NEW ZEALAND HEMP.

Manawatu Herald, Volume VII, Issue 245, 8 March 1889, Page 2

NEW ZEALAND HEMP.

The following interesting report on Hem].'* in the N. Z. Loan and Mercantile Agency Co. Ld. January circular has just been received. New Zealand Hemp — The business passing in this article in 1888 waa much more important than in recent years. Values declined during the first seven months of the year but recovered the fall dunu£ c next f° ur months, whilst in December thc7 exhibited a further rapid upward movement. The fluctuations in prices were due entirely to the movements in Manilla and Sissal descrip turns and these in turn were chiefly controlled by speculative operations in New Zorfc course of values in the future, as in the past, must very largely depend upon the current prices for the description. 3 just named, but the extended use of New Zealand fibre as a substitute, owing to toe existing dearness of these sorts, cannov be other than beneficial in establishing it in this market as a more generally recognised article of trade consumption. We annex a comparative statement of Stocks, Landings, and Deliveries to 31st December, 1888, and to a oorrespontung date in the four previous years : — Stock at 31st December— lßßß, 303 ton s ; 1887, 48; 1886, 25 ; 1885, 142 ; 1884, 553. Landed January to December— lßßß.. 2,213 tons; 1887, 723; 1886, 449; 1885, 219 ; 1884, 1,012. Delivered January to December — 1888,, 1949; 1887, 701; 1886, 566; 1885, 680; 1884, 1,016. , / Owing to a falling off in the speculative demand for Manilla, the market early in the year showed some signß of weakness, but during the past week prices have gradually hardened, and close fully on a par with the rates current a month ago. About 300 bales New Zealand Hemp have been sold at an ex Public Auction at* from £36 to £37 per ton for fair AucV-land, while 500 bales Tow have changed k-andß at from £10 10s to £12 5s acoordin v ? to quality. , To arrive, considerable business £&s been done during the month, chiefly on " landed " terms. Manila closes strong to £52 per ton 0.i.f., and sales of Sisal have taken place to £49 per ton on the .spot. I We quote : — Superior Boffc, bright Inmp, £3/ to £40 per ton ; good quality, we'l dressed, L3B r Medium, fair to good, L 37 'o L 37 lCs; common— coarso aud strawy, L 35.