GISBORNE OIL COMPANY.

Gisborne Times, Volume XXVII, Issue 2407, 23 January 1909, Page 5

GISBORNE OIL COMPANY.

MEETING OF DIRECTORS

Two meetings of the directors of tlio Gisborne 'Oil Company were held yesterday. (Those present were : Messrs W. iD. Lysnar, J. Clark, F. Hall, and T. Adair. The question of com-

mencing 'boring operations was taken into consideration, as -also tlio offers for boring toy contract as well as by wages. The directors decided to have another thousand Shares placed hofore committing themselves, and with what shares have -already been taken up there should ibe sufficient available capital to carry on boring operations for over twelve -months and to -reach a depth oif over 2000 ft. It is considered probable that the -services of a borer with a high -reputation, now in New -South Wales', will be engaged. Tlie -matter of commencing work will be held up from day to day until tin' one thousand shares is made up. Of that number about 450 were subscribed yesterday, and it is hoped that the 'balance will be made up shortly, in which case «. -cable message will he despatched authorising the borer in question to come to Gisborne immediately. All details concerning plant have been obtained, and it has been ascertained that a boiler and engine arc -available -at Gisborne and the .whole of the equipment 01. oil-boring plant can toe secured in Now .South Wales. The-directors are anxious to have tlio 'additional shaves taken up, so as to make tlio -position sate before committing the slnircmo.ders.