THE WHALE FISHERY. 157 



The fleet in the Arctic Ocean the past summer met with good success during the latter part of the season, fifteen 

 ships taking an aggregate of 17,480 barrels of oil and 189,500 pounds of bone, being an average of 1,165 barrels of 

 oil and 12,033 pounds of bone, about double that of the previous year. Three vessels on Kodiak and in Bristol Bay 

 took '.2,625 barrels of oil, an average of about 875 barrels each, and 7,667 pounds of bone. 



The (Vhotsk Sra whaling was a failure, nine vessels taking unitedly but 2,805 barrels of oil and 34,600 pounds of 

 bone', the whales, lonnerly plenty in that locality, apparently having been exterminated or gone to other parts. 

 Although occasionally a season iu the Arctic Ocean is partly a failure, judging from the present and past it would seem 

 reasonable that a moderate number of ships could continue to prosecute their voyages in that ocean for many years to 

 come, and considering the advancing price of the products obtained, particularly of whalebone, we do not believe our 

 merchants will allow this branch of our business, once so remunerative, to be entirely given up. 



Might whaling on Desolation and the Crozottes has been neglected during the past year, and the number of ves- 

 sels in Cumberland Inlet and Hudson Bay has been very small, with a moderate catch. 



Iluitipb.-icking has been prosecuted on the coast of South America, in Panama Bay, about the islands of the South 

 Pacific Ocean, and on the coast of Africa, with about the usual success. 



Sperm whaling has made rather a better exhibit than for two or three years previous, although good catches 

 have been confined rather to certain localities, than general throughout the different oceans. The best account came 

 to us from the North Atlantic, where a number of vessels took large fares, while many others on the same or adjacent 

 grounds were not fortunate in finding whales, the distribution of catches being quite unequal. On the west coast of 

 South America and the oil-shore ground whales seem plentier again and vessels have done well. In the South 

 Atlantic and in the Indian Ocean the fleet have met with average success, while on New Holland and the grounds iu 

 that vicinity whales have been unusually scarce. New Zealand has yielded but poorly during the past year, and 

 but few vessels in that locality are doing well, which leads us to remark that at present there appear to be no whal- 

 ing grounds that will support a large fleet for any great length of time; and in this respect our errors in the past 

 should be guides for our future. 



The fleet during the coming year will be distributed nearly as follows : North and South Atlantic, 68 vessels ; 

 Indian Ocean, 17 vessels; Pacific Ocean and New Zealand, 33 vessels; Cumberland Inlet and Hudson Bay, 4 vessels; 

 North Pacific, 18 vessels. 



The demand for oil and whalebone has continued good throughout the year, the markets having been without 

 marked fluctuations, and with prices slowly but steadily advancing. With an increased importation of sperm oil 

 during the coming year it would be natural to look for a decrease in price, but whale oil, considering the present 

 prospects of lard and other oils, seems quite low ; while whalebone, with a constantly reduced importation, ought to 

 command good figures. 



The price of sperm oil January 1, 1874, was $1.50, having been depressed by the recent panic. It rapidly recovered, 

 however, and in a few weeks advanced to $1.67^ (the highest prices for the year usually prevailing about that time), 

 dropping to .$1.60 in April, continuing to decline till June, when it reached $1.50. During the remainder of the year 

 its course was gradually upward, standing at $1.57 in August, $1.6'2J in October, and closing the year at $1.70, the 

 highest price reached since the mouth of October, 1869, a period of more than five years. 



Whale oil opened the year at 61 cents for Arctic, slightly declining during the summer months, and closed the 

 year at li?^ cents, at which price it would be difficult to purchase. 



Humpback and South Sea oil during the year have varied from 54 @ 64 cents, closing at the latter figure. 



Whalebone opened at $1 $1.10, continued firm throughout the year, and advanced during the fall months to 

 f 1.25, which price is still maintained. 



It will be seen by our last annual review that our estimate of importations for 1874 approximated to the result, 

 except in the quantity of whalebone, caused by shipments overland during the month of December (about 85,000 

 pounds), and received here in advance of the usual time. 



TRADE REVIEW FOR 1875. 



7iVnric of the whale fishery for 1875. The year just closed has been quite free from disasters to the fleet at sea, and 

 no great changes have taken place in the business. Gains and losses have been about equally divided, the arrivals at 

 this port during the year showing eighteen voyages that were fairly profitable and sixteen that resulted in quite a 

 large average loss, but with a revival of business throughout the country we anticipate better results in the future. 



Of the eighteen vessels iu port at New Bedford January 1, 1875, sixteen have beeu fitted for whaling and two 

 are now in port. Of the ten whalers now in this port eight will probably be fitted during the season, and of the 

 t wenty-live vessels to arrive here this year nearly all will go to sea again. Some vessels may possibly he added to the 

 licet from the merchant service; but as such ventures are attended with so heavy an outlay for repairs, alterations, 

 and whaling inventories, it is not probable that many such additions will be made. 



The present whaling fleet is 169 vessels, against 163 January 1, 1875, 171 iu 1874, and 203 in 1873, and the number 

 at sea January 1, 187G, was 137 vessels, against 119 a year ago, and 123 in 1874. Any further increase in the fleet must 

 necessarily result iu lower prices for oil. 



Right whaling makes a good exhibit for the year, vessels in the Arctic Ocean having been very successful, thirteen 

 vessels taking 18,000 barrels whale and walrus oil and 180,030 pounds whalebone, an average of 1,38-1 barrels oil 

 and 13,848 pounds of whalebone. Three vessels on Kodiak and Bristol Bay took 3,980 barrels whale oil and 45,430 

 pounds whalebone, thus making for the fleet an average of 1,374 barrels whale and walrus oil and 14,091 pounds of 

 e, the lar:j> ;e oi'anv season since the j 



