We have been favoured by Messrs. L. and S. Spyer, with the following interesting communication.

" London, Dec. 21st, 1843.

" Dear Friends,

With reference to your inquiry respecting tallow from your place, I beg to state, that at present the market for all descriptions of tallow is rather dull, and prices much lower than they have ruled for some years past. This may be attributed to the large supplies received from South America, whence, during the blockade of Buenos Ayres, but little came ; also, to the increased imports from Russia, but principally to the enlarged home production. The value of tallow formerly was artificial, being affected by the enormous 'time bargains,' constantly made for the purpose of speculation. This system is now exploded, and the market is left to the natural course of supply and demand; and has settled down to a much lower standard than formerly.

" I hand you, annexed, copies of reports received from two of our leading Brokers, and shall be happy to learn that the information will prove serviceable to you. I need not assure you that every attention shall be given to any consignment you may please to entrust to my care, and shall at all times be glad to forward advices on the state of our markets.

" I remain, dear friends,

Yours, very sincerely, Walter Josephs.

" Messrs. L. and S. Sryer, Sydney." (No. 1.)

" Dec. 19, 1842.

" The price which tallow, melted in Australia, will command here, very much depends upon the strength and colour. A parcel was sold on Saturday, at 41s. per cwt., which is sixpence per cwt. less than Russia first sort ; but if care had been taken in melting, it would have realised more money than Russia.

" The price of tallow is now nominally low, and at least six pounds per ton lower than for several years. This may be owing to various circumstances, but chiefly to the large make of English tallow, and the dullness of trade in general.

" If care be taken in selecting the fat before melting, in selecting the ferret, and packing the tallow rendered from it, in casks separate from the other ; and, at all events, be sure and separate the tallow made from fat only, from that in which the lean or flesh may have been boiled in the melting, as the lean or flesh always spoils the colour of the tallow.

" If the flesh be so fat as to render it necessary boil it down for tallow, let it be put in casks separately as it will then be fit for other purposes and command a much better sale.

For instance soapmakers will buy the dark colour, and the candlemakers the fine colours; but if mixed in the same casks and melted at the same time, it will be too dear for the soapmakers, and two bad for the chandlers for ordinary purposes.

" The quality of the tallow from Australia is liked, as the body is good; and by care in melting, everything will be done to ensure a good market here.

(No. 2)

" Respecting New South Wales Tallow, we see no reason why it should not enter into close competition with the South American, if it be properly prepared, i. e., well melted

" The fat should be cut into small pieces, so that when subjected to the action of heat, every part should become simultaneously liquid, and not in large masses, that the exterior be reduced to oil before the centre is melted.

" Recently, at public sale, 188 barrels of New South Wales, realized 40s. to 41s. per cwt Dy. Pd., which closely approximates to the value of P. Y. C. Russian."

P 55 4 May 44

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