ANNUAL REVIEW OF NAVAL STORES FOR 1861.

From the Shipping and Commercial List, and New-York Price Current.

General Remarks.-The year just closed has been the most remarkable which our country has ever seen, and especially so in regard to all Southern productions, all direct supplies having been early cut off, though Spirits Turpentine continued to arrive, to some extent, from indirect sources, till near the close of the year. The last parcel of Crude Turpentine in market was taken up shortly after the first of October, but none of the other articles were exhausted; and notwithstanding the short supply, the stock of Spirits on hand at the close of the year was more than half the quantity left over last year, and nearly half as much as the year before. Of Rosin, a little less than one-third the amount on hand 1st January, 1861, remained at the close. Of Tar, however, the stock held over was much greater than last year, and the receipts and exports more nearly agree with those of 1860 than any of the other articles. So many other unusual, conflicting and distracting elements have entered into the trade the past season, that it is impossible to say what effect the introduction of Petroleum, which we alluded to last year in our annual review, has had upon the consumption of Spirits Turpentine for illuminating purposes, nor what point prices might have attained; but for the timely, and we must say, providential discovery of these "Rivers of Oil," the cry might again have been heard that was made years long ago, "Give us of your oil, for our lamps are gone out," and possibly with no better success. In August, when Spirits Turpentine was quoted about $1 50, it was discovered that Petroleum Naphtha could be used as a substitute in painting, &c., and prices rose from 25 to 45 @ 50 cents, and a considerable business was done at these figures; but it was found to be too evanescent, and withal, dangerous, and its use being largely diminished, prices fell off rapidly, till at the close but 14 cents could be obtained.

From the commencement of the year until the third and fourth weeks of April, there was little or no appearance of speculation, and prices were remarkably steady and uniform. At this time, however, political events assuming a serious aspect, and the interruption of our supplies being threatened, speculators entered the market, and prices of most articles rapidly advanced, making but moderate progress from this time, however, until the second week in August, when another radical advance took place, followed by a reaction the latter part of the month, which continued to the end of September. After this period there was less fluctuation, the stock of Turpentine being nearly exhausted. Spirits Turpentine advanced till the third week of October, when it began to decline under the influence of arrivals from indirect ports. Common Rosin improved to the middle of December, when lower figures were accepted; and Tar improved to the close of the year. To be more particular, we give a retrospect of the year for each article.

Crude Turpentine-At the commencement of the year was quoted $250 @ $2 75 per 280 lbs., and the London quotation then at hand,

10s. 9d. @ 11s.-stock in New-York, 1st January, 6,705 bbls. During January, February and March, and until the third week in April, all the transactions were within the range of $2 62 @ $2 874, but at this time the market became excited, and sales of Wilmington were made at $3 75 @ $4, the London price having declined in the mean time to 9s. @ 9s. 3d. By the end of May prices had advanced to $5, but after the first week of June became nominal, and sales were made subsequently at $4 50 @ $4 75. At the commencement of July sales were again made (chiefly for Boston account) at $5, continuing steady at this price until the last week of the month, when a sudden rise took place, 3,400 bbls. being taken on speculation from $5 75 up to $6 50, the stock at this time being reduced to barely 5,000 bbls. on sale. Prices in London early in May suddenly advanced to 15s.-declined to 13s. @ 14s. before the end of the month, and again improved in June and July to 15s. @ 16s. On the first of August the remaining stock was taken at $6 624 for Soft, leaving none in first hands, and that in second hands held at $8 and upwards, the views of holders improving daily, until the third week, when a sale was made to a distiller from second hands at $10, which was the highest price paid, and the last sale of the year, with the exception of 2,000 bbls. North County, taken early in October, as it runs, without inspection, at about $8 per 280 lbs. From this time there was no stock out of the hands of distillers, and consequently no sales, as they found it more profitable to distill than to sell; in fact, there was little or no inquiry for shipment. In London prices continued to be quoted 15s. @ 16s., improving in October to 16s. @ 19s., and in November to 22s., the year closing nominally at this rate, being but one hundred per cent. above the opening quotation, while the closing rate here was three hundred per cent. advance on the price 1st January, 1861.

