Manawatu Herald. TUESDAY, OCT. 30, 1900. Prospects of Hemp.

Manawatu Herald, 30 October 1900, Page 2

Manawatu Herald. TUESDAY, OCT. 30, 1900. Prospects of Hemp.

• _ We have given our interpretation of the statistics supplied by the Manila Chamber of Commerce, and have seen thorn quickly realised by the regular rise in the prices for N.Z. and Manila hemp in the London market. We have in past years drawn attention to the remarkable absence of London prices for these two fibres in the Wellington papers, though they had been sent out, as they were to be seen in other newspapers. The millers have often wondered at) the dearth of information in a city, in which the principle merchants are buyers of fibre, and within the last few weeks we have been given another instance of curipua oversight in the Wellington papers. In response to the request of the millers, made because of the paucity of cable news concerning hemp, the Government has secured a direct cable from the Agent-General as to prices quoted for fibre in London. The first quotation was received over three weeks ago, and since, one cable a week has arrived, all showing a steady marked rise in the prices, N.Z. hemp having risen £2 a ton and Manila £4 a ton. It is instructive to record that these cables have not appeared in the Wellington papers, yet they profess much interest in the industry, and frequently offer some opportune remarks— for buyers. The latest instance appeared in the New Zealand Times for Friday, and was as follows : — " That the impression amongst those who ought to know seems to be that there will be a falling off of about 60 per cent in hemp production this j season as compared with last. The cessation of hostilities in the Philli- I pines has released large quantities, of superior material, sufficient to keep th: ::rv.!iot stocked for some time." »

Coming at this does after the above rises have been made public — by the Government - the forecast is not one of very much value., and would only mislead men who put their whole tru3t in the news supplied' by the Times. That some merchants search for trade inform 'ion no further than the co umns of the Times was instanced by a Wellington merchant writing last week to a miller enclosing account sales of fibre in London in August last, and in commenting on the price, suggested that it arose from an immense shipment of Manila having been received, and prognosticating that the outlook for N Z hemp was bad ! This is the way our important industry is fooled with, and during the last ten years not a single effort, except that by the flaxmillers of Poxton, has been made to get direct information. It shows that the merchants are no further interested in the advance of the colony beyond securing their profits in tho simplest manner possible, and if. furfhw rhov/s how wanting in enterprise our eading mercantile men are. The usual way of working the Manila is that ..the stripper of the fibre and the owner of the property share the money the fibre realises in equal proportions, and owing to the small amount that a man can produce a clay we have found that all the st.iipper gets on these terms, oven when Manila is worth £40 at the port of shipment, is eight shillings and threepence a week, which is not a sum likely to tempt even a heathen Chinee to prepare much of, if the price gets, as it is now, much below that sum. We can therefore look to an early rise of Manila to £40 a ton, with a proportionate rise in our own fibre. [Since, the above was written the cable from the Agent-General has been received which is a thorough endorsement of what we have written.]

Lord Rosebery has sold his stud and is quitting the turf. The M.'inawatu Railway Company intend placing an officer in charge of the Levin station. Ford, a teller in the First National Bank in New York has absconded. His defalcations amount tb about i £140,000. The meeting of Foresters will be hold to-night in the 1.0. G.T. Lodge room, and not at the Schoolroom as previously advertised. A Chinese gambling house in Hain-ing-street, Wellington, was raided on Sunday night and a number of men worn arrested. They were caught redhanded playing fan-tan. The sharpest shock of earthquake experienced at Napier for several years I occurred at twenty-two minutes after midnight, on Thursday. The direc tion was from east to west. The Mail hears that Miss McWilliam hid the misfortune to bread her leg on Friday evening through slipping on the court while playing tennis. Dr Power was immediately in attendance, and set the injured limb. The grocers here are following the lead of the Wellington Grocers and notify that in consequence of the rapid advance in wholesale prices, the retail price ot currants and sultanas will be eighlpsnce per ponnd. The first consignment' of carriages br the c.v.TC.si tniius which the. rail I v."!v Department is obtaining from th« United States is believed to have left St. Louis for New Zealand.* All the carriages are to be despatched by December. . . Informations are to be laid at the instance of the Official Assignee in bankruptcy against the manager of a leading firm in Wellingtori ; for allegedly making false declarations and furnishing false accounts in connection with a recent bankruptcy. Mr J. Cotter, of Palmerston writes from Lriiidnn that " I saw some good racing :u Paris, and in ■ their appurtenances, such as stands, they beat English hollow. I Hear- Mr . RvV!SAbraham has bought a horse to send out." The billiard match between John Roberts, the English champion, and. Fred Weiss, champion of Australia, has resulted in a win for Weiss who with his score at 20,984, ran out a winner with an unfinished break of sixteen. Rober.ts's score stood at 20,---no. The match was for a wager of £500 a side, 21,000 tip, Roberts^ having conceded his opponent 7000 start. Three prisoners confined in the Terrace • Prison made a determined attempt to escape on Thursday night. They managed to secrete some tools in their cell, " and when locked up for the night proceeded to tear down the outer wall, hoping thereby to get into the gaol garden. A warder, however, heard the noise, and, calling the governor, a visit was paid to the cell, and further operations prevented. The men were not detected any too soon, for they had nearly succeeded in carrying their object into effect. So sure were they of getting away that had drafted an elaborate letter of farewell to the gaoler.