COMMERCIAL.

Manawatu Herald, Volume XXXIV, Issue 1013, 22 October 1912, Page 3

COMMERCIAL.

HEMP MARKET,

The High Commissioner cabled at noon yesterday as follows : The hemp market remains firm. The demand lor spot is good also for to arrive. Spot good fair, £3l 10s; lair, ,£3O xos ; Manila, £3O ios. Forward shipments; Good fair, £32 ; fair, 15s ; Manila, The output of Manila for the week was 36,000 bales.

The above quotations are an advance on those cabled last week of ten shillings per ton for good fair and fifteen shillings lor lair. The increased prices at present prevailing are due to a large extent to the lact that it has been estimated that the Manila output this season will be 100,000 bales less than usual. The indications now are that the Manila output will be much less on account ot a typhoon which visited the Philippine Islands last week and wrought great damage, destroying the hemp crops in two of the Islands. The cabled report is as follows ; Manila, Oct. iy.

A typhoon wrecked 400 houses in Cebu, one ot the Visayas group, 300 miles south-east ot this city. On the island ot Eeyte 200 dwellings were demolished. Four hundred people are reported to have been killed, and the hemp, sugar, and cocoanut crops were destroyed. The total damage is estimated at In view ot the above a substantial increase in the price of New Zealand hemp is predicted.