GISBORNE OIL COMPANY.

Gisborne Times, Volume XXVII, Issue 2498, 11 May 1909, Page 3

GISBORNE OIL COMPANY.

AfEETING OF DIRECTORS. ' ,

A meeting of the directors of the Gisborne Oil Company was held yesterday when there were present Messrs AV. D. Lysnar, J. Clark, AY. F. J. Anderson and T. Adair. ' The Manager (Mr McDonald) submitted the following report on the boring operations which commenced on April? 28: —“I desire,to-state that tho machinery and plant are working very satisfactorily. The formation that we have drilled through this week has been of' a caving character, having struck a gravel strata of three feet, which delayed the construction of the work. We are now drilling in hard, sticky clay and papa. The depth of the well ;is 95ft.” • ' . ' . . The directors decided to invite the Hons'. J. Carroll and McKenzie and 'the shareholders in the company to visit the bore,<at AA’hatatutu on Saturday ’next. The, party will leave by the early .moniing train and.'return by the evening train, while*.drags will be in waiting at Puha. ■ ' It was also decided to make another call of 2s 6d per share, so as to strengthen the cash finances of tlic comp any, and enable the work of boring to be proceeded with continuously, Ty day and night shifts. - „ A considerable amount of routine business "was transacted, and it was also decided that after each meeting of the directors .a report of the i ro.gr.ss_ of the work be available for pu cheat ion for tli'e information of the rea rollorners.