In the then state of steam machinery long sea voyages could not be attempted with profit, and the project was abandoned.
The result, however, was unfor tunate.  In the then state of steam machinery long sea voyages could not be attempted with profit, and the project was abandoned.  Nothing daunted by this failure, Mr. AVilliams and his coadjutor, Mr. Francis Carleton, applied themselves to the carrying out of a scheme for steam navigation to the East, for which purpose the Peninsular and Oriental Company was Peninsular formed.