Manawatu Herald. THURSDAY, APRIL 2,1903. Flax.

Manawatu Herald, 2 April 1903, Page 2

Manawatu Herald. THURSDAY, APRIL 2,1903. Flax.

The cablegram we published on Tuesday from the Agent-General quoted flax in Loudon at £33 as against £3-1 the week previous. We see nothing in this of a disquieting nature, as the hemp market in conjunction with all other markets has its ebb and flow according to the constitution of buyers. Wo have to hand the fibre brokers’ report from Manila dated Slsfc of Janua y last, and there is nothing in it to foreshadow any appreciable decline in value, and if due weight is given to receipts and sales the present looks better than for the corresponding period of 1902, which was satisfactory enough. The total shipments to Great Britain in 1901 to the 31st January was 41,481 bales, to the same date for 1902 it amounted to 52,691, but for this year only 27,672 bales. Unless a very large shipment has been sent within the last two months, which is so unlikely considering the prices quoted in the London market, it is apparent that the ordinary supplies of Manila hemp have not yet been taken up by buyers, and thus the probable requirements will not be exceeded, thus lowering prices, for the future. The report mentions that a very small business was doing in hemp but sellers were firm and the quotation was £B2 18s lOd on the spot. It is worth noting that last year, ending 31st December, the United States and Canada took double the quantity to what they did in 1901, and Great Britain only half as much. From this it would appear that the N Z hemp is being more extensively used at Home, at a price, than before, as we cannot imagine that Britain’s trade in this one article fell to half the usual' turnover. If this is as we anticipate, the price of our hemp cannot fall much in price during the coming months.