IV. THE TEA TRADE.

BY MR. A. S. WOODWORTH.

In the early history of the China Trade, Boston was accustomed to take the lead in the import of teas; but the State tax on auctions, and the lack of suitable brokers, gradually drove our merchants into shipping their imports to New York, where the business was more systematically done, and the auction tax saved, large quantities of teas finding sale at that time through the auction room. For several years previously to, and during the war, no tea vessels arrived at this port, although our merchants were largely interested in the trade, and imported large amounts specially for this market, via New York.

At the close of the war an effort was made to turn the import again directly to Boston. Several importers combined together in 1865 and ordered teas to Boston, and on April 13, 1866, the Nabob arrived from Foo-Chow, with Oolongs and Souchongs, followed in a few days by the Vinco, from Yokohama, with Japans.

There has been an increased direct import every year since, and an increased call for these direct imports in preference to other goods, our jobbers finding it easier to sell those imported to Boston, than those received through another port, particularly in the Western States.

Though the movement for direct imports has only partially succeeded, it is yet a matter of congratulation for such success as it has attained, and of hope for the future. We expect to see the day shortly when Boston will import teas enough to meet all the demand. During the past year a great change in transportation has commenced, which is quite likely to effect an entire revolution in the trade, namely, the receipt of teas via California and the Pacific Railroad, delivering teas on the Atlantic coast in less than fifty days from place of growth. By this change, it is quite probable that the Western markets may be supplied via California, instead of, as heretofore, from the Eastern States.

The imports for 1869, direct to Boston, in seven vessels, were 68,172 packages, 2,841,184 lbs.

Imports by Boston merchants to New York, in 1869, 55,327 packages, 2,323,734 lbs. Total imports on Boston account, 123,499 packages, 5,164,918, lbs. The vessels arriving at Boston, in 1869, from China direct, were the Tien Tsin, Hoogly, Kjobenhavn, Velocity, Gabalra, Queen of the Age, and Brilliant. Several vessels are now on the way from China and Japan, and we hope to see a still larger direct import in 1870.

Prices throughout the year have been rather unremunerative to the importer; but at the close of the year the prospects are better for another season. Oolongs are quoted at 54 @ 56 c. gold, for common to fair, 60 @ 70 c., for good to superior, showing a slight advance, only over prices at the opening of the year. Japans remained quite steady throughout the year, at about 70 @ 72 c. gold; but the year closing with exhausted stock and large increase in consumption, a decided advance may be looked for in the year to come.

1859. 1860. 1861. 1862. 1863. 1864. 1865. 1866. 1867.

1868.

1869.

Peru and Chili..

2,833,641 2,238,192 3,365,111| 1,050,665 1,107,114| 965,545 1,034,066 1,532,670 2,202,970|

2,440,173

2,158,602

STOCK OF FOREIGN WOOL ON HAND AT BOSTON, JANUARY 1, FOR SEVEN YEARS.

1864.

1865.

1866.

1867.

1868.

1869.

10,004 5,086,000 15,312 7,515,300 10,134 5,330,000 10,318 5,435,000 9,946 5,155,000 6,194 2,840,000 9,765' 4,550,000

VI. THE FLOUR AND GRAIN TRADE.

BY MR. EDWARD KEMBLE.

THE business in bread-stuffs for the year 1869 has been generally unsatisfactory; particularly has this been the case with flour, which, during the entire year, has been declining in value, until now the same prices prevail which were current in 1859, when a gold dollar and a paper dollar were of the same value. The characteristics, in several respects, of the trade for the last two years 1868 and 1869 -are identical; there has been a continued decline in prices; business has been wanting in life and activity; prices have been relatively lower than the cost of manufacture, and though lower than for several years, have been, a good deal of the time, above the views of exporters. Notwithstanding this fact, the exports from New York have increased, and been large -as compared with previous late years; while from Boston they have been insignificant, and must continue to be so, until this market has improved connections with the Western States. This can never be an exporting point until we have the same freight rates from the West which New York enjoys. When this time comes, Boston - there can be no doubt will receive her proper share of Western products for export, and steam vessels will come voluntarily to take them away.

The greater portion of flour for this market-fully two-thirds of it-passes over the New York Central and Erie Railways. That by the former is delivered in Boston, by the Boston and Albany Railroad. That by the latter reaches us via New York, by the Metropolitan Line of steamers. This last-mentioned route is a popular one. All rea sonable facilities and accommodations are afforded to receivers, and all claims for "overcharges" or "shortages," are carefully examined, and, if correct, promptly met. There is food for reflection in the fact that these lines, forming together a circuitous and much longer route, can make money, bringing our flour at the same rates charged by the New York Central, and Boston and Albany Railroads, which form the more direct and shorter route. These steamers have brought to Boston during the year, 319,335 bbls. The total receipts for the year have been 1,475,000 bbls. For 1868, they were about 1,460,000 bbls.; showing an increase of about 15,000 bbls.

In grain, the course of business has been without particular note; the receipts have been 2,343,840 bushels, - a decrease of more than 100,000 bushels as compared with 1868, and about 20,000 bushels as compared with 1867.

In wheat we do nothing.

The receipts of oats are 100,000 bushels in excess of 1868; but yet 11,000 bushels less than for 1867.

In corn and wheat, a large export business, it seems, under certain conditions, might be done here; but we find, as on flour, the rates of freight are against us. The exportation of these grains from New York is large; almost every steam vessel which sails for Europe, including the first-class ships of the Cunard line, carries these grains in bulk. Not only have we none for export, but we actually go to New York, ourselves, for a large portion of the corn consumed here. During the year, about 580,000 bushels have been received from that market, - about one-quarter of our entire receipts.

The year has brought us another Elevator, which ought to be a subject of congratulaIts location renders it unavailable for the local trade. It is on deep water,

tion.