COMMERCIAL.

Nelson Evening Mail, Volume XXXVI, 4 November 1902, Page 4

COMMERCIAL.

I LONDON HOP MARKET. Messrs Bisley Bros, and Co. forward us the following information, just received by them by inward mail: -The interval that has gone by since the middle of August has been a mo3t trying one in the hop trade, by reason of the increasing anxiety that has been felt as regards the ultimate fate of the English hop crop this season, its precarious condition in face of changeable and unpropitious weather for the development of the flower. Besides other adverse influences, such as hot dry days, and cold damp nights, in causing mould to spread during the final and most critical stages of the bine's growth. Its progress from the earliest part of the year has been watched with apprehension and fear as to tha probable result of the new season's crop, and from the iirst attempts to guess what the estimate of the 1902-3 crop of home-grown bops was likely to be in size and weight, it has been an almost foregone conclusion that the vield would be materially short of that in 1901-2, comprising some where between one-third and onehalf of the crop raised then under much more auspicious circumstances, when the acreage alone was 3,100 acres wider than it is this year. The above calculation is still as near about the truth as can at present be ascertained with two or three weeks to run before the final computations can be safely made, and it follows that according to this outlook for the article, the market for hops must continue to maintain an advancing tendency. These statements have been received with full credence, if not approval, by the brewing trade at large, who clearly perceive that the low prices with which they have been favored for several years past, has come to an end at last, and no one can predict with certainty whether the duration of higher rates for hops will be brief or otherwise. While prospects are believed to be as discouraging as repesented, buyers have not allowed themselves to be carried away with excitement, aud no speculative movement has beon started anywhere, as was frequently the case in former years. Operators in these latter days have learned to take things more leisurely, and some of the larger purchasers have plenty of "1901" on hand, bought months ago, to meet their instant requirements, evince little or no inclination to augment their holdings of what will soon pass as "old" hops. Indeed, so exhausted has been the supply of what may fairly be termed "last season's" hops, that, if at any time during the last month inquiries had sprung up, it would have been impossible to satisfy them all at once, and recourse would have been had to the expedient of re-sales by buying the same parcel two or three times over, and finally invoicing thorn at the extreme currency of the mnrkot to the most eager of com- j petitors to supply their immediate j wants. Where hops have been pro- J curable during the month, they have J invariably consisted of medium and , lower qualities, including "yearling" j 1900. The highest prices ruling for East Kent Goldings, last years, have beeu £6 6s to (perhaps) £6 10s; finest kinds of other Kents to £5 12s. . Sussex and Farnhams, £i 4s to £5. Nothing is left of the English 1901 crop that can be bought under £3 per cwt, and all quotations establish a further advance on those of a month back. This improvement therefore is to be taken as a pre liminary to even higher rates being demanded as the opening ones of the new season's pickings, which are expected to range between £6 and £7 per cwt, if not moro for really choice quality, such figures having been asked for early sorts that were picked before blight and disease had got too strong a hold for the hops to be of auy use to brewers. Through the lateness of the season, very few samples have been placed on the market yet, consequently no sales , that would serve as a criterion of the general rate of the new season's growths have transpired, and some time must be allowed to elapse for a fresh scale of quotations to be fixed ere business can settle down into a steady and healthful groove.