FLAX & N. Z. LOAN.

Manawatu Herald, Volume III, Issue III, 28 March 1890, Page 2

FLAX & N. Z. LOAN.

TO THE EDITOR OF THE MANAWATU HERALD. g IR) _Lest there be misapprehensions with regard to the statement that appeared in your report of the last Hemp Millers meeting tbat the N. Z. Loan were buying flax at £14 a tons, some might .imagine that they were parties with the ring :n America to screw down *r.o miller m the colony to the lowest :?raclri taking advantage of their necessities and eventually to ruin the trade. But those who would think so do hot know the company. I am assured by Mr Smith the buyer that what I should have said was could buy not buying at £14 and as a matter of fact they had never bou 3 ht under £17 10s to execute any of their late orders. But even had they bought at £14 my remarks at the late meeting went to show they were only doing perfectly right as commission agents considering their principals interests so long as that was the market price, the regret being that there were any prepared to sell at that figure. My own experience of the Loan and Mercantile leads me to say that no institution has done so maeb.for the Flax industry of the colony as it has. We can always depend 'upon it for the latest, widest and most authentic information abefct demand, market, and priceß, and it haal beSn in the past the first f recognise its va'ue, fver ready to buy or make liberal advances on a good article. I am &c. BOBERT GARDNBB. 27th March, 1890. .