( XXV ) 
and dealers, owing to the keen competition, did not get sufficient 
profit on their purchases to cover all the risk and the working 
expenses. The arrivals from the continent of Europe were as large 
as in the previous year, but jirices, on the average, were about 6s. 
to lOs. per cwt. lower during the season. There have been again 
great complaints of the non-keeping quality of Estate butter, 
owing, it is believed, to the new centrifugal process introduced 
into Denmark and Sweden, whereby a larger outcome of butter is 
given at the expense of quality. Much of the Kiel and Mecklen- 
burg butters, too, had too much milk in them, and became very 
aoon mouldy and green. Danish and Swedish factory butters were, 
as a rule, improved in quality, and kept much better than the 
Estate productions. The shipments from America were larger 
than last year, and, on the whole, as long as the trade lasted, left 
a fair profit ; but, as prices have now advanced so much in New 
York, importations have almost ceased from there for the season. In 
Irish butter only a moderate business has been done. All secondary 
kinds of continental butters have been greatly interfered with by 
butterine, which has been largely imported here, chiefly from 
Holland. The article is wholesome, and for some purposes very 
useful ; but it is to be regretted that it is not sold for what it really 
is. The direct arrivals for the past year into this port are as 
follows: — From Denmark, Sweden, and Hamburg, 92,196 casks; 
from Holland (principally butterine), 191,286 firkins. 
Foreign Bdtter. — The tiade in these descriptions has again 
been an extensive one during the year 1883, and fully up to the 
average of former seasons, although prices, the same as those for 
Irish, have been comparatively moderate. The top point for 
Dutch butter was 134s. to 150s. in January and February last, from 
which rates there was a rapid and continuous decline until the 
beginning of June, when the quotations were only 95s. to 100s. ; 
but a stronger demand arose in the two following months, and 
in August llGs. to 120s. were obtained. Later on, an additional 
rise took place, and the closing rates were 124s. to 136s. per cwt. 
First and second qualities of Normandy butter at the commence- 
ment of the year were worth 100s. to 150s.; but general depression 
setting" in by the month of June, not above 90s. to 114s. were the 
prices then. In the subsequent months, however, as arrivals 
diminished and holders were less anxious sellers, they rose to 100s. 
to 120s.; again, in the autumn, to 110s. to 132s.; and finally, in 
November and December, to 116s. even up to 144s. for the very 
finest brands. American butter has been more freely dealt in on 
proportionate terms, and an increasing trade has been done in 
