UNFORTUNATE INDUSTRY.

New Zealand Herald, Volume LVI, Issue 17111, 17 March 1919, Page 6

UNFORTUNATE INDUSTRY.

FLAXMILLERS' TROUBLES. ! '■ NO OVERSEAS MARKET. - SIaRGE STOCKS IN STORE. ".... ; -. ;:...• ii-i, ..;,., ~:'.*'•' ;. ■ -■~ . Official; figures compiled by the Depart* ment of Agriculture show a" substantial ■ falling-off in production of New Zealand heap during the year ended February 28.. The production,-or rather the quantities in bales graded .were as follow:— . , • : , k ■■- ■'' , ' 1917-18 1918-19 ,-. Hemp • .. .. 161,148 •-141.161 Tow!.., .. .. 36,897 . 22.283 • Stripper slips . .. .2,665 ~, The decreases for the past 12 months are 19,981 bales hemp,'. 14,114 bales' tot, and 1713 bales 'slips, in. all 36,708 bales. Tho grading of hemp for the' month of February last for, the whole Dominion, namely 13,453 bales, showed a shrinkage of 3992 bales compared with -the quantity graded in February, 1918. '«Fair "grade hemp accounted for 11,918 bale's, r ; -.* It has been estimated that there are fully 40,000 bales of flax in store in New Zealand awaiting export, .-. worth, at, least £225,000. There ,is sailing tonnage offering to the United States, at a'lovy rate, but: ho market there except.for prbmpfc delivery, according to latest reports. London is described' as "nibbling. ' Much of the hemp held in:store; is on millers' ac- ; count," representing a very large sum of money in the aggregate paid out through | labour, royolty and other channels. .. "i ■ In these circumstances the mills in the Manawatu and Ponton districts have' been compelled to dose down, and mills in the Auckland .and Southland- districts have also closed. Their reopening before "next season begins is problematical. Inquiries made in Wellington have failed to, obtain a price for flax to-day, except for one or two small parcels, worth 'about £33 per ton, f.0.b., for .high fair grade. This is a fall of £5 per' ton on rates ruling there three months ago.