Description

The Oakbank Oil Company Limited, Report by the Directors and Abstract Balance Sheet for Year Ending 31st March 1912. To be submitted to the Twenty-Seventh Annual General Meeting of the Company on 22nd May 1912. Details the: Profit and loss account Dividends Directors changing or retiring Liabilities Assets The balance sheet also states that: 'The decreased profit is due to higher costs and lower prices realised for the Company's products. As anticipated, Sulphate of Ammonia has given a larger income, but the products of the Crude Oil have given a very much reduced income. Prices of all our products have, however, recently advanced and are likely to continue for a time on a higher level. On the other hand, the costs are also likely to be higher in the future. The Shale supply continues ample, but the cost of mining is increasing as the workings extend. The Retorts at Oakbank have been in full work since 1st October last, and the Refinery there is now fully equipped and capable of dealing with a much larger quantity of Crude Oil than is at present available.'

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