THE WHALE FISHERY. 161 



The continued depression in whaling interests li:is at length been checked by the retirement of a large number of 

 vessels, now lying at our wharves, assisted by the general revival of business throughout the country, and it is possi- 

 ble that with a moderate number of vessels engaged whaling may again become fairly profitable. 



The business, however, is subject to many serions drawbacks, some of which, if not corrected, bid fair to impair 

 its success. Chief among these are the influences at those ports where officers and crews are constantly leaving ves- 

 sels, causing a large expense in replacing them, and the frequency with which officers are sent out to join ships during 

 their voyages indicates that the control of a whaleship is only to a limited extent in the hands of its owners. Bj 

 united action among our merchants it is possible to check these disorders, and protect themselves against the losses 

 occasioned by wholesale desertion from whaling vessels, which is too often fostered by those who are in duty bound 

 to act otherwise. San Francisco being a port of discharge, the above would not apply to the Arctic whalers visiting 

 that port. 



The present whaling fleet consists of one hundred and seventy-eight vessels, against one hundred and eighty- six a 

 year ago, one hundred and eighty-seven in 1878, and one hundred"an6TBeventy-two in 1877, showing a considerable 

 net increase during the past few years. 



Sperm whaling has not been attended with great success, the whales being scarce on nearly every ground, owing 

 to the size of the fleet. No very large catches have been obtained, the best fares, perhaps, having been taken in tb/j 

 South Atlantic, off the coast of Africa. 



Eight whaling has yielded better results, the Arctic fleet averaging 951 barrels of oil and 11,000 pounds of whale- 

 bone, the best exhibK for many years. One vessel was lost, and two others are supposed to be frozen in the ice. 

 Even should these vessels be lost no apprehensions are felt for the safety of those on board, as they are commanded 

 by experienced Arctic navigators, who are equal to almost any emergency, and the near presence of the exploring 

 steamer Jeannette is an additional safeguard. In the South Atlantic the fleet met with fair success, as did also some 

 of the vessels in Hudson Bay and that vicinity. Humpbacking has been followed with average success, and is at 

 present in better favor on account of the high price of the oil. The price of whalebone has stimulated both northern 

 and southern right whaling, of which many vessels have availed themselves to their advantage during the continued 

 scarcity of sperm whales. 



The export of sperm oil has lallen off the past year, principally owing to the large purchases the previous year, 

 1879 opening in England with a stock of 20,000 barrels and about 7,000 barrels then being in transit. Of the 35,000 

 barrels estimated to arrive the coming year, it is probable the greater portion will be needed for home consumption. 

 During the fall, when the price remained at 71 cents per gallon, our manufacturers purchased freely, it being very 

 evident that it must advance in sympathy with other merchandise, and they were rewarded for their enterprise by 

 largely increased sales to consumers at better rates. 



Sperm oil opened the. year at "JO cents per gallon, advanced to 94 cents in February, and from that time gradually 

 declined to 70 cents in September, remaining at those figures during that month and through October, advancing in 

 November to $1 and closed the year with offers at an advance on the latter figure, holders, however, asking from $1.05 

 to SI. 10. 1'resent prospects point to a gradual advance during the year, and as it has been proved that the oil cannot 

 be produced at a less cost than A 1.25 per gallon, owing to the heavy advance in the cost of outfits, owners of vessels 

 arriving will not incline to send them to sea again unless they are, confident a paying price can be obtained. 



The present stock, consisting of about 1(>,000 barrels, a portion of which is of inferior quality and unsuitable for 

 export, is probably sufficient to supply the demand until the new oil commences arriving in May, being at a period 

 rather later than usual. 



Arctic whale oil opened the year at 38 to 40 cents per gallon, at which figures it remained until October, when a 

 gradual advance in oils having taken place, quotations gradually rose to 55 60 cents at the close of the year, there 

 being no stock on baud except some lots that have remained on our wharves many years. 



South Sea and humpback oil opened in January at :!5 cents per gallon, declined to 32 cents in June, gradually 

 rose to 40 cents in October, to 50 cents in November, and 59 cents in December, closing the year at the latter figure, 

 a most gratifying fact after the depression of the last two years. 



Arctic whalebone from $3.25 per pound iu January, declined to :i in March, $2.50 in June, $2 in September, and 

 to $ 1.90 in November, advancing iu December to $2.25, at which price purchases could not be effected at the close of 

 the year. South Sea whalebone from about $2.50 per pound in January, declined to 1.70 in June, $1.50 in September, 

 and then advanced, closing the year with sales at $1.90 per pound. 



Referring to our estimate of imports for the past year, our calculations were correct aa regards sperm and whale 

 oil. The importation of whalebone slightly exceeds our limit, it being difficult to foresee the success of the Arctic 

 fleet. 



TRADE KEVIEW FOB 1880. 



l;<-riei of the wliale fiulienj for 1 880. The year 1880 will be long remembered as a remarkable period in the business 

 enterprises of the country, and although the wave of prosperity that has swept over the United States has not 

 placed whaling intercsls in a profitable position, we cherish the hope they may yet bo benefited. 



The business lias been, to a certain extent, changed during the past two or three years by the constant retirement 

 of vessels, of which twenty-eight now lie at our wharves and a lew others have been sold. Of the number to arrive 

 the, present year many will be retired, and the fleet bids fair to be much reduced. Right whaling is now the order 

 of the day, as its prospects appear better than catching of sperm oil at present prices, and if the sperm whales are 

 neglected for a time, who knows lint that we shall find them after a while as abundant as a few years since. 



SKO. v, VOL. ii 11 



