HISTOEY OF THE AMERICAN MENHADEN. 333 



little oil, which is of only fair quality. The tanners are very dul], and 

 couseqnentiy the consumption of such oils is very light; and dealers 

 report a very dull trade in tanners' oils. Owing to this fact, unless we 

 have an export demand, prices will have to rule very low. Most of the 

 dealers carry a good stock. Sales during the iiast week that we have 

 reported to us are 4G bbls., at 3Gc. ; 24 bbls., at 36c. ; 28 bbls., at 37c. ; 

 and CO bbls., at 37^c. l!fo sales of cod to report. 



June 23. 



Menhaden is quiet; the demand is light, but there is not much coming 

 forward. The tish are uncertain and the yield small. We hear of a 

 sale for export of 125 bbls., at 36c. ; 200 bbls. for home use, at 37c.; 29 

 bbls., at 37c. ; 07 bbls., at 38c. ; and 50 bbls., at 36c. 



June 30. 



Menhaden is dull here, as the demand for tanners' oils is very light. 

 Prices have declined ; and sales have been made of 160 bbls., at 35c. 

 and 100 bbls., at 35^c., both cash. The fishermen are doing fairly, and 

 unless we have more home trade, we will have to look to foreign mar 

 kets for an outlet. We hear that some orders are in the market now 

 and that one party is busy filling quite a large one which has not been 

 reported. 



July 7. 



Menhaden rules quiet and steady at 35c., with some export demand 

 at this price. The lots which come to hand and sold are 00 bbls., 30 

 bbls., 25 bbls., 50 bbls., 100 bbls. ; part of the last two brought 36 <a) 37c. 

 from a consumer and part for export. 



July 14. 



Menhaden has come to hand in fair quantities, and is taken by home 

 and export buyers at 35c. for good oil, which seems to be the market 

 price, buyers being unwilling to pay more and sellers refusing to take 

 less. The shipments of over 1,000 bbls. to Glasgow last week are said 

 to have been pressed Maine oil, and sent on owners' account. The 

 sales here have been 350 bbls., in lots, for export, and 490 bbls. for home 

 use. all at or on a basis of 35c. 



July 21. 



Menhaden is quiet at 34© 35c. Following our last, there were two 

 lots of oil offering to arrive — one from Maine, of about 500 bbls., and 

 one of about 150 bbls., Western. A bid of 35c. was asked for these and 

 could not be had in this market, and then 34^c., cash, would have 

 bought. Indeed, the market was weak, owing to a decline of £2 per 

 ton — the market being now £33 — in London, and a falling off in the 

 price of gold here, which caused shipping limits to be reduced to about 

 34 c. At the same time there were two home buyers ready to take 

 small lots of nice oil at 35 c. on the spot, but their requirements would 

 be supplied with a very small quantity. On Thursday the Maine oil on 

 the way to this market was disposed of to a ]^ew Bedford refiner at 35c., 

 and since there have been the following sales : 200 bbls., on spot, at 

 34.^c.; 500 bbls., to arrive, at 34ic. ; 50 bbls., on spot, at 35c.; 50 bbls.. 



