Hemp.

Manawatu Herald, 4 August 1898, Page 3

Hemp.

f The hemp market is on the decline, and the Agent-General's last cablegram to the Department of Agriculture announces a fall of £2 per ton in the price of New Zealand hemp. The New Zealand Loan and Mercantile Agency Company's message quotes the nominal price at £22. The market will rise or fall in sympathy with the price of Manila, and some information 'on the prospects at the Philippines s will be of interest. The Melbourne "Argus of the 23rd ult. has the following : — •' We learn from good authority that the leading house in Manila haf established itself at Hong Kong, and that arrangements have been made to ship Manila hemp (and doubtless cigars as well) from Hong Kong to the colonies next month. Our informants,

who are quite reliable, proceed— Although shipments will reach here somewhat late in the year manufacturers will be encouraged to entirely use up existing stock of Manila hemp for binder twine. This means a larger supply of superior binder twine than would otherwise have been possible. The Philippines being to all intents and purposes again open for trade, Cuba will soon follow, and speculators for the rise in Havana and Manila cigars run the risk of getting a fall." If Manila passes into the hands of the of the Americans, the development of the hemp trade may be expected, but any such development will be to the disadvantage of New Zealand flax. — " Post."