THE FLAX INDUSTRY.

Taranaki Daily News, Volume LVI, Issue 91, 12 September 1914, Page 6

THE FLAX INDUSTRY.

AX UNFAVORABLE OUTLOOK. By Telegirap'h.—Press Association. Wellington, September 10. Practically all the ffax.mills outside the Wellington..and Manawatu districts are closed, and in that area not all the mills are running. A week ago the demand from London and elsewhere warranted a price to mil-lers of £lO 10s per ton for high point fair grade. Today cll'ers to sell on a basis '(to millers) of £lß,los for good fair and £l7 3s for high point fair,'failed to elicit any replies from London.. These prices can, therefore, only be regarded as nominal. Work is being done only on part time at some of the mills now manufacturing, and they are keoping on in the hope of an expected improvement of the market/ It is not. yet clear that the fall in prices is likely to continue for any length of time, lint, it all depends . upon .an early improvement in the general tone whether the mills will continue, many of them not having sold the llax already in their paddocks. The war risks for outwards, was cabled from London on, Monday at S per cent.,' which is equivalent to a burden;of- £1 per ton on flax. It is not clear whether this rate applies to cargo from Xew Zealand. The. surcharge of 25. per cent, on current freight rates is also a handicap upon flax, the rate for Homewards for which is £3 3s Od per ton. That rate is.for shipment up till October, when the slightly higher summer rates are. usually fixed. It is understood that the summer rates on (lax would .. £4 per ton this season. With increased charges for freight, incurance, and exchange, and. a weak and falling market, the prospects for the New Zealand Ihvxmiller are not very bright at the moment. ;