LONDON FLAX MARKET.

Te Aroha News, Volume VII, Issue 480, 14 June 1890, Page 4

LONDON FLAX MARKET.

The following is Mr C. Spurling’s New Zealand hemp market report, of date London, April 19th : Referring to my last advice of 21st ulto. our market for New Zealand hemp, which between that date and till recently showed a further decline of 20s per ton on good, and 2Us to 30s on common and middling sorts, has since recovered, and the rates obtained at our public sales of last Wednesday are nearly on a par with those ruling on the departure of the last mail. During the last day or two there have been free buyers of both sisal, manila, and New Zealand hemps, but holders both of manila and New Zealand are to-day withdrawing from the market, whilst a sale yesterday of manila hemp at £35 c. f. and i., April-May shipment, shows an advance of £3 to £3 10s per ton for the week. These sudden and rapid changes in our fibre markets are to be accounted for partly by the enhanced value of silver, and the rapid advance of the Eastern exchanges, and partly through the firmness of manila houses, who continue to store their hemp rather than to force sales. Added to this, it is generally thought that the arbitrary terms imposed by the American Rope Makers’ Syndicate are such as may cause a collapse of its operations earlier than was expected. In this changed state of affairs holders here prefer to look on rather than quit stocks at present rates. For arrival there has been but lictle done in New Zealand, the only reported sale being 50 tons “guaranteed fair Wellington ” at £l9 per ton c.i.f. With the view of meeting the vvishesof several of hiscorrespondentsthewriter begs toannex the marks and particulars of the leading parcels of New’Zealand hemp sold atauction sinco the 21st ulto. He fears, however, that until a more general and uniform standard is recognised, the particulars annexed will prove of little value to exporters, the more so as the qualities under the same mark differ so materially. The particulars with marks, places of shipment, and qualities, are : Wellington : Fine, Waiau, £2710s ; Waihola, £27 5s ; SS, £23 15s per ton; good, JJ, £23 10s per ton ; good middling to fair, CF, HB. M&V, PAX, GH M, Bainesse, £2O j DT&Co., GB,

Bainesse, NB, RWF, PAX, £2O 10s ; GB, £l9 10s per ton ; middling, AJAX, £l9 to £l9 10s; J&H, AJAX, JRF, £l9; Bell £l9 ss; SEB, £l9 15s; RJP, £lB 10s; 808, £lB 10s ; Eclipse, £l7 5s per ton. Auckland.—Low and ordinary : Half-circle over 00, VV and A M, WB, AJAX, RWIF, KFW, £lB 10s ; N and VVB, £l7, £l7 10s, and £lB per ton. Fair to good fair : JCC, £2l; AB, £22 per ton. New Zealand toppets, consequent on being generally badly cleaned and prepared, are dull of sale, and show a general decline of 20s to 40s per ton ; common and ordinary, £l6 to £l6 10s ; middling, £l7 to £lB ; good, £lB 10s to £l9. New Zealand tow in rather more request, but prices show little change; common and ordinary, £6 ; middling, £6 10s to £7 ; fair, £7 to £7 os per ton. Arrivals of New Zealand hemp since 21st ulto. are principally thoso per Ellora, BessHeld, Coptic, Ochtertyre, Helen Denny, City of Benares, wall a total of 3,541 bales. The public sale supplies for the month sum up to 4,450 bales hemp, of which fully three-fourths at and since the saies have been placed. Our market to-day closes very firm, holders awaiting the public sales of next Wednesday.

Prices current :—Wellington : Fine to extra, £25 to £27 10s ; good, £22 10s to £23 10s; middling to fair, £2O to £2l ; common to middling, £lB 10s to £l9 10s ; low and ordinary, £l7 10s to £lB 10s. Auckland : Fine ta extra, £24 to £26 ; good, £22 to £23 ; middling to fair, £2l to £22 ; common to middling. £l9 to £2l; low and ordinary, £lB 10s to £l9 10s.