VALUE OF DRUGS, CHEMICALS, &C., IMPORTED FOR CONSUMPTION DURING THE YEARS ENDING 30TH JUNE, 1874 AND 1875. Total, dutiable and free, $36,180,601 $5,061,672 $38,232,067 $5,518,105 புய Greens. ANNUAL REVIEW OF THE TEA TRADE OF NEW-YORK, Receipts from China aud Japan, by steam and do. via San Francisco, 12,481,970 7,926,033 1,829,199 10,328,608 295,741 12,453,548 32,861,552 1,495,355 28,890 .... .... 28,890 1,524,245 19,516,347 17,340,245 2,851,866 11,773,347 310,983 14,936,696 51,793,288 5,396,970 1,569,637 560,034 4,238,970 21,800 4,820,804 11,787,411 .... Total supplies for 1875,. 24,913,317 18,909,882 3,411,900 16,012,817 332,783 19,757,500 63,580,699 Stock in first hands, do. do. 1872, do. do. 1870;. .... 19,017,014 13,994,401 2,218,231 10,537,417 327,533 13,083,181 46,094,596 19,569,636 16,803,605 3,884,776 11,794,459 372,069 16,051,304 52,424,545 18,072,017 14,977,922 3,060,874 14,287,603 680,488 17,978,965 51,028,904 19,998,389 12,500,000 2,800,000 13,200,000 135,194 16,135,194 48,633,583 21,088,226 10,310,090 2,912,645 13,279,541 262,867 16,456,053 47,854,369 15,279,384 7,684,139 1,383,119 9,499,592 117,862 11,000,573 33,964,096 The above tables are made up, as usual, from the reports of the "Importers' and Grocers' Board of Trade," as to the stock in first hands on the first of January, 1875 and 1876, and from linguist reports as to aggregate receipts for the calendar year from China and Japan. Receipts at San Francisco for the year, for distribution mainly local, were 5,477,568 lbs., against 5,857,713 lbs. in 1874. The apparent decrease in consumption of nearly 7,000,000 lbs., as compared with 1374, is probably not actual, large speculative purchases having been made in December of that year, thus adding at once to the apparent consumption of 1874, and correspondingly decreasing the figures of 1875. The special feature of interest in the first eight or ten months of the year was the continued popularity of Japans for actual consumption. Towards the close, it became apparent that the Japanese had increased their export at the expense of quality, and the Japan leaf has since ceased to hold the same commanding position it previously occupied. Grand Total. January.-The excitement caused by the agitation in Congress of the duty question, as noted in the closing month of 1874, continued without abatement through the whole of January. The proposition to impose a duty of 15 cents a pound on tea, while thus pending in Congress, caused an actual advance in two months of from 7@ 10c. on prices previously ruling. Much of the buying was speculative, and at the close of the month the market was firm, but less active. Sales included both old and new crop teas, the latter mainly for immediate distribution. Greens were firmly held throughout, and were readily taken at current values. Japans continued popular, being in large demand for actual distribution. Oolongs of all sorts moved freely, and Congous and Souchongs, though in limited supply, attracted some attention, and shared in the upward movement. February.-Early in this month the action of Congress in regard to the imposition of a duty was conceded to be very uncertain, and assurance rapidly giving way to doubt, but few transactions took place, and the market became weak and demoralized. March. In the early days of March, Congress adjourned without imposing the duty, and the sharp decline, which was foreshadowed in February, commenced at once. The naturally downward tendency of the market was increased by the free offering of goods "without reserve," under the hammer, and prices fell off abruptly on the average just about what had been gained while the duty was under discussion, say 7 @ 10c. per lb. Sales of all sorts were small, and the result of forcing by holders rather than the effect of demand. April--The disposition to realize, both on the part of importers and dealers, resulted during this month in a considerable volume of business, sales under the hammer continuing to some extent. Prices weakened 1c. @ 2c. further on good medium to choice grades of Japan and on Oolongs, of which a large quantity changed hands. Greens held their own in the main under the influence of a better demand, and at the close, fine to finest chops were even slightly higher. May.-Holders continued to push their stocks, both at public and private sale, and the result of the process was, as before, a large business and lower prices. Japans held up fairly well until the receipt of telegraphic advices indicating the opening of the market for the new season at figures much below those of the year before, and then Japans also gave way. Greens declined about 5c., Japans and Oolongs, 2 @ 3c., and the market closed without life. June. Prices continued to give way, and Greens, Japans and Oolongs were quoted at the close fully 3c. off all round. The decline in some kinds was greater, notably in old crop Japans. First arrivals of new Japan leaf found buyers at 50 @ 52c. for parcels of finest average, for which, however, the demand was limited. Souchongs, though little called for, gave evidence of sharing in the general decline, and the tone of the whole market was weak and demoralized. July.-Under the influence of a better demand, some advance was established in Greens and Oolongs, and the sales for the month amounted to a more satisfactory aggregate, although the offerings at auction were more restricted than for three months previous. Greens were chiefly inquired for, and chops were quoted 2 @ 3c. above some prices. Sales were irregular at the close, some showing barely former values, and others, perhaps, all the advance. Japans were freely sold at a decline of 2 @ 3c. on old leaf, and of 3 @ 5c. on the new. Cargo grades of Oolongs closed 1 @ 2c. higher than the month before. A few parcels of new Formosas reached the market, but few sales transpired. August. The better demand noted in July continued through the first fortnight of August, resulting in hardening prices for Greens and Oolongs, and also for Japans. In the latter half of the month, inquiry was less active, and extreme quotations were not attainable except for Japans, which, owing to a temporary absence of receipts and sustained by a good demand for consumption, showed an advance of 2@ 3c. per pound. Congou and Souchong presented no feature of importance. A few new Congous from Shanghae were sold at rather disappointing prices. September-Sales were small, the demand having fallen off, and prices again showed a decline, except for Japans, which continued firm in the absence of arrivals. The near approach of supplies began to be evident at the close in a weak and unsettled market. Greens fell off 2 @ 3c. on fair to fine chops; Oolongs were little inquired for. New Formosas met with some sale at steady prices for finest to choice teas; in grades below these, a decline of 2 @ 3c. was established. Congou and Souchong were unchanged, with some demand for good to superior cargo. October. The volume of business reported was fairly large, the auctioneer having been summoned again to the assistance of the broker. Prices, however, continually weakened, except for the higher grades of Japans, which were in small supply. Oolongs were little dealt in, and remained about as before. Greens were more freely handled, and showed the greatest weakness. November.-Only a moderate business and continually weakening prices, except for Oolongs and certain grades of other stock, which chanced to be in small supply. Such is the story of November. Oolongs at last rallied from their long depression, and became in good request at an advance of 1 @ 2c. for both old and new teas, and for this kind the market closed firm. There was a disposition to force sales of old Greens, which caused in those sorts a still |