LONDON FLAX MARKET.

Daily Telegraph (Napier), Issue 6016, 5 December 1890, Page 2

LONDON FLAX MARKET.

Messrs F. W. Williams aud ICettle havo received tho following flax report from thenLondon agent per Ruapohu's mail under date October tho 14th :— Referring to my Jsat report of Gr.h ulto., ol>r market for New Zealand, although very quiet during tho mouth, has nevertheless been firm, and holders havo shown but little disposition t*> force oil stocks. At the first public .aits held horu after tho departure of the last mail prices showed a slight advance on the rates of last month, especially ou medium, good medium and fair sorts, but with heavier arrivals and larger supplies at

auction, this slight advance was, however, partially lost at last Wednesday's sales. With the slightest improvem.nt in the values of both Manila and Mauritius hemp lately, holders of New Zealand, although willing to meet tha market, evince but little disposition to throw their stocks ou the market. The deliveries of New Zealand have been fair, but far below what could be desired, in the face of a stock hero of 6000 tons. For arrival no sales have been reported, the prices required by shippers being at least 40s to 30s per ton abovo the spot prices still ruling in this market, A curious featu-eof our market is still the little diti'erence shown as between the values of medium, good, and fine qualities, since, whilst the former sell readily at £19 to £19 ss, good fairto good only realise £19 10s to £20, fine being obtainable at £20 10s to £22. It is to be hoped, however, that shippers will not be induced by this to relax their improved efforts at cleaning aud preparing the fibre, and by so doing to increase our stocks of the lower qualities*. Our supplies at Ruction for the month sum up to 6173 bales, of which' at, and since the sales about 2500 bales, have been placed. Arrivals have been again very heavy, comprising those of the Fifeshire. tVillcwbank, Martha Fisher Akaroa, Persian Empire, Duke of Sutherland, with 10,580 bales hemp and 24 bales tow. A few sales of tow have boon made, common £7 ss, middling to fair £7 10s. Topp-ts have been in decidedly bettor request, and £16 10s to £17 have bean Jiaid for good qualities. It is generally thought that the reduction in the duties on reaping and other twine, under the now American tariff may lead to abetter demand here for raw material, and an increase in the exports of manufactured twine to the United States. Our market closes quiet, but steady, low and inferior half dressed £16 10s, common £18 os to £1S 10s, middling to fair £19 5s to £20 ss, good fair £20 10s to"£2i> 15s. good £21 to £21 10s fine £22 10s to '£23.