence in the shareholders!, and will, it is hoped, lead to highly satisfactory results. ,
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https://paperspast.natlib.govt.nz/newspapers/TDN19141106.2.51
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Taranaki Daily News, Volume LVII, Issue 140, 6 November 1914, Page 8
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180PETROLEUM INDUSTRY. Taranaki Daily News, Volume LVII, Issue 140, 6 November 1914, Page 8
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