160 HISTORY AND METHODS OF THE FISHERIES. 



TRADE REVIEW FOR 1878. 



Kevietc of the whale fishery for 1878. The result of the year's business Is far from being satisfactory, the catche* of 

 the fleet having been moderate and the prices of oil low. Of the vessels arriving during the year a majority had taken 

 too small a quantity of oil to reimburse their cost even at higher prices, and those which brought good voyages netted 

 but little profit to their owners. The number of disasters to the fleet has not been large, good weather having gen- 

 erally prevailed except in the North Atlantic Ocean, where, during the past few months, storms have been unusually 

 severe. The new vessels added recently have improved the general character and average quality of whale ships, 

 but it is to be regretted that so many vessels in an unseaworthy condition are sent out upon whaling voyages. 



The whaling fleet at present numbers one hundred and eighty-six vessels, against one hundred and eighty-seven 

 a year ago, and one hundred and seventy-two in. 1877. The increase during the past four years has resulted in losses 

 to those engaged in the business, and the average catch on the different grounds has been sensibly diminished, while, 

 to add to the existing depression, there has seemed to be almost a rivalry as to whom shall oftenest ship home their 

 oil, and thus assist in reducing prices already too low. 



The results of sperm whaling have not been encouraging. With too large a fleet on nearly all the grounds, catches 

 have everywhere been small, with the exception of a few good fares in the high latitudes of the North Atlantie, and 

 off Patagonia on either side of Cape Horn. The total amount of the catch reported during the year is several thou- 

 sand barrels less than during 1877, and it is evident that with the continued scarcity of whales there must be a large 

 reduction in the fleet to make the business profitable. 



In right whaling, although the amount of oil and bone taken was not large, the result has been better on account 

 of the unprecedented high price of whalebone. The Arctic Ocean fleet lost but one vessel, and averaged 856 barrels 

 of oil and 7,322 pounds of whalebone. Whales were not abundant, but, considering the varied character of the differ- 

 ent seasons, it may be presumed that, with occasional fortunate years, whaling in that ocean will continue to be 

 profitable. South Sea right whaling is attracting increased attention, and there is no reason why the Antarctic 

 grounds should not be compelled to disgorge their valuable stores of whalebone. We expect during the next decade 

 to see profitable whaling grounds brought to light in the high latitudes of the south, and success reward those who 

 are pioneers in the enterprise. A number of whalers are wintering in Hudson Bay and Cumberland Inlet, several 

 of which cruised off Greenland for right whales during the summer, but without success. No doubt whales will yet 

 be taken in great numbers around Spitzbergen and Nova Zembla, where the English and Dutch ships took such large 

 quantities of oil and bone during the early part of the present century, and the field remains open for those who will 

 assume the risk. Many vessels have been hnmpbacking during the year on account of the unusually low price of 

 sperm oil, and have met with fair success. 



We are pleased to note an increased traffic between New Bedford and the Azores, but regret to learn of greater 

 stringency at those islands in the enforcement of tobacco regulations. When ships are detected in smuggling it is 

 but just they should pay the penalty attached, but it seems a relic of by-gone ages to subject inoffensive vessels to a 

 rigid search for tobacco, and to impose heavy fines on such as are found with small quantities in the possession of the 

 crew, for which the master cannot be accountable. If such arbitary measures are persisted in, our whalemen will 

 seek other ports for the transshipment of their oil and the recruiting of their vessels. 



There has been no great change in the consumption of oil, the usual quantities having been consumed in this 

 country and in Europe. In San Francisco there appears to be an increased demand, and all the importations through 

 that port, both sperm and whale, find a ready sale. 



The demand for sperm oil and whalebone has been good throughout the year, while whale oil seems to be 

 neglected. 



Sperm oil opened in January at $1.03| per gallon, declined to 94 cents in April, 86 cents in June, advanced to 90 

 cents in July, and 92 cents in August, declined to 86 cents in September, 82 cents in October, and 80 cents in Novem- 

 ber, and advanced to 85 cents in December, closing the year with 87 cents offered, with no sellers under 90 cents. The 

 price touched in November, viz, 80 cents, was the lowest known for thirty-five years. 



Arctic whale oil opened the year at 60 cents, gradually declining to 39 cents at the close. South Sea and hump- 

 back oils have been quoted generally at about 5 cents per gallon less than Arctic. 



The price for whalebone is without precedent. Opening the year at about $2 per pound for Arctic, it declined 

 to $1.65 in February, from which figure it steadily advanced, closing in December at $3.25. South Sea whalebone has 

 commanded about two-thirds the price of Arctic. 



Referring to our estimate of imports for 1878, it will be seen, especially in sperm oil, that our calculations were 

 correct, the predictions of dealers and correspondents in neighboring cities to the contrary notwithstanding. We 

 find it more difficult than usual to calculate the importation for 1879, as the expressed determination of many of our 

 merchants to retain sperm and whale oil on board their vessels, because of the low price at home, may possibly result 

 in reducing the importation below our estimates. At the close of 1878 the quantity of sperm oil landed at the Azores 

 and in transit was about the same as a year ago, viz, nearly 4,000 barrels. The import of whale oil for 1879 will be 

 lowei- than in any previous year, on account of the sale at San Francisco of about one-half of the catch of the Arctic 

 fleet. 



TRADE REVIEW FOR 1879. 



Review of the whale fishery for 1879. The past year has not been marked with any unusual features, except the 

 low prices of oil that have prevailed. More than the ordinary number of disasters has occurred, but no serious 

 calamity has overtaken any special portion of the fleet. Of the arrivals, several have taken good cargoes of oil, bnt 

 the majority have done poorly. 



