NEW ZEALAND FLAX THE AMERICAN SYNDICATE OPERATING IN LONDON. A PROMISING OUTLOOK.

Te Aroha News, Volume VII, Issue 376, 12 June 1889, Page 6

NEW ZEALAND FLAX THE AMERICAN SYNDICATE OPERATING IN LONDON. A PROMISING OUTLOOK.

Amongst the passengers by the direct steamer Ruapenu from London, was Mr 3. B. Gilfillan, of the firm of J. B, Gilfillan and Co., of this city. Fortunately, Mr Gilfillan did not come on from Wellington to this porb by the ill-fated steamer Maifcai, but came forward with his personal effects in the Ringarooma. When in London Mr Gilfillan paid particular attention to the trade that was being done in New Zealand flax, and the information obtained by him, kindly supplied to us by request, cannot prove other than interesting. " When I left London on April 4th," said Mr Gilfillan to our reporter, " New Zealand flax, or hemp, as it is called there, stood at £37 per ton, and Manilla at £55 per ton. The corner in sisal in America, which has agencies in London, made people turn their attention to New Zealand flax, and the syndicate had bought the available , quantity on the spot, and to arrive as far ahead as they could. They were prepared to buy hundreds of tons of flax to arrive six months ahead. '* You refer to the representatives of the American syndicate in London, do you nob ?" ' ' Yes, to agents of the American syndicate who were operating in London." " What is the New Zealand flax used for chiefly in London ?" "Ib has been found that it can be used for the manufacture of binder twine, and large quantities are bought up for this purpose. It has been found very suitable, and much cheaper than Manilla. There is a tremendous demand from America for New Zealand flax." 1 ' Do you mean to say that all the flax that has been sent from New Zealand lately has been snapped up by the American syndicate ?" " The greater part of ib has been bought up by the syndicate, certainly." "It has been asserted that sufficient encouragement has not been given to settlers bo bestow much abbenbion on bhe dressing of flax, by a due discrimination in the prices obtainable. Do you know anything about this ?" " Complaints were being made in London that the market was being rushed with flax carelessly dressed, principally from Wellington. Some flax was sent home full of brown ends mixed with half -dressed material, and this practice, if continued, must bring New Zealand flax down in price considerably ; indeed, ib has had bhat effect already. The last quotation by cable for medium was £31 10s to £32 per ton.'' "Were complaints made about Aucklanddressed flax ?" "No. Auckland-dressed flax is preferred before that which goes from Wellington, partly on account of the superior dressing of the former and partly because the Auckland flax is put up in bales of handy size. Wellington flax is put up in large, unwieldy bales, and for this reason is regarded as objectionable. In January New Zealand flax was quoted at £42 per ton, but that was for some very superior parcels, remarkably well dressed." " Do you think the flax boom is likely to continue for any length of time ?" " Ib will continue so long as we produce a good article, and will command a fair and payable price. It is not likely that flax will ever again reach the low prices that ruled a short time ago." The discussion then touched on other subjects, which are referred to elsewhere. — " Auckland Star." June 6.