New Zealand Hemp.

Manawatu Herald, Volume III, Issue III, 21 March 1891, Page 2

New Zealand Hemp.

♦ The New Zealand Loan and Mercantile Agency Company report, J| under date London, 24th January ; — The trade in this article continues to be of growing importance, the importations into London during 1890

-__-_■ ■-_—■ ■! ■ 111 --.nil IM ■■ I I I' I»■ I' I I'!*. Ml < on comparison with those of the preceding year, exhibiting an increase of upwards of 60 per cent. A corresponding expansion has, however, not taken plape in the deliveries, which are only 44 per cent more than in 1889, thus leaving a very considerable stock on hand at 81st ult. The quantity delivered overside and re-shipped showes a decided zjr^i&Viing off, but direct shipments to the United States are understood to have been on a very large scale, being estimated at upwards of 40,000 bales. During the period under review" it was at times almost impossible to sell at any price the low quality, badly dressed, hemp of which some quality was shipped to this market. The importance therefore of the exercise, of care on the part of shippers to secure the thorough dressing and cleaning of the fibre cannot be too strongly commented upon in these columns. The decline in prices which commenced towards the close of 1889, continued without intermission until the middle of June,, when the market was at its worst. Fair medium, which at the beginning of the year ruled at £28 per ton, was at that date worth only £18 lOs per ton, the most rapid decline occurring during March, wh£a a fall of about £5 per ton was recorded. By the middle of July a recovery of 10s per ton had taken place and from that time until the latter part of October there was little material change. At the last auctions held in that month, however, prices ruled £& per ton above the lowest, and at the following sales, as the result of exceptional competition, a further advance of fully £5 per ton was substantiated. Subsequently the demand became less active, and by the 28th November, prices had again receded, fair medium being then quoted at £22 per ton, with little enquiry. A move hopeful feeling charaefceria'-.d tho la ■' tVnv weeks of the yen •*, and ai rh ; close prices were fully £1. to &"• }«'i ion higher than at midsummer. r l ho oxplanation of the low range <i' r.rices must be sought in the dep» ( :• •m! state of the marrila market. Thr* value of that fibre has remained at a low level throughout the year, exhibiting from time to time important fluctuations, which were as usual reflected after short intervals in the market for the New Zealand fibre. Since the date of our last issue very little change has taken place. There was rather more enquiry afc fche commencement of the year, and a fair business was done privately at pievious prices. At the public sales respectively on tha 14th and 21st instant 8688 bales were submitted to the hammer, and 2700 bales were disposed of at and after the sales. Good to fine Auckland ruled about £1 per ton lower, at £24 to £25 5s >^Jyon, while medium descriptions, Tfcltnough firiaa^c, were without material change. continues dull, and prices are tending downwards. At the close fair current is quoted £87 per ton c.i.f,, and £41 per ton on the spot, We quote ■ superior soft, bright hemp, £25 10V s to £26 10s per ton ; good medium, well dressed, £'24 to £24 105 ; fair to medium, £28 to £28 10s ; do, slightly strawy, £21 10s to £22 10s ; common — ooarse and strawy, £18 to £20 ; hackled tow, £18 to £20 ; tow, £6 to £7. mmmmmmmmtmammmmmmm