THE HEMP MARKET.

Auckland Star, Volume LVII, Issue 96, 24 April 1926, Page 6

THE HEMP MARKET.

The hemp' market continues to decline, and it is aaily becoming a more difficult matter to Jlnd any buyers at all. One or the larg-est American • manufacturers of cordage, writing under date March 12; remarks: ■'We have liad further breaks in manila, prices having gone down three cents per lb, and it is almost too unsettled to quote. Shippers have resisted the downward movement for some time, but have now thrown up their hands, and want business on almost any reasonable reduction in prices. Buyers seem to be thoroughly frightened, and, with slow business m manufactured goods, they .are' looking for a general reduction air round and carrying as little stock as possible, having in mind the immense losses of 1920." it is iortunate that most New Zealand millers have rpllowed the practice of contracting, as it enables them to stand a siege when a depression like the present one sets in. They ■ cannot, however, stand for more man two or three weeks longer without selling further quantities, and it rr^S,,? 6 h ,?P e ? that in the meanwhile the better c taten a turn for tne