ANNUAL REVIEW OF THE WHALE FISHERY OF THE UNITED STATES,

FOR THE YEAR 1872.

THE whale fishery for the year just closed has been but a continuance of the former one in results-few prizes and many blanks. With a small and steadily declining fleet, we have been unable to proportionately gain an average quantity of oil taken, or in reaching more satisfactory results. Those who began the year with the intention of selling whalers, have seen nothing so encouraging in the business as to induce them to change their minds, and though only 7 of the 14 ships then for sale were sold during the year, yet others since arrived, have been sold, and we have now at home ports some 17 more good whale ships known to be for sale, their owners not intending to fit them again. The great loss of whalers in the Arctic in 1871, has been followed by the sale of 20, and loss of 4 whalers in 1872, exclusive of ships that have changed hands in the business, and still we begin the year 1873 with about one-third of the whalers at home ports for sale, or about 17 out of 48 vessels. The continued purpose to sell whalers, after so great a depletion in little more than a year, shows the judgment of those who have long and successfully been engaged in the business, viz.: that it has become too hazardous, and its results too uncertain to continue it, when capital is promised a safer employment, and surer rewards in enterprises on the land, and in our own city, where the products of two large cotton mills equal very nearly the aggregate value of the imports of the fishery yearly. There are those who think that the Arctic whaling will be given up in a few years, because of the perils attendant on whaling there, where ice has to be encountered, with extreme cold and severe storms, and from which causes shipwrecks and damage to hulls are very common. This view is confirmed by the recent action of our insurance companies, in charging 3 per cent. extra each season on whalers visiting that ocean, a step long contemplated, but now felt necessary by the insurance companies.

The fleet starts to-day with 203 vessels in the business, against 218 a year ago, and 288 two years ago; showing a decrease of 15 per cent. per annum for two years past. Another installment of 15 per cent. in sale of ships during 1873, we think would reconcile interested parties for the time to the present condition of the business. Of 9 vessels (schooners) added to the fleet in 1872, 7 had previously been temporarily withdrawn, and 2 were bought to engage in the South Shetland whaling and sealing business, which was revived last year with considerable profit, the skins being the finest fur seals known.

The 24 whalers sold and lost represented 5,192 tons, while the 9

schooners added, show only 766 tons. The fleet at sea, January 1st, 1873, numbers 155 vessels, against 165 a year ago. We had employed in 1853, 571 vessels, with a tonnage of 200,286, averaging 350 tons; in 1863, 357 vessels, with a tonnage of 103,146, averaging 288 tons; in 1873, 203 vessels, with a tonnage of 47,996, averaging 236 tons. The comparison shows a large reduction in the number of vessels, also, a reduction in the average size of the ships employed. The largest fleet and tonnage were in 1854, when we had 668 vessels, measuring 208,399 tons. The largest fleet in the Arctic Ocean was in 1854, when 232 ships were there, and obtained 184,063 bbls. whale oil, averaging 794 bbls. The largest quantity of sperm oil was imported in 1853, 103,077 bbls., averaging in price $1 24. The largest quantity of whale oil was imported in 1851, 328,483 bbls., averaging 45 cents. The largest quantity of whalebone imported was in 1853, 5,652,300 pounds, averaging 34 cents, gold.

These figures serve to show how great a change the whale fishery has undergone at home and among consumers. Our entire import of sperm and whale oil in 1872 was about three-fourths of our import of sperm in 1853, and about one-fourth of our import of whale in 1851; and our import of whalebone in 1872 was about onetwenty-eighth of the import of 1853.

In twenty years the consumption of sperm oil has reduced onehalf, at same prices, 103,000 against 45,000 bbls. In whale it is reduced five-sixths, at an increased price of 20 per cent., 328,000 bbls. against 50,000 bbls.; and in whalebone it is reduced nine-tenths, with an increased price of 100 per cent., 5,652,300 pounds against 500,000 pounds. We do not get oil and whalebone enough in the average to get our money back, and those who get the largest catches, at competition prices, have failed to make money. And so, our oldest and most successful ship-owners are willing to sell their ships. But there are a few firms who, having fine ships and good and skillful masters, are resolute and determined not to succumb to the untoward elements in the business, until they have tested the matter thoroughly, and to such we believe success will come, and should come.