Spirits Turpentine.-The year opened with a fair demand, a stock of 6,000 bbls., a quotation of 34 @ 35 cents for Southern Straight and Shipping, and 35 @ 36 for New-York barrels; a London quotation at hand of 32s., and Liverpool, 31s. 6d. @ 32s. We may here remark that our comparative prices and the average for the year are for Southern barrels, New-York packages being generally one cent higher until the market had largely advanced, when, in the anxiety to buy, there was little or not difference made, New-York, in any considerable parcels, merely having the preference at the same price, and for the last several months no quotation at all could be given for this description. Never before in the history of the trade has there been so great a disposition to speculate in this article, many persons investing in it who were entirely outside the trade, and including clerks, brokers, gaugers, &c., &c., so great was the temptation to double their capital in a single transaction. At times the market was seriously affected by considerable arrivals from Bermuda, Havana, Nassau, N. P., Halifax, N. S., &c., with which places a very considerable trade seems to have been carried on by the South in the early part of the blockade. The Liverpool and London markets were also drawn on, and with those mentioned above, contributed to keep up an ample supply, and keep down prices to a point which could not have been expected otherwise. During the whole of January, February and March, and until the third week of April, (when the market became excited,) prices were

remarkably uniform, at no time varying more than two cents from the opening rates. On the 19th of April the market became very active, purchasers taking all offering at previous figures, say 36 cents, and prices closing firmly on that day at 37 @ 38 for Straight and Shipping; from the 20th to the 23d prices further advanced some thirty cents per gallon, but the market was quiet thereafter until the 26th, when holders put up their price to 75 cents with sales, and by the end of the month 75 @ 80 cents had been reached. These figures obtained till the middle of May, consumers buying very sparingly, but from this time to the end of the month prices gradually softened, and wholesale parcels were obtainable at 70 cents. On the first of June our account of stock making it appear that there were 7,782 bbls. on hand, (which was more than was generally supposed,) the dullness increased, and sales were made the first week as low as 65 cents, but prices again rallied; and during the second week 70 @ 72 was again paid for Straight and Shipping, gradually appreciating to the close, when 82 cents was paid for wholesale parcels. The stock on hand July 1st was but slightly diminished, and throughout the entire month the transactions were unusually light, and these at a range of 80 @ 82 cents. August commenced with a better inquiry, and small sales at 80 @ 85 cents, and on the 7th there was another large speculative movement, prices advancing 5 cents on that day, 15 next day, and 5 more on the 9th, being an improvement of 25 cents in three days, with sales of 3,600 bbls., part as high as $1 10, followed by a further rise on the 14th, 15th and 16th of 25 cents, the market still advancing until on the 20th, $1 67 was paid, (the "Sarah Starr," with 1,300 bbls. on board, was brought in on the 11th under seizure, but this had no apparent influence on the market.) In the beginning of the fourth week there was a pause in the market, and a sudden and unlooked for reaction took place, (chiefly ascribed to an arrival of 500 bbls. from Bermuda on the 20th,) and prices declined to $1 50 on the 21st and 22d, but the downward tendency was arrested on the 23d, and the decline nearly regained, though this buoyancy was very soon lost, and the month closed very dull at about $1 30. In the beginning of September small sales were made at $1 30 @ $1 35, and subsequently further declined to $1 10, but in the fourth week there was an improved feeling, and sales at $1 25. This feeling continued to the 1st of October, when $1 42 @ $1 45 was again realized. In the third week, say on the 16th, a large demand sprang up from distillers and speculators, and prices advanced 15 @ 17 cents, with large sales, as high as $1 60 @ $1 624 being paid on the spot, and $1 50 @ $1 60 to arrive from England. From this to the end of the month, with some arrivals from England, there was less firmness, and at the close quotations were nominal at $1 57. Prices further declined in November to the middle of the month, when sales were made as low as $1 124, small lots arriving from Nassau, N. P., and Europe, and some hope of opening the ports of North Carolina, helping to depress prices. On the 18th, however, there was an upward movement, which, by the 22d, had carried prices to $1 47 @ $1 50. (On the 21st, 427 bbls. seized by the government were sold at Newport, R. I., at $1 28 @ $1 36, cash, mostly to the trade here.) After this there was another decline, and prices fluctuated, ranging from $1 30 to $1 40,

closing about $1 35. From the 1st to the 14th December the range was $1 30 @ $1 35; on the 14th, 1,500 bbls. scized by government were brought to the hammer, and sold at $1 31 @ $1 374, cash, the higher figure being 74 cents above previous private sale prices. After the auction a further slight improvement was realized, sales being made as high as $1 37 @ $1 40, to arrive from Halifax and on the spot, continuing quiet at $1 37 till the last day of the year, when, with the prospect of a short supply, and but a moderate stock on hand, prices again advanced, closing firmly at $1 40 @ $1 42, cash. The London and Liverpool markets have fluctuated during the year, but our market has been more governed by circumstances at home than abroad, and prices here have ranged higher than anywhere else. The latest London and Liverpool quotations at hand at the close of the year was 66s. @ 67s.

