The London Markets

Feilding Star, Volume X, Issue 96, 19 February 1889, Page 3

The London Markets

ANOTHER RISE IN FLAX. By Electric Telegraph — Copyright (per united press association.) London, February 16. New Zealand hemp still continues to increase in value, and is now quoted at £41 10s per ton. Wheat— The English wbeat market is steady ; the Continental market shows an upward tendency ; the American is unchauged. For cargoes of Australian new crop on passage, sellers are asking 395 ; New Zealand cargoes on passage average 375. Tallow — 1100 casks were offered and si li. Mutton, medium, 275; beef medium, 265. According to the N.Z. Loan Mercantile Agency Company's London report of 28th December, Manilla advanced Ll2 per ton during the month Sisal, LlO per ton, and New Zealand hemp fully L 7. The report says at auction 700 bales have changed hands at from L3l toL36 per ton for medium Wellington, and L 37 10s to L 37 15s per ton for good clean hemp, while to arrive considerable business has been done on c.i.f. and landing terms. At auction 140 bales tow have been disposed of at from Ll2 to Lls per ton, as in quality, As the market for hemp is at present entirely ruled by speculative operators in America, the course of value in the future is extremely uncertain. It is, however, satisfactory to know that New Zealand sorts are being more extensively used as substitutes for mauili and sisal, as this circumstance should hf. of permanent advantage to colonial producers