( XXI ) 
foreign butter were for larger than usual, the greater part of very 
inferior quality and almost unsaleable. 
" Cheese. — The month of January commenced with a finn market, 
and with the feeling that the drought of the last summer had 
caused such a falling-off in ,the make that holders would be enabled 
to clear off all the finest left on hand at full prices. Our quotations 
will be confined chiefly to Cheddar and Cheshire for English, and 
American as the representative of foreign. The market quotations 
for Cheddar scarcely varied from 74s. to 98s. from the first week in 
January to the end of May; Cheshire 60s. to 90s. January and. 
February, low quality Cheshire 64s. ; March and April, finest 90s. 
to 94s. Throughout May, and the greater part of June, common 
Cheshii-e 60s. ; in July some inferior parcels could be bought at 50s. ; 
finest, up to the middle of July, 92s. to 94s., when the stocks of fine 
old were nearly exhausted. New then began to appear, and the 
plentiful suppl}'^ and low prices of American began to interfere 
greatly with the sale of English. The weather was also far more 
favourable for vegetation than the previous summer — the hay crop 
was then wretchedly short, whilst that of 1871 was abundant; and 
the make of cheese, in consequence, difl'ered widely. At the latter 
end of July the quotations for English were for those of the new 
season's make. To keep the position of the market fairly in view, 
American must now be quoted at the same time as English. We must, 
however, go back to the beginning of the year for American before 
the change is made ; the ranges in prices of American were — from 
60s. to 80s., January to the middle of February ; then chiefly 56s. 
to 80s. to the middle of March ; common things could then be 
bought at 54s. in the early part of April, 46s. the latter end, and at 
40s. in July; finest American, the end of March and beginning of 
April, 78s., at the latter end 76s.; early in May 74s., at the end 2s. 
less ; May, 72s. to 70s. ; early in June 70s., at the end 64s. ; early 
in July the finest 62s., at the end 58s. The quality being good, 
and the snpplies large, these prices began to tell seriously upon the 
bales of English, particularly so upon second-rate qualities. A cold 
and wet summer up to this time had been against the make of fine 
cheese. In August the range in prices of Cheddar was from 64s. to 
76s. ; September, 64s. to 78s. Cheshire, in August, o6s. to 75s. ; 
September, 56s. to 80s. American, August, 40s. to 56s. ; September, 
early, 38s. to 56s. ; later in the month, 42s. to 60s. The low prices 
of August induced the dealers to take American somewhat freely. 
Since then, with liberal supplies of English, the market has been 
quiet, and quotations have scarcely varied — say, Cheddar chiefly 
