ENGLISH COMMERCIAL.

Taranaki Herald, Volume XVIII, Issue 981, 4 May 1870, Page 2

ENGLISH COMMERCIAL.

FLAX MARKET. We have gathered together for the information of thoso interested, the following reports on the New Zealand flax market in England :—: — Anglo- Australian writes — •" Since the last mail tho position of New Zealand flax in the market here has been all in favour of buyers, and they, as well as sellers, are now fully assured that no more high prices will bo seen, ab any rate, for some time to come. Present quotations run as follows : — Part dressed, 195. ; fair, 255. ; fine, 31s. I may mention that there are to be found a few large importers, who, over sanguine, as it seems to me, hold out for former high figures, or nearly so. There is before me a reporb of one of tho largesb firms of ropemakers in the north, and they consider the article a failure as an untarred rope, bub when tarred think it will command a limited markeb at a low price. This verdict inusG be taken for what ib is worbh, since they are large buyers, and have consumed to my certain knowledge, over one hundred tons. The best thing thab can be hoped for tho article is a temporary cessation of shipmenbs ; for the markeb is now flooded wibh the flax, and time is wanted to look round, and to sell the manufactured article." Tho New Zealand Loan and Mercantile Agency Company, (Limited), reporb as follows; — "We are unable bo reporb much business in New Zealand flax since our January issue, bufc we see evidence of a better opinion regarding its usefulness, several experiments having been tried with ib, with, on the whole, satisfactory results. Some persons have been taking great trouble to create a prejudice against the use of this fibre, bnt if prices are kept afc a moderate rate, we have no doubt there will presently be a large consumption of bhe bebber sorbs." Messrs. G. and J. A. Noble report a very limited business in New Zealand flax, bub they say that last sales show a better feeling with regard to its use, and they hope to be able to reporb a more decided opinion in this direction next mouth. Messrs. Ellis and Hale observe, — " Oar market is flab, and sabs only made afc a considerable decline; and out of 1,027 bales offered in February, only 300 bales sold ; common and half-dressed, £18 10s. to £2-1 ; fair clean, £29 10s. to £30 per ton ; tow, £10 bo £12. Since then of 140 bales afc public sales only a parb found buyers at £20 ss. for half-dressed, and £30 to £31 10s. for good cleaned ; tow, £11 ss. per ton." Messrs. Richardson, Brothers, and Co., of London, under date to 21sb February, report as follows :—": — " By last mail we informed several of our Colonial friends that the hopes entertained by many of the London ropemakers have not been confirmed by fuller experience. Tho opinion is held that ifc will nob in future command more than abouc £1 to £2 below the price of St. Pebersburgh hemp; ab the present time there is a great revulsion against the New Zealand flax, and a kind of panic prevails, rendering sales at reasonable prices almost impracticable. Attempts have been made in a small model machine to divide the apparently single fibre into several fiae throads, and with some success, for wo have seen some samples which are much finer than thread, aud softer in texture. At present, however, ifc can only be done on a small scale, jost like a chemist's experiment in a laboratory. If it can be done wholesale, and the fibre made available for linon fabrics, the value of the article will be greatly increased. We look for a low price about May and June, when large supplies will be coming in, and for a time it may be almost unsaleable, especially the badly dressed samples. Ultimately we think the bestdressed samples will bring not less than £30 a ton, bufc our rope-makers burn their backs upon samples having much of the husk adhering. In the opinion of the best judges hero there are two or more distinct species of flax (ibis more of the nature of hemp), which have been Benb home from New Zealand, one much better than the other, and softer. Present prices may be quoted at £35 to £38 first qualifcy dressing ; £20 to £25 second qnality dressing." The following is Messrs. Miles and Co.'s market report for 25th February, IS7O :—": — " New Zealand flax has again fallen in value. There is a large stock of aboub 2,000 bales on hand, and bufc few buyers, even ab the presenb decline, which is now fully £15 per ton from the highest point. Present prices : — Rough, half-dressed, £16 bo £18 ; common, £20 to £23 ; fair to medium, £25 to £2S ; good to fine, £30 to £38. It is stated that the large rope-makers are ceasing to use ifc in consequence of the manner in which it is cleaned, the gummy matter being fixed in the fibre rendering it unsuitable for use in salt water. If the flax were cleaned as the natives formerly cleaned ifc, leaving bhe fine white silky fibre free from gum, we believe ib would come into general use." Messrs. Devitt and Hetfc report that about 1 ,300 bales have been offered ab auction, and most importers have been anxious to realise even afc reduced rates, but only a trifling quantity has found buyers. Prices must again be quoted £5 to £10 per ton lower, or about £15 per ton down from late highest rate. Ib is with very greab reluctance that we are compelled to state as our candid opinion that the sanguine hopes which were entertained of the successful competition of this artiole with Manilla hemp, will be disappointed. Our rope makers have given ifc a fair trial, and state most positively that the rope produced is utterly useless for sea purposes, as it will not stand the action of the water. la the manufacture of rope for inland purposes, jute, Bombay hemp, and other low priced fibres are used, so that if a New Zealand ropo is to come into competition, a proportionate price will have to be accepted. In the absence of any other use than rope making, shippers must not reckon on obtaining beyond our presenb quotations. Ib is only from a sense of duty that we give publicity to those remarks, which we are quite aware cannofc fail to cause great disappointment aud annoyance to all concerned. Of course we shall be delighted to have to acknowledge ourselves wrong in this matter, but cannot allow our friends to go on importing without stating our conviction. The buyers who ran up prices, £10 per ton in one day, now acknowledge that they did so in the hope of being able to bring down the price of Manilla hemp, but they acknowledge their mistake, and have offered their purchases for resale, ab a considerable discounb. Messrs. Levin & Co. have favoured the Wellington Independent with the following extract from a letter from Messrs. Armitstead & Co. : — " Within the last throe or four years, this fibre has been brought under our notice afc vai-ious intervals, and ib has been experimented upon by, and occupied the abtention of, several spinners. The result has shown that in the presenb state of preparation, ib is nob adapted for either spinning or cordage purposes. If the flax could be divested of the gum which seems to adhore to it, we believe the fibre would be quite available for spinning into yarns, but in its present state the gum imparts a dryness and brittleness which completely deprive the fibre of any natural strength it would otherwise have. The gum could only be removed from the fibre during the process of preparation, as, after it has been allowed to dry, any attempt to remove ifc would only destroy the fibre."