THE OIL INDUSTRY.

Taranaki Daily News, 13 January 1916, Page 5

THE OIL INDUSTRY.

l'llOSl-ECTS IX TAKANAIvI JiOttli VIGOiIOCS ' Di.\ tLUf jIK.NT. OIL I'TKI- AXD 'iilli .\A\ i. /.oaland Herald writes, under date of December 7: — A circular iu.» bun m lue. .shareholders of the Turaimki (N.Z.j Oil Wells, Ltd., stating that owing to the accounts not having come to hand in time to enable the directors to hold the annual meeting this year, a meeting has been called for a few days lienee, when a formal resolution wiil .be submitted, postponing the business until the Xew Year.

Mr. .1. 1). i. L .,A , ..; V... :.■• ...... , ...- tically the whole year, and he lelt London again a few days ago on another expedition to the West Indies. Asked about the future of the oil industry in , New Zealand, he told me there was a prospect of something being done early in the New Year' He had kept in touch with the director.;, who were seriously considering plans for the more vigorous development of the industry, and a serious business move could be expected directly the war situation changed for the better. Mr. Heniy Ts'grean.y interested in the part played by oil fuel in the navy, and says that there was good reason for believing that the Navy Board and engineering staffs were in every way satisfied. Certainly nothing seemed to have occurred to disprove any of the engineering claims made in favor of its adoption before the start of the war. If ever the statistics of supply were published it would be found that oil had been used in immense quantities, and that it had done excellent work in every type of warship. One or two of the largest ships engaged in North Sea fights were exclusively oil-fired, while others used oil as an auxiliary fuel. Reports were current in different patrs of the Empiro which he had recently visited that several of the colonial cruisers had accomplished remarkable oil-burning achievements.

"One result of this extensive'use of oil i'liel," continued Mr. Henry, "has been the wholesale chartering of' tank steamers by the Admiralty. "They form part of the great auxiliary fleet of steamers belonging to the mercantile marine. Vessels of this typo have also been used for the transport of troops and water. This has reacted on tank steamer freights, which has been very high ever since the war started. Tank steamers have also been sent in great numbers to the Pacific, and it is scarcely possible at the present time to charter vessels to run in the colonial trade." Asked whether he ('onjit Innk steamers would be fully employed after peace has been declared, Mr. Henry said that the trade should continue to be a good one for many years, as the European markets would call for iarge supplies of all kinds of oil. The result of the war had been the placing of orders for new tank steamers with American shipbuilding companies, and he was hopeful that after the war the British colonies and dependencies would increase -present modest shipbuilding facilities and join with the Old Country in competing for general shipbuilding orders and specialist work of th*» fp.nk steamer class.