No whaling grounds have been abandoned; every sea and ocean is at present explored by our whalers. The Hudson's Bay and Cumberland Inlet whaling was a failure; some seven vessels being there and obtaining only about 1,500 bbls. oil. The bark Milwood was lost there, the crew being saved, also her cargo of 150 bbls. oil and 1,600 pounds of bone. Three whalers are wintering in Hudson's Bay, and three in Cumberland Inlet.

The Arctic Ocean was visited by 28 American and 4 foreign whalers, and though the September whaling, which is usually the best, was a failure, still the fleet averaged 700 bbls. oil and 10,000 pounds of bone. Nearly 5,000 bbls. walrus oil was taken in the Arctic, though some masters, who were disposed to give up walrusing, abstained from it. The bark Roscoe was totally lost, crew saved. The Helen Snow and Sea Breeze were abandoned, the former was found by the Jireh Perry, and a crew put on board of her, and sent to San Francisco, where she has since been sold to the Alaska

Sealing Company. The latter ship was recovered again by her crew, and continued her whaling. The Live Oak, Joseph Maxwell and Arnolda were badly stove, but reached port safely. The bark Florence went up to the wrecked whalers, and secured the Minerva, also 250 bbls. sperm, 1,200 bbls. whale oil, and 15,000 pounds of bone, and brought them all to San Francisco. Other bone was traded for, and came to San Francisco, in all about 50,000 pounds. Humpbacking has been successfully carried on every where. In Panama Bay, 10,000 bbls. were taken. At Harper's and Tonga Islands, and Chesterfield Shoals, 8,000 bbls. On the Coast of Africa, 2,000 bbls., and around the West Indies, 2,000 bbls. ; in all, 22,000 bbls., and equal to the entire Arctic catch. Not much was done on Crozettes and Desolation. Only two whalers arrived from the Arctic Ocean in 1872, being of the seven saved from the fleet of 1871. A fair catch was made sea elephanting and sealing.

The Arctic fleet for 1873 will number about 32 vessels. Two whalers only return home, and one goes to New-Zealand. Six ships left this port in 1872 to join the Arctic fleet. One or two ships may go to the Ochotsk Sea this year, which has not been visited by whalers since 1870. One firm, who lost three ships in the Arctic in 1871, has sent out three to replace them in the season of 1873. There were no whalers on Kodiac in 1871 or 1872. It is possible Marguerita Bay may be visited this winter by one or two of our Arctic fleet.

Sperm whaling has been but partially successful in the Atlantic. Several good cuts were obtained, and the whaling was very fair, but it was poor in the South Atlantic. In the Indian Ocean, on NewZealand and the West Coast of South America, with few exceptions, the sperm whale fleet has been largely engaged in humpbacking between seasons, with good fares, as before stated. As nearly threefourths of the fleet is sperm whaling, there is a reasonable prospect of having a good supply, at least so long as whales can be found; and this branch of our business promises to survive, as substitutes are not so readily found as for whale oil, and the fleet is well distributed on all the known grounds for sperm whaling. Some good catches have been secured during the year, and in most cases were needed to put their respective vessels in creditable position.

The stock of sperm oil on board of whalers now is about 27,000 bbls., against 33,000 bbls. a year ago.

Last fall 22 out of 32 ships from the Arctic came to San Francisco and 7 went to Honolulu, and 2 home, to Sydney; 14 of the San Francisco fleet were met there by their agents, comprising some ten of our merchants, part of them taking their wives with them. In part, owing to difficulties in shipping oil home from there, five ships were ordered to Panama, to land and ship home their cargoes; four were ordered direct to Honolulu, and two, after refitting for the North, sailed to cruise and touch at the Islands in the spring. The high rate offered for grain freights absorbed all the available ships. The whaler Minerva, saved from the wreck of 1871, was bought by two of our merchants, and loaded with oil for home. Also the Lagoda and Tamerlane took freight for home.

Sperm oil has been in good demand during the year. The import was 45,000 bbls., 5,000 to 7,000 bbls. more than was anticipated. We consumed the entire amount, and drew on stock at the commencement of the year, for 3,000 bbls. Yet there was a falling off of 7,000 bbls. in the consumption as compared with the previous year. The price opened high, at $1 60, and during the summer declined to $1 35, when in the fall it strengthened to $1 50, where it stood at the opening of this year. A few sales were reported at $1 52@ $1 55. The consumption has been about equally divided between home and foreign demand; and the falling off has been, in this country, probably induced by the abundance and low price of lard oil. With the oil caught and at home we have promise of a good supply this year.

