Flax.

Manawatu Herald, 28 September 1893, Page 2

Flax.

[ We are permitted by Mr Gardner, the Chairman of the Flaxniillers' Association to mention the name of the correspondent whose statements as to the grade of the different brands of hemp in the American market, were given by us in a late issue. The correspondent is Mr 0. A. Hanson, the leading hemp broker of New York. After the statement as to quality, Mr Hanson makes the following remarks :— The market is dull both for spot and shipment there being no demand for any position, sisal and manilla are in the same position as to demand and until the two latter hemps become more active New Zealand will continue dull. Manilla

is quoted at. «H cents. for current for" Shipment; sisil at 3£ cents spot and future, while superior Wellington is offered on spot at 3& cents and on the way at same, while shipments are held at 4-J-. 1 expect market will improve when the general stuation of finance and trade does, bnt do not look for high range of prices for the next year. Mr Gardner obligingly points out an error in Mr Cameron's letter to Messrs Bannatyne & Co., which we copied from the Post lately. He saw the original and the sum which the banks would only undertake to cash for cheques in a day for one firm was 50 dollars, not 5000 as mentioned. Fifty dollars ! equalling some £10 ! It recalls the early days of this colony, this giving of I.O.U 'sand promissory notes for small amounts. Mr Gardner in mentioning the matter to Mr John Bryce was assured that when he (Mr Bryce) first landed in the colony it was quite " the thing." Mr Gardner appears to take the same view of the situation as we did in our last issue* as he says, " It is very evident the financial troubles are the cause of the dead ness in the market. It has always been in the past as soon as the stocks of hemp get exhausted the spinners begin to prepare for the next season in the same way as the woollen mills of this colony do, and to do that they call upon their bankers to provide the necessary capital. This year so far they have not been able to get the accommodation and they are perforce compelled to delay their pin-chases and will have to do so till they can get funds, but funds they must get if the next harvest is io be reaped. From a letter I have received the harvest has this year been a vlm v good one, which means the demand will be all the greater when it dops comes."