Rosins. At the commencement of the year Common was sold at $1 22 @$125 per 310 lbs. afloat and to arrive, and 5 cents more delivered, which is the usual difference. We may remark here that our quotations have always been made for lots delivered, and we have so continued them in our comparative table, in order to give a fair comparison with previous years, though, by far, the greater part has been taken afloat. The Liverpool quotation at hand at the opening of the year (dated December 21) was 4s. 7d. Throughout January the market was dull, and prices ranged from $1 20 to $1 26 afloat and delivered by vessel. February, which opened dull and quiet, with sales at $1 17 in yard, and $1 21 @ $1 25 afloat, continued inactive, with further transactions at $1 17 @ $1 22 in yard and afloat, until the fourth week, when $1 25 afloat was paid. March commenced with a buoyant feeling and advancing prices, · $1 30 afloat being attained the second week, but before the end of the week, freight room being scarce, prices declined, and by the 22d sales were made again at $1 20 afloat, rallying somewhat to the close, with sales at $1 25 @ $1 30 afloat and in yard. The improved feeling continued in April, freight being rather easier, and an apprehension of the suspension of supplies (afterwards realized) gaining ground, $1 35 afloat was paid at the close of the third week. At this time speculators entered the market with great vigor, and prices were immediately run up to 81 85 afloat, fluctuating slightly, say from $1 75 to $1 85, the month closing at $1 80 @ $1 85 afloat and in yard, with larger sales than in any previous month. There was a fair business done in May, and prices appreciated steadily during the month, but closed dull at $2 10 @ $2 15 afloat and in yard. June opened quietly, and sales were made early in the month at $2 10 @ $2 12 in yard; the market strengthening, however, as the month proceeded, under the conviction that no more supplies could be expected, the closing rate being $2 314 in yard. In July, prices began at $2 32 @ $2 37, and gradually advanced, reaching $2 75 @$3 the fourth week, and closing at $3 50 in yard, with large speculative sales and resales, reaching 25,000 bbls. in three days, the largest business for any similar period during the year. Early in August, with a continued speculative feeling, prices advanced to $4, and by the middle 85 @ 85 12 had been paid, the matter of delivery or non-delivery scarcely now entering into the question. These figures were current till the close of the third week, when there was a sudden decline of 75 cents,

with some favorable reaction. From this time, however, the market lost strength, and the month closed with a quotation of $4 50 @ $4 624, the aggregate sales of the month being larger than during any other of the year. The first week of September sales were made at $4 624 @ $4 814 in yard, but the market was dull, and prices declined the second week to $4, and remained about the same till the 24th, when there was an improved demand, with favorable foreign accounts, and prices improved 37} @44 cents; by the end of the fourth week $4 50 @ $4 624 had been paid, but prices again fell off the last few days to $4 124, the month closing firm, however, at $4 25 @ $4 374. In October, prices opened higher, say $4 50 @ $4 75, but these figures were not maintained, and by the second week some sales were again made as low as $4 12; after the middle of the month there was a steady improvement to the close, when sales were made at $4 624 @ 84 75. November opened without any spirit, and the improvement noticed above was partially lost, sales being made at $4 374 @ $4 44; from this time the foreign advices being favorable, and freights hence rather easier, prices began to improve, and by the end of the month $5 50 @ $5 624 had been paid. In December prices further improved, and during the second week reached $6 @ $6 124, but by the close of the third week another decline took place, and sales were made down to $5 @ $5 25; this was of short duration, and by the close of the year $6 was again paid, at which the market closed with considerable steadiness.

Fine Rosins.-The market for these cannot be traced with the same minuteness as Common, there being no standard of quality or grades, every lot being sold by sample on its own merits. Suffice it to say, that, as a matter of course, all qualities above Common have steadily improved as Common advanced, though the highest grades were slowest in attaining their maximum price. Strained Common and No. 2 at the commencement of the year sold at $1 30 @ $1 50 per 310 lbs., sympathizing always with Common, and at the close sold at about $6 @ $6 50 per 280 lbs. Fair No. 1 sold at the commencement at $2 per 280 lbs., and low grades do. $1 50 @ $1 60 per 310 lbs. ; at the close, Fair No. 1 would command $8 @ $9 per 280 lbs. The first lot of Virgin Pale (17 bbls.) was received from Fernandina, Florida, on the 3d of March, against 9 bbls. from the same place on the 8th in 1860; the quality was ordinary, and the price obtained about $5, against $6 for the first parcel in 1860. In the latter part of May and June, Pale Virgin sold at $7 @ $7 50, and in July was steady at $8, no sales being made above this price for any kind, (chiefly, perhaps, on account of the absence of fine Pale,) until the auction sale of the condemned cargo of the schooner "Adelso" at Newport, 21st November, when a parcel of 338 bbls. brought $6 @ $9, 105 of those bought at $9 were resold at $12 per 280 lbs., the highest price ever paid in this market up to that time; though a small lot, scarcely so good, brought $15 the last week of the year. The stock of all kinds on hand at the commencement of the year was 107,559 bbls., and at the close 33,473 bbls. Receipts of the year, 193,596 bbls., against 621,982 last year.

Tar-Advanced more slowly than any of the articles under review, for when Turpentine, Spirits Turpentine and Common Rosin had ad