11 MARCH 1865, Page 3

The Wallachian Petroleum Company, which was formed in February last

year, and which is now, as far as the production of crude oil is concerned, in efficient working order, has announced a further issue of 4,000 preference shares of 101. each, entitling the holder to b preferential dividend of 7} per cent. out of first profits, with rateable participation in further profits. The object the directors have in view in issuing these shares is to erect a refining establishinent at or near Ibraila, so as to extend the busi- ness of the company to refined oil, on the sale of which they will realize a greater profit than in merely confining their operations to the sale of crude oil.