Hemp Market.

Manawatu Herald, Volume III, 2 May 1891, Page 2

Hemp Market.

The following is an abstract of Spurling's New Zealand hemp report to hand by the San Francisco mail : — 27, Leadenhall street, London, March 21, 1891. Since the date of my last report (21st ult.) our market for New Zealand hemp has been generally flat and dull. Improving slightly shortly after the departure of the San Francisco mail, and following subsequently the decline in Manila hemp, only a small business

has transpired . during the month, diir niarket closing dull and flat at a decline of 10s to 30s on common, medium, and good qualities ; whilst really good and fine, which are still scarce,- command . nearly previous rates. The "arrivals . which have _^% taken place since the 21st ult. have been smaller than usual. This, coupled with still good deliveries from stock here, should prevent any further important decline in price. Whilst generally admitting the improvement exhibited inthe preparation and cleaning of New Zealand hemp landed during the past three or four months — as regards the crop or crown, the writer deems it right to direct the attention of shippers to a new and defective method of cleaning, shown in recent landed parcels. Several of these show that although the shive and straw had been removed from the crown or points, yet the body of the hemp has been detrimented by too much beetling. The result of this operation is to diminish the value of the fibre for the ropemaker, whose great desiderata are cleanness and clearness of fibre, and not soft, pappy, and bruised fibre as recently landed and now complained of, For textile fabrics the matter complained of might be of comparatively little importance, but whilst the consumption of New Zealand here and abroad is limited mainly, if not entirely, to rope making purposes, it is to be hoped in the interest of shippers that this new system of dressing may be avoided. For arrival some 200 to 800 tons of Wellington, guaranteed fair average, are reported to have been placed during the month, part at £22, and part £21 10s, c.f.i. Generally, however, our dealers prefer at present to hold aloof from the market, and prefer rather to buy parcels properly landed and seen, than to risk the quality and doubts of arbitration which might eijsue on floating parcels. The following 1 are the comparative landings, deliveries, and stocks of New Zealand and Manila hemps in and afloat to London for the months ending 28th February, 1891, and 28th February, 1890, respectively : — New Zealand, 1891— Landed, 286 tons; delivered, 856 tons ; stock, 1902 tons ; afloat, nil. New Zealand, 1890— Landed, . 880 tons; delivered, 945 tons; stocks, 871 tons; afloat, nil. Manilla, 1691 — Landed, 1268 tons ; delivered, 626 tons ; stocks, 1884 tons ; afloat, 8840 tons. Manilla, 1890— Landed, 1451 tons ; delivered, 374 tons ; stocks, 2955 tons ; afloat, 2938 tons. Prices Current — Wellington — Fine to extra, £25 to £27; good, £24 to"^ £24 10s ; good middling to fair, £23 " 10s to £23 15s ; common to middling, £22 10s to £23 ; low and ordinary, £20 to £21 (nominal). Auckland — Fine to extra, £25 to £26 ; good, £24 10s to £25 ; good middling to fair, £23 10s to £24 ; common to middling, £22 10s to £23 10 ; low and ordinary, £21 to £22 (nominal).