156 HISTORY AND METHODS OF THE FISHERIES. 



Sperm whaling has had hardly a better average result than right whaling, but while its catches are perhaps less 

 in value, its expenses of continuing a voyage are also less. In the North Atlantic many good fares were taken, the 

 largest being about 300 barrels, whereas in former years 500 to 700 barrels have been reached in a single cruise. In 

 the South Atlantic less oil has been taken than formerly, though several good catches were made, one vessel taking 

 600 barrels in sis weeks. In the Indian Ocean and on New Holland, with few exceptions, the whaling has been slim ; 

 whales were quite plenty early in the year, but the weather was bad ; for the greater part of the year but few whales 

 were seen. The New Zealand ground has been dry and deserted by whales, only a few ships having done fairly, while 

 one or two have been fortunate in seeing and getting them. The fleet is small there. The West Coast has but few 

 sperm cruisers there, and several have done quite well, others poorly. The bark Courser, with 700 barrels of sperm 

 oil on board, was run down by an English steamer. 



All around, the sperm-whaling grounds have not been np to former years in takings, and it would seem that a 

 small fleet does not increase the chances of a great catch. At present prices for sperm oil, say $1.50, we think sperm 

 whaling will outlive all other kinds, though even with a reduced catch we find a reduced consumption. 



The fleet for the coming year will be distributed about as follows : North and South Atlantic, 50 vessels ; Indian 

 Ocean, 17 vessels; Pacific Ocean, 31 vessels; Hudson Bay and Cumberland Inlet, 3 vessels; North Pacific, 27 vessels. 



The demand for sperm oil was good during the year. The import exceeded but very little the highest estimate, 

 and by reference to the comparative statement of consumption of oils, it will be seen that the supply was 53,300 barrels, 

 against 59,700 barrels in 1872, and that the home consumption was equal to that of the preceding year, while the 

 export fell off about 8,000 barrels, a little more than the reported decrease in consumption of this kind of oil in the 

 United Kingdom. The price opened at $1.50 and advanced to $1.57 in February, fluctuated between $1.52 and $1.55 

 until May, after which it gradually declined until June, when it touched $1.40, and remained steady until the middle 

 of August, when it advanced to $1.45 $1.50, remaining at these figures until October 1, when, under the pressure of the 

 panic, a small parcel of ordinary oil was sold at $1.31, but upon the return of an easier money market in November sales 

 were made at $1.39 <2> $1.42, and in December at $1.50, with a good demand and closing firm at this price. 



The demand for whale oil seems to be affected by the large supply of other cheap oils, such as menhaden, cotton- 

 seed, and petroleum which is unprecedeutedly low. The home consumption was about 9,000 barrels less thau in 1872, 

 while the average price was lower. There has been very little life to the market, the cheap oils, such as humpback 

 and South Sea, seem to bo preferred at the lower prices which they can be bought at, Arctic of good quality being 

 neglected in consequence, the rule seeming to be that the poorest oil is sought at'trr In-causo of the low prices. A 

 demand sprung up at the close of the year for the cheaper oils, humpback, South Sea, and coast for export, 50 cents 

 per gallon being paid for all qualities, in or out of bond, and the same price was offered for the poorest Arctic oil, but 

 no sales were made. The year opened at 68 cents for Arctic and cents tor humpback, the market being steady 

 until June, when 63 cents per gallon was the quoted pric for Arctic, at about which the market ruled the rest of the 

 year. The price for humpback ranged from 55 < 60 cents per gallon during the year for manufacturing. The stock of 

 this kind of oil on hand January 1, 1874, was about 2,000 barrels. The export the past year was 2,150 barrels, against 

 1,500 in 1872. 



Whalebone opened at $1.15, currency, with a good demand, which continued into February and March, with a 

 slight reduction to $1. 10, currency, ruling at this price until May, when the demand was good at $1.08 @ $1.12, currency, 

 for Aetic, and 95 cents for South Sea. During the summer months the demand was good, sales reaching in August 

 51,000 pounds, when the price advanced from $1.08 to $1.20, currency; for the remainder of the year the demand was 

 light, and prices receded to $1.10, currency, for old, and $1 for new Arctic. The home consumption was very good, 

 reaching 155,000 pounds, against 74,500 pounds the previous year. The Scotch whalers did very well taking bone the 

 last season, and the entire import has been sold, showing the trade in this article in England and on the continent to 

 be in a healthy condition. About 25,000 pounds of new unculled bone, including 10,000 pounds Japan Sea bone, was 

 sold in San Francisco at 87^ cents, gold, per pound for export. 



TRADE REVIEW FOR 1874. 



Review of the whale fishery for 1874. Although the past year has not been one of large profits to our whalemen, we 

 are able to state to-day that the business wears a more cheerful aspect, with a promise of a brighter future. 



The number of profitable voyages arriving was not greater than during the previous year, but, with better prices 

 prevailing, a more hopeful feeling lias been engendered. 



The decrease of the fleet (about 3,400 tons during the year) is gradually resulting in a better average catch, 

 experience showing that any decided increase in the number of vessels engaged in the business must eventually 

 bring about lower prices and small average catches. 



Of the twenty-five vessels in the port of New Bedford January 1, 1874. three were sold, fourteen fitted for whal- 

 ing, and eight still remain in port, of which five are for sale. Of the seven at New London January 1, 1874, four 

 have been sold for whalers and three are still in port. Of the nineteen whaleis now in this port thirteen will prob- 

 ably be fitted before the close of spring, and of the thirty-five vessels to arrive in 1875 nearly all will be sent to sea 

 again. 



The absence of any unusual features in the business is noticeable. There have been but few losses at sea, and 

 vessels in the Arctic regions have been quite free from disasters. 



Our present fleet is 103 vessels, agaiust 171 a year ago, 203 in 1873, and 218 in 1872, and the number at sea January 

 1, 1875, was 119 vessels, against 123 a year ago and 155 in 1873. 



