Manawatu Herald. TUESDAY; JAN. 12, 1897. The Price of Flax.

Manawatu Herald, 12 January 1897, Page 2

Manawatu Herald. TUESDAY; JAN. 12, 1897. The Price of Flax.

.■;:; ' — 1 *• — Thb other day flaxmillera were in* forinact that tbe price of their production had fallen one pound per ton beoauae manilla had- made the , same fall. Thus the^e was grief in | the land and dismay. There need mot be, but rather the contrary, as a simple glance at what is going on in thg wofcld will show. .That manilla .should fall in price juai when its production is being interfered with, appears at first sight very curious, bus read in conjunction with the latest news from the Phillipine Islands appears justified. That tbe priOe has only just fallen proven that the stock of manilla on hand in London is not over large, though we do not profess to know what the .quantity is. The price has not i'allen therefore on that account, nor can it have fallen because the new crop will be ao much larger tban the previous one, as a revolution supply* ing a force of 50,000 men, and requiring a regular army of 88,000 men, with its multitude of army followers to cope with it, cannot be conducive to fibre production. It, on the contrary, points to a very early rise in the price of all fibres, and the natural explanation fur the temporary fall lies in the faot that the Islands are in such a disturbed and j unsafe condition that tbe " bloated aristocrats," the owners of any property, manilla fibre included, are desirous of placing it, even at a sacrifice, where it will be safe. Buyer* always desire to "buy" well,'* and use any exouse for a reduction, but the tale now in circulation is one not worthy of 'credit, except for the reason* w« have stated. The fact that such Yorced sales have only reduced the price one pound a ton is a significant fact in support of our contention. We feel assumed that flax wtrt be worth much more than its -present price in a few months, another fact which is endorsed by the quiet endeavours of some buyers to arrange for a' whole twelvemonth's output pf some of the milts. Those who can afford to hold, should do so, but no miller should accept less than the previous low prices, and they should not tnen take large orders at those prices. , .