HISTORY OF THE AMERICAN MENHADEN. 319 



a sbacle below the asking rates, but holders are not shading 40e. on any 

 lot, and most of them ask 4:5c. The Eastern manufacturers have com- 

 bined at 45c., and this lends strength to our market. While the amount 

 of oil held back by the manufacturers is thought to be considerable, and 

 the demand from dealers been small, still there is a feeling that prices 

 are low and likely to advance. The sales are 310 bbls. on spot, at 40c. 

 Boston reports, Dec. 8th: "Menhaden is firmer and sales have been 

 made of about 1,500 bbls. at 40 ® 41c. ; it is now held at 43 <a) 45c. 

 The meeting of the oil manufacturers last Tuesday resulted in holding 

 oil at 45, which they seem determined to carry out. There is to be 

 another meeting next January in New York for the i)urpose of effecting 

 a union with the Long Island and IsTevv Jersey associations, and mak- 

 ing a uniform price among the different cities." 



December 17. 

 Menhaden oil has been more active, and 325 bbls. sold on spot here at 

 40c., and 800 bbls.. to arrive on xiiivate terms. Boston reports, Dec. 15 : 

 "Menhaden remains firm, and sales have been made at 40c. for several 

 hundred bbls. which have been floating about the market. When these 

 lots are closed out it will be difiScult to buy under 45c., a price at which 

 it is held. A sale is reported of 500 bbls. at 42^c." 



December 24, 

 Boston reports, Dec. 22: "Menhaden-oil maintains its firmness, but 

 not many sales have been made. Selleis are holding at 45c., which is 

 above buyers' views." 



December 31. 

 Menhaden oil is not active, but remains firm in price, with not much 

 coming forward. What action the fishermen may take at their aieet- 

 ing next week is not known, but the effect is certainly depressing. 

 There have been sales since our last of 200 bbls at 40c., and today 80 

 bbls. at 40c. Boston reports: Dec. 29th, "Menhaden quiet; there does 

 not seem to be any inclination on the part of buyers to pay the prices 

 asked by sellers, and with the close of the year parties have no disposi- 

 tion to increase stocks. Sales have been very limited." 



1874. 



January 7. 

 Menhaden oil is quiet, but steady. Arrivals light. Last sale 140 

 bbls., at 41c. 



January 14. 

 Menhaden oil is higher since the meeting of the manufacturers last 

 Wednesday, and there are buyers at 42 Jc, and it is rumored that 43c. 

 has been bid. There have been other sales than those we report, but 

 they are for the present kept private; we note 175 bbls. on private 

 terms; 100 bbls., at 42^c. ; 50 bbls., at 42^c.; 4,000 gallons in Boston, 

 and 50 bbls. pressed oil here, on private terms. 



