California Steam Navigation Company | Wikipedia audio article
Channel: wikipedia tts
Date: 2019-01-23

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/California_Steam_Navigation_Company


00:01:09 1 Early history
00:03:28 2 Inland competition
00:05:31 3 Ocean and coastal service
00:08:20 4 Decline
00:10:17 5 Fleet
00:11:25 5.1 Ships
00:24:12 5.2 Barges



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Voice name: en-AU-Wavenet-B


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SUMMARY
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The California Steam Navigation Company was formed in 1854 to consolidate competing steamship companies in the San Francisco Bay Area and on the Sacramento and San Joaquin Rivers.  It was successful in this effort and established a profitable near-monopoly  which it maintained by buying out or bankrupting new competitors.  In response to the Fraser Canyon gold rush and economic growth in the Pacific Northwest, the company expanded to ocean routes from San Francisco north to British Columbia.  Similarly, as California's economy grew, the company offered service from San Francisco south to San Pedro and San Diego.  It exited these markets in 1867 when competition drove prices to unprofitable levels.  While the California Steam Navigation Company was successful throughout its life in suppressing steamboat competition on its core Bay Area and river routes, it could not control the rise of railroads.  These new competitors reduced the company's revenue and profit.  Finally, in 1871, the company's assets were purchased by the California Pacific Railroad, and the corporation was dissolved.