THE FLAX MARKET.

Te Aroha News, Volume VII, Issue 445, 12 February 1890, Page 4

THE FLAX MARKET.

REPORT FROM LONDON. The following is C. Spurling’s New Zealand hemp market report, issued at London on December 27th :—A dull tone' has prevailed in this market since my lasb advices of 30th ult., and the demand both for export and home consumption has been quieter than during the past few months. The decline which was established at the end of last month has only been partially recovered, and that mostly upon middling and fair qualities. Good and fine sorts for the present are neglected. Having regard to the late period of the year, the dulness which of late has been manifest in our market may be partially accounted for ; and it is generally thought that tho opening New Year may see a revival of a better demand for all fibres. The fluctuations in the values of Manila and Mauritius hemp (since 30th ultimo) have not been very extensive ; and, as compared with last month’s prices, little change in value can be noted, although the demand has somewhat slackened. The arrivals since my circular of the 30bh ulto. have been very moderate, comprising those per Ruapehu, Pleione, Lady Jocelyn, Craignair, with a total of 2,132 bales.” The supplies at auction have nob been on so large a scale, comprising 2,829 bales hemp, and 683 bales tow, of which, at and since the sales, about 1,700 bales of the former and 127 bales of the latter have been placed. Several parcels of tow have been exposed at sale during the month, and the bulk withdrawn ; actual sales effected show a slight improvement; common £6ss to £6 10s ; middling to fair, £7 ; while a few bales extra fine cleaned soft Auckland, realised £l4 15s per ton. Having in his circular of 30bh November last directed special attention to the injury and delay done to the New Zealand hemp trade by the highly objectionable practice of over-pressing and of dumping, the writer would desire, in reference bo this subject, to supplement his previous advices by extracting a copy of the Dock Company’s reply to complaints as to the delay in landing the Pieione’s cargo, in which their officer writes : “ This vessel’s cargo of New Zealand hemp consists of different marks dumped together, some for landing and some for over-side craft, necessitating much sorting of marks and shifting of craft. If we were to work another hatchway matters would be complicated, a 3 the same marks for same craft would turn up at different hatches.. This is not a straightforward cargo by any means ; as all through it is a matter of selecting marks and tightening bands after un-dumping.” Our market to-day shows symptoms of greater firmness at annexed quotations. Prices current:—Fine to extra: Wellington, £3llos to £34 ; Auckland, £3l 10s to £33 10s. Good : Wellington, £29 bo £3O 10s ; Auckland, £29 10s to £3l. Mid. to fair : Wellington, £27 5s to £2B; Auckland, £27 10s to £2B 10s. Com. to mid. : Wellington, £26 to £27; Auckland, £26 to £27 10s. " Low and ord. : Wellington (noml.), £24 to £26 ; Auckland, (noml.), £24 to £26 10s.