Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-10-23
The Oil Trade.

Within the past week there has been decline OF over hall
gallon in Whale oil with only fair business Prices now
range which have been paid for the last
year. These comparatively high rates pay very good
cenase the capital invested but when prices go below ~
cents they did ia 1897 the whale fishery sufficiently
profitable for capitalists continue trade and many ge-
morally withdraw. The present prices tend il the money
market better condition. to Increase the number Of
whale ships rapidly; and vessels will be des
patched to the Pacific and Indian Oceans this year than there
last the before that Prices Of products operate
alike the production oevey description of articles and the
whale fishery affected very materially by high low prices
find that since the revulsion Of 1867 less number OF
whale ships have sailed from New Bedford Nantucket and 80
and right whale oils very low and at period
whale oil down 10 Is 20 gallon Now sales are
FALL and 81 ~ 81 IS gallon for WI ter strained which
higher than have been known for long time Prior to the
winter of 1896 the whale fishery had been common
with svey other branch great rapd AS the
following will show:
VALUE OF OILS IMPORTED. f>
L. lsss' selss 9s7 In 1887 sa,ss7Sss
These the total value Of the oils imported 1888 ncu-
sve This year not inc ued in the table
the official statement but from pretty good authority learn
that the mporaions IN sSs ending with Oct s nm have
oil separately, the import has BEEN in quantity,
In 1884, $4,000 Ibis. In 1897, $4,000 bbls.
1888 i5so GOO do isss i lag GOO 40 20.
Such the true condition Of the oil trade and analysis
will d ow its rami6csto since 1886
The revulsion which broke loose in May 1887, drove the
of aarge feet of whale ships seek other and
profitable business than the whale fishery and large
number Of vessels withdrawn and turned into freghng
ships paying better per cenage May companies m small
places the business entirely and sold all their ships and
materials. New Bedford and Nantucket the only
ports in the fishery and they appear to
monopolze the whole trade of the country There
raj ports which have their whale ships and may
include Poughkeepsie, Warren r. Sagharbo and Staten
Island, the list, but they do nothing compared with the
great trade that carried the two first mention places
In the years 1897 and 1888 hundreds Of who had been
formerly engaged the whaling business Of employ
men and the majority finally into the merchant services
for since those years financial affairs have been such
vent the formation of and understand the
association the Hudson has offered all its ships for SALE and
intends to Withdraw almost entirely from the business IL has
been estimated upon pretty data that where eight
whale ships sailed in 1885 and 1885, than fitted
out aud this the proportion throughout But those vessels
that present in the Pacific and daily arriving New
Bedford and Nantucket have been very fortunate
in short time We speak Of ihose in the Pacific
having been prosperous many Of them have been spoken
and otherwise heard FROM when n.ar full and ready for home
II is in their being fortunate that have estimated
the Of 1892 100000 in value Were il not
for this the receipts would be less and undoubtedly advance
TO poin they The ships which have been
fitted 1ut 1897 mostly for three years and
consequently there ships which have not been sufficient
y lucky to return home before their time up
The high prices in This country have prevented the usual
erporatsn Of oil the north OF Europe This has, great
benefited the had the foreign ship
ment. been large formerly prices would have been al
fecied still more.