The Hemp Market.

Manawatu Herald, Volume III, Issue III, 22 August 1890, Page 2

The Hemp Market.

♦_ C. I?PURLTNa reports on the hemp market under date London July 12, as .follows : — Uuti 1 the past week the stagnant btate of our rna'kct for New Ze.tlaud hemp has been intensified, and prices generally have shown a declining tendency on the quotations of the 14th ultimo. Daring the past ten days however, an im prove 1 demand for good medium and fully fair sorts has be -n eiperiencd, and the downward tendancj of euoh has heen arrested. On the other hnnd low half dressed, as also common and low medium qualities, show little or no improvement, and to effoft sales of these descriptions holders hvo still to accept rather lower prices. For the moment there is but little demand for realiy fine, which is still held for full rates whilst good to good and fine, are ony saleable at from £20 to £21 10a. Supplies at nuction during- the month comprise 6099 bales h nip and 188 biles tow. Of these 4200 bales hemp at and after salas have found layers , the tow being withdrawn withoiv biddings Recent advices that some of the mills— late'y el'sed— are again reopeninsr has rather surprised buyer*. showing that even at prase i low rates there is likely to be a full supply of New Zealand in the linar future has tended to depress our nvirket ; this with the d'-cliniu.-r values of Ssa' and Mauri iin hemp** inducos grant cauti >n on the part of op'-ralors in New Zea'anl hemp. As some set off agai< st this, however, it is sati-fact'H'v to p int to the recent improvement in Manila hemp, which if maintained, may tend to prevent any impor ant decline in the values of iN<*w Zealand As indicating the renewal of important bnsine-s with Americas iles are reported as havn<_' beeu made by some of the Manila houses of from 18,000 to 20,000 balei hemp, -whilst smne 30 000 to 40 000 bales 0' Sisal at £25 to £25 10s are believ d to have been concluded between the Yucatan growers and the American syndicate of rope mi leers. Our market to-day closes qniet but steady, common £16 lOstc £17 10s ; middling £18 to £18 15s ; fair £18 15s to £19; g od fair to good £19 5a to £21 10; inferior half dressed £18 10« to £U 10a.