NEW ZEALAND PHORMIUM HEMP.

Taranaki Herald, Volume XX, Issue 2045, 13 November 1872, Page 2

NEW ZEALAND PHORMIUM HEMP.

We regret to say that daring the past month the market for this fibre has not been supported, prices having given way abont£2 per ton, chiefly owing, we thing, to the desire of some holders to realise at whatever prices buyers might bo prepared to offer rather than impart a firmer tone to the market by holding back sopplies. This coarse of action was first evinoed on 22nd ultimo, when 316 bales were moved off by auction at a decline of £1 per ton. In the following week 216 bales were catalogued for the public sale : of these only 164 bales were aotnally offered, and nearly all bought in. The bulk was subseqoently disposed of by private at lower rates. On the 11th instant the auctions consisted of 1,020 bales, of which only about 500 bales found buyers at and after sale, business having been done at a further reduction of £1 per ton, medium to good medium partly dressed fotohing £30 to £33. and good to fine £34 ss. to £35 per ton. The state of the market for other fibres doubtless still continues to have a prejndicial effect on New Zealand hemp, and there appear to be no export orders on hand for execution. Apart, however, from these two causes, there seems to be no reason why the demand for the arliole should still farther fall off. The following is the statement of stocks, landings, and delireries, aooording to returns prepared to the 31st ultimo :—: — r 1871. 1872. Stock, August 31 801 tons „. 215 tons Landings, Jau. to Aucf. 31 ... 1,822 tons ... 734 tons Deliveries, Jan. Ito Aug. 31... 1,935 tons ... 1,200 tons Landed durine Aaeas fc » 1872, 20 tons ; delivered during August, 1872, 59 tons ; 22 tons have since the passed for export to New York, and importations amounting in all to 1,156 bales have been received.