HISTORY OF THE AMERICAN MENHADEN. 315 



July 30. 



Menhaden oil rules steady at 40c., with not much coming in. The in- 

 creased facilities which the fishermen have tliis season have been of 

 little account thus far, the oil made being less than at the same time 

 last year; still the fish yield fairly, and if they were abundant the pro- 

 duction would be very large. Dealers have bought very sparingly, as 

 their trade has been small, and the price has steadily declined since the 

 new oil made its appearance! Exporters could aflbrd to pay the present 

 price if freights were not so unusually high, and with lower freight-rates 

 a good demand may be looked for from this source. How much the 

 large seal catch will interfere with a market for this oil is not known yet, 

 but should the catch of menhaden be large, oil would have to sell at 

 such a price as would be paid by a foreign market. At what price our 

 home dealers would be willing to stock up it is difficult to tell, they 

 having different views as to future prices ; but at the present all buy 

 only sufficient to supply their present wants. Sales are 300 bbls. at 40® 

 41c., the highest price last week. 



August 6. 



Menhaden oil has not come in very freely; all told, i^erhaps 400 lbs. for 

 the week, 200 of which sold for home use on private terms, and the bal- 

 ance shipped. 



The price remains steady at 40 ® 41c., and there is a difference of 

 opinion as to whether the oil is held back or whether the factories are 

 making but little ; most of the trade are of the former opinion. Boston 

 reports, Aug. 4, says: "Menhaden oil: some sales have been made a,t 

 45c. for small lots, but the Maine manufacturers are firm and intend 

 putting their price at 50c., and holding. Eeports are conflicting in rela- 

 tion to the catch ; do not think from all accounts that there will be as 

 much oil as last year." 



August 13. 



Menhaden oil has not arrived freely, and is, consequently, a trifle 

 firmer ; the catch of fish is unusually small and the yield is only one and 

 a half gallons per thousand. There have been sales here of 600 bbls. 

 at 40 © 41 Jc. as to quality, the market closing i^retty strong at 41c. for 

 nice oil. The Boston market is higher. Boston reports, Aug. 11, say : 

 " Menhaden oil : there has been a sale of 500 bbls. at 45c., and the manu- 

 facturers have agreed to hold price at 50. Most of the Maine oil is being 

 shipped to New Bedford, and parties make advances, which satisfies the 

 manufacturers. By this means they will keep oil up to 50c." 



August 20. 

 Menhaden oil is firmer, owing to small arrivals and a light stock in 

 the hands of jobbers. The combination in the East also has a tendency 

 to stiffen prices here. The fish are now reported very fat, yielding 10 

 to 12 gallons per thousand, but the catch is small. Sales 250 bbls. at 

 41^c. At the close there is none offering on spot, and one lot to arrive 



