Year. oil. Seal-oil last year was valued at £32 per ton, and the average price for skins was 68. Taking the 625 tons of oil at £32, gives £20,000, and 57,776 skins at 6s. each, produces the sum of £17,232 16s. So that the value of the seal-fishing in 1876 was £37,332 16s. Only one vessel returned clean from the seal-fishing. The total catch at the whale-fishing was in 1876 64 whales; 824 tons of oil; 45 tons of bone. The selling price of whale-oil in 1876 was £35 per ton, and although as high as £1,200 was got for bone, £800 was the average price. The 824 tons of oil produces £28,840, and the 45 tous of bone, £36,000; total for the whale fishing, £64,840; total for the seal-fishing, £37,332 168.; total for both fishings, £102,172 16s. Of course from this sum falls to be deducted the expenses of the fleet, which must necessarily be very heavy .In 1875 the value of the seal-fishing was computed at £27,026 78. 6d. and the whale-fishing at £50,325; total for both fishings, £77,351 78. 6d. This shows an increase in favor of 1876 in the seal-fishing of £10,306 8s. 6d. and in the whale fishing of £14,515; total increase on both fishings for 1876, £24,821 88. 6d. The following is a very complete statement showing the produce of British vessels from 1865 to 1876, inclusive, at the Davis Straits and Greenland seal and whale fisheries. It will be observed from this statement that the whole of the British vessels engaged in the Davis Straits and Greenland seal and whale fishing now belong to this consular district, and of these the largest number belong to Dundee and are all steamers. Indeed, sailing-vessels are quite the exception, Peterhead being the only port that has two or three old sailing-ships which go to Greenland; and it is predicted that in the course of a year or two these will either be turned into screwsteamers or laid aside for steam-vessels. COMPLETION OF THE TAY BRIDGE. That great undertaking the Tay bridge, referred to by me in my reports for 1875 and 1876, is now completed, and is to be formally opened soon. This bridge is full 24 miles in length, consisting of nearly 90 spans, the girders resting upon brick columns or strong cast iron pillars. The spans over the navigable part of the river are 245 feet in width and 88 feet above the surface of high water. The estimated cost was about £300,000, but this has been exceeded by at least another £100,000. Unfortunate mishaps have occurred several times, attended by loss of lives and destruction of portions of the work. In spite, however, of these discouragements the contractors have persevered and creditably finished the bridge. Great interest has been manifested by notable scientific and eminent men in the progress of this gigantic structure, who have visited it while building. A tunnel in connection with the bridge, running parallel with the docks, has cost a large amount of money, and is now almost ready for traffic. AMERICAN INVESTMENT IN DUNDEE. The American Investment Trust and other companies formed in Dundee have been a great success. The first started, the Scottish American Investment Trust, has had three issues of certificates, on which 6 per cent. has been regularly paid, and the certificates now stand at from 10 to 12 per cent. above par. This company's transactions are in every kind of good American securities, but chiefly in railway and city bonds. The capital subscribed for each issue was £400,000 for the three issues= £1,200,000. So much confidence is reposed in this trust, that for the last issue double the amount of money required was offered. Another company, the Oregon and Washington Investment Company, limited, has a total capital with debentures of £250,000, which is lent out on culti vated farm-lands in the States of Oregon and Washington exclusively. This company has also paid high dividends to the shareholders, 6, 7, and, one year, 8 per cent., and the shares are quoted 10 per cent. above par. The last company constituted was the Dundee Mortgage and Trust Investment Company, limited, which with debentures has a capital of upward of £200,000, with which they operate on the varied investments of such a field as the United States offers. The dividends paid have been 6 to 7 per cent. Besides yielding these handsome returns, each of these three companies has a substantial reserve fund. A company called the Oregon and Washington Mortgage Savings-Bank, limited, was floated in Dundee last year. The capital required for this bank, however, is small compared with the other companies mentioned. These facts bear out that American investments are held in high esteem in Dundee and that the benefits accruing have fully rewarded such an appreciation. MATTHEW MCDOUGALL. Statement showing the value of declared exports from the consular district of Dundee (including the agency at Aberdeen) to the United States during the four quarters of the year ending September 30, 1877. Statement showing the value of declared exports, &c.—Continued. Report upon the trade and commerce of Glasgow for 1876-77. The accompanying statement shows a marked decrease in the value of declared exports. This is owing, not so much to business depression generally, as to the fact that our home manufactures in the United States are becoming better appreciated, and are in a measure supersed ing the use of goods manufactured abroad and formerly imported. Business is believed to be reviving throughout this consular district. There is a noticeable increase in the value and quantity of imports from the United States, especially in the line of fresh meats and live cattle. The imports of grain, during the ensuing year, promise to be largely in excess of those of any past year. Fifty-six American vessels have arrived and cleared at this port and at Greenock during the past year, showing a decrease of eight as com pared with the previous year. The ship-building interest on the Clyde has again revived after an almost total suspension during the past three months, resulting from a serious strike and lock-out, now happily terminated. SAMUEL F. COOPER. |