Messrs. Bowes, GAME & Co.'s Annual Market Report sent us, reports the importation of sperm oil into the United Kingdom in 1872, at 3,423 tuns, against 3,811 tuns in 1871. During the demand. from January to April, the price advanced from £91 to £100, and when that fell off, it declined in September to £85. The consumption was 3,595 tuns in 1872, against 3,823 tuns in 1871. The stock on hand, January 1st, 1873, was 669 tuns, against 849 tuns January 1st, 1872. The consumption fell off in 1872, 228 tuns, and the stock to open the year with was reduced 180 tuns. Messrs. MACLEAN, MARIS & Co.'s circular shows the imports from the Colonies in 1872 to be 792 tuns, being nearly one-half of the imports of the United States.

Whale oil has been in moderate demand, with small supply. The import was very small-31,075 bbls., consequent upon the loss of the Artic fleet in the fall of 1871. Only two right whalers returned during the year, and the import was little more than one-third that of the previous year, when it was 75,000 bbls. The supply was 61,000 bbls. whale, and consumption 45,000 bbls., against 80,000 bbls. in 1871. The consumption of whale oil has not been reduced by seal oil, for none has come here from the Provinces, nor from fish oils, for the catch has been a small one, not over two-thirds that of previous years, but rather from lard and petroleum, which have been plenty, good and cheap.

The year opened at 73 cents for Arctic oil, and eased during the summer to 66 @ 68 cents, when humpback oil arrived in large quantities, and was taken in preference, because of its lower cost, say 60 @62 cents. Since the Boston fire, in which 8,000 bbls. fish oil were lost, causing tanners to buy some of our oil, rather better figures were obtained, closing at 68 cents for Arctic, and a small stock of 16,500 bbls. of all kinds. There was but little whale oil exported in 1872, say 1,528 bbls.

The London Circular call the import of whale oil there 80 tuns, and the stock on hand, January 1st, 1873, 47 tuns. Also, imports of seal oil there 822 tuns, and the stock on hand, January 1st, 1873,

152 tuns.

Whalebone was in good supply at the opening of the year, about 285,000 pounds; but with little to come during the year, or until the new Arctic arrivals late in the year, and which amounted to

132,000 pounds. Only about 60,000 pounds came from all other sources, including South Sea and Cumberland. Small sales were made early in the year, at $1 90 per lb., and then it declined to $1 75 and $1 50 by May, and in June it was sold at $1, gold, to $120, currency, since which it has been steady at $1 15 @ $120, closing the year at $1 18 for old. The first six months the sales were about 50,000 pounds, but when prices got down to $1, gold, the sales for the remaining six months were about 200,000 pounds, of which consumption of 250,000 pounds about 180,000 pounds were exported. A circular issued by J. A. SEVEY, of Boston, a large bone cutter, shows that he lost, by being burnt out in the Boston fire, some 10,000 pounds of bone; but was at work again in twentytwo days cutting bone with tools patented by him, and which he claims are a great improvement on the old method of cutting. Some 60,000 pounds of bone were brought into San Francisco last fall, which was picked up from the wrecked whalers or traded for with the natives.

London circulars aforesaid report the importation, including the catch at Davis' Strait and Greenland whalers, was 90 tons, against 101 tons in 1871. Stock in London, 357 tons, against 56 tons in 1871. Consumption, 111 tons, against 91 tons in 1871, 107 tons in 1870, and 122 tons in 1869. The import of humpback bone was 22 tons, and the stock on hand January 1st, 1873, was 27 tons.

The imports for 1873, we estimate, will be from 35,000 to 40,000 bbls. sperm, 40,000 to 50,000 bbls. whale, and 300,000 to 350,000 lbs. bone.

STATEMENT OF STOCKS OF OIL AND WHALEBONE IN THE UNITED STATES, JANUARY 1ST, 1873.

STOCK OF OIL AND WHALEBONE ON HAND THE 1ST OF JANUARY FOR THE LAST