TRADE IN HEMP

New Zealand Times, Volume XXXI, Issue 6871, 15 July 1909, Page 3

TRADE IN HEMP

POSSIBILITY OF IT BEING KILLED. PRESENT CONDITION, Recently hopes of improvement in the hemp market were aroused on receipt of orders for America, and reports of largo transactions in Manila hemp in that market. The animation has, however, since subsided. Commenting on the position the “Trade Review" says:—“Sonie contracts have been concluded in. Wellington and other New Zealand centres, and tho market is again very quiet. The output of Manila is being maintained at a rate in excess even of the very heavy production of last year, seeming to shut out any hope of increase in

the demand for Now Zealand fibre, unless either the quality were a good deal improved or the price substantially lowered. Some hopes are entertained of the production of a larger supply of r fine' grade, but the labour conditions preclude all chance of. reducing the cost. There seems to be even a possibility of the trade being killed, as Socialist leaders among the labouring classes are teaching that no bread is better than half a loaf, and although a considerable number of men are out of work the acceptance of anything less than the standard wage is denounced. "Good fair has been sold at <£2o to £2l, and fair at £l9 to £l9 10s. Spot supplv is extremely light, many mills being-closed for the winter, and the few that are open aro only finishing up the stripped loaf on hand. Mills will re-open about the middle of August, unless hindered by weather conditions. "The gradings for the month of June compare as follows with June, 1908: — Superior, nil (91); fine, 199 (10); good fair, 2406 (1215); fair, 2308 (2182); common. 211 (310); rejected, 3 (13); condemned, 16 (10); total, 5143 bales (3831). Auckland. 655 (467); Namier 34 (nil); Wellington and Foxton, 3581 (2656); Blenheim and Picton, 151 (nil); Lyttelton, nil (163); Dunedin, 388 (315); Bluff, 334 (230). Tow —No. 1 grade, 118 bales;

No. 2, 679; No. 3. 344: condemned, 22 bales."