THE WHALE FISHERY. 149 



The Cumberland and Hudson Bay fishery was very unsatisfactory, but one fair catch having been made of 650 

 barrels, after an absence of nearly eighteen months. Of the six vessels wintering there, five are owned at New 

 London, the other at this port. The brig Oxford, of Fairhaven, was totally lost in the inlet, and the hark Odd Fellow, 

 of New London, on her passage to the inlet. 



The Desolation sea-elephant fishery has been satisfactory to those who have pursued it, it heing a specialty at 

 New London. 



The Tristan, Crozettes, and Desolation grounds were visited by several of our whalers last winter, where they 

 found few whales and bad weather, and in two instances only were good catches made. 



The fleet the present year will be distributed about as follows: In the North and South Atlantic, 125 vessels; 

 Indian Ocean, 41 vessels, and Pacific Ocean, 65 vessels, making 231 vessels, which are chiefly sperm whaling. In 

 Hudson Bay and Cumberland Inlet, 6 vessels; on Desolation, ek'phanting, 5 vessels; and in the North Pacific, 44 

 American and 7 foreign vessels, a total of 62 vessels, exclusively right whaling. There are 13 vessels outward bound, 

 and 11 homeward bound ; and of the number to go north the^omtng^Beason, 18 vessels will be on the fourth, fifth, 

 and sixth seasons, OKI unusual number, involving a larger outlay than if fitted at home ports. 



The year opened with a good demand for sperm oil at $1.75, and rose before the close of January to $2, and the 

 market continued steady into June, when the price gradually receded to $1.75, after which there was a steady decline 

 to the close of the year, sales being made at $1.55 per gallon. 



Whale oil opened at $1 per gallon, and rapidly rose to $1.20, when, upon the spring arrivals with a large snpply, 

 the price gradually receded to $1 and $1.05, for northern, at which price it continued steady until the fall months, 

 when it further receded to 85 @ 90 cents, which were the ruling prices at the close. 



Whalebone opened at 75 cents, gold, for new, and 80 cents, gold, for old, Arctic, with considerable sales, and 

 promptly advanced from 85 cents to $1, gold, early in March. During the summer months the market remained steady, 

 at about $1.30, currency, until October, when sales were made at $1, gold, for Arctic, and 82 83 centa, gold, for 

 South Sea. Since then there has been a general decline, closing at 85 cents, gold, for Arctic, and 75 cents, gold, for 

 South Sea. 



The Ensjlish review of their oil market for 1869 is encouraging, as it foreshadows a good demand for our staples. 

 At the commencement of the year the stock of sperm oil was 5,300 barrels, and there wag in transit from this side 

 10,000 barrels, whereas at the opening of this year their stock was hut 6,000 barrels and nothing going forward. The 

 import into London in 1869 was 7,200 barrels from the colonies and 25,500 barrels from the United States, a total of 

 32,700 barrels, all of which was cleared for consumption excepting 700 barrels. The information received here from 

 their colonies as well as the Talcahuauo fleet (from which they have drawn considerable supply) lead us to believe 

 that their increased supply for the past two years of colonial oil cannot be relied upon for the future. About 4,500 

 barrels whale oil were imported during the year, and the market closed very firm at 39 @ 40 per tun, with hut 

 little remaining in first hands. We think we can safely anticipate a good demand for sperm oil the present year. 



The imports in 1869 were 47,936 barrels sperm, 85,011 barrels whale oil, and 603,603 pounds bone, against 47,174 

 barrels sperm, 65,575 barrels whale oil, and 900,850 pounds bone in 1868, showing a marked increase in whale oil, 

 owing to the sending home of oil taken in previous years, but a decrease in whalebone of about one-third. 



The exports in 1869 were 18,645 barrels sperm, 3,842 barrels whnle oil, and 311,605 pounds bone, against 18,619 

 barrels sperm, 9,885 barrels whale oil, and 707,882 pounds bone in 1868, showing a large decrease in whale oil and 

 whalebone. 



The home consumption of sperm oil in 1869 was 17,239 barrels, of whale oil 56,236 barrels, and of whalebone 

 197,098 pounds, when in 1868 it was 19,055 barrels sperm, 72,390 barrels whale oil, and 246,968 pounds whalebone. 

 The decrease in the consumption of whale oil was consequent upon the large import (and consumption) of seal oil, 

 which we have reason to believe will not be repeated. 



The stock of oil and whalebone on hand January 1, 1870, was 25,052 barrels sperm, 41,633 barrels whale oil, and 

 294,900 pounds whalebone, against 13,000 barrels sperm, 16,700 barrels whale oil, and 200,000 pounds whalebone same 

 time in 1869. 



TRADE REVIEW FOR 1879. 



Review of the whale fisliery for 1870. The year 1870, like its predecessor, has been one of poor retnrns to those engaged 

 in the whale fishery. The prices for our staples, which at the opening were considered unremunerative, steadily 

 declined throughout the year, closing at the lowest quotations of any year since 1861. The decline in sperm oil was 

 owing to the limited consumption of the article, together with a large stock on hand at the beginning of the year, and 

 the unexpected large import, being about 10,000 barrels in excess of the estimate for the year, while whale oil and whale- 

 bone were similarly effected by the introduction largely of cotton -seed oil, and a closed foreign market, caused by the 

 European war, to which we export largely, especially of bone. We note that while the importation of seal oil has been 

 retricted by a higher tariff, that cotton-seed oil has stepped into its place, and claims its share of consumption, which 

 is by no means limited, 75,000 barrels, it is estimated, having been marketed the present year. But few of the returned 

 whalers made profitable voyages, whereas most of the voyages were unremnnerative, and many very much so. 



Because of the poor results and low prices, combined with the high cost of outfits, many were deterred from fitting 

 out their ships again, and the fleet at home ports on the new year was largely in excess of former years. Our mer- 

 chants do not look upon the future of whaling with encouragement, and seem disposed to distrust it as to its pecu- 

 niary results, induced more by extraneous causes than inherent, having to add to the list of competitors lard, petro- 

 leum, and seal oil, that of cotton-seed oil, said by its advocates to be but in its infancy. 



