The Sun.
London, England, 1852-07-13 00:00:00

EASTERN STEAM NAVIGATION

COMPANY.

An extraordinary general meeting of the proprietors
of this company was held yesterday at the London
Tavern, by adjournment from July 7, to receive a report
from the directors, and to consider a proposition to be
submitted to them for carrying out the objects of the
company. The chair was taken by Geo. T. Baines,
Esq., R. W. Crawford, Esq., the late chairman, having
retired from the direction.

Mr. YATES (the secretary) read the report, which,
after referring to the two previous plans proposed—the
first, a communication by the German railways to
Trieste, thence to Alexandria by the Austrian Lloyd's
steamers, and so by the ordinary overland route to Suez,
and by steamer to Calcutta; end the second, a commu-
nication by ordinary steam-vessels round the Capo—
stated that

" The objections discovered on exam nation of these
plans led the way to the consideration of a third plan,
which should comprise the elements of high speed
without the inconvenience and great expense inevi-
tably attending the overland route. It was suggested
that steam vessels of the great power which modern
science renders attainable, might be dispatched by
way of the-Cape, so as to accomplish the distance
between England and Calcutta in the 551110 or less
time than the present transit by Sruthampton and the
Desert, and with great increase of comfort and economy to
the passengers. For this purpose it would only be ne-
cessary that vessels should be employed possessing the
speed of fifteen or sixteen knots an hour. It appeared
that fifteen knots an honi would accomplish the distance
to Calcutta in thirty-two days, sixteen knots in thirty
days, and seventeen knots in twenty-eight days. Vessels
of this clasS could therefore ho prudently calculated on
to perform the entire distanced°, thirty to thirty-two
days, provided onlyr they were not obliged to stop and
coal by the way. e.'he. next . question was whether a
vessel could-, be constructed .of power and capacity to
perform the voyage to Calcutta without stopping to coal
by the way..' On this paint the whole question hinged.
The power Of carrying.coal for the whole voyage in-
volves the difference of a cost of 12s. to 13s. per ton in
comparison with a cost. of 403.. to 455. per ton, which
latter is the average of the cost of coal per ton through-
out the overland route. Tho consumption of coal is
known to b, ~tho great element. of cost in steam naviga-
tion; and if this could be reduced by two-thirds, it was
obvious that great corresponding increase of speed and
power might7be obtained not-only at •no increase, but at
an actual diminution of expense. In accomplishing this
object, increased size in the- vessel was a necessary
ingredient, and with it • an ability to provide accom-
modation for passengers and goods of the description
alluded to. It is a principle in ship 'building now ascer-
tained, that in proportion as the vessel is increased in
size her disposable capacity for passengers and cargo
iecreates in a higher ratio. Thus a 'vessel which could
carry her coals for the voyage to Calcutta would neces-
sarily possess the capacity to convey a largely increased
number of passengers and a large quantity of measure-
ment goods... It is equally matter of experience that the
speed attainable by large vessels is greater in proportion
to their power than with smaller vessels; it was clear,
therefore, that such a means of communication must
possess immense advantage over any hitherto existing in
its extent of accommodation, comfort, and cheapness.
On these poihts your directors consulted the highest en-
gineering authority. Of all the eminent engineers in
this country; Mr. Brunel is. known to have dedicated
the must time and attention to the improvement of ocean
steam navigation, and the construction of vessels for
that purpose: The Great Western, the first vessel which
was built expressly to carry her own coal from England
to America, owed her existence to him; and the present
scheme is only a development of the same principle.
Mr. Brunel has satisfied your directors of the prac-
ticability of building and running such vessels
with advantage, and his views are borne out
by the Opinions 'of other eminent engineers
and ship-bailders. The mechanical difficulties being
thus solved, the question remained whether passengers
and freight existed in ii .suffiCient riamber and quantity
to make tho" employnient of such vessels a matter of
profit. On. this point (possessing among themselves
considerable knowledgoand extensive experience of the
trade with India your directors had less difficulty in
arriving at a conclusion. After deliberation. and inquiry,
they are satisfied that vessels of the class referred to,
making ono voyage out and home. every two months,
would find a sufficient amount of passengers and manu-
factured goOds to yield a very large return, and that that
return would be subject.-to fewer contingencies and less
drawbacks than in the. case of vessels running under
contract as to their structure, and as to the time of de-
parture and, arrival. their calculations on these
points your, directors have estimated freight at that now
paid to sailing vessels. and para&ag,,o money at about half
the cost now paid by the overland route, while they
have allowed for the .passengers luxurious and roomy
cabins, with air and comfort, and accommodation
on a scale hitherto wholly unattainable. For these
arrangements about one-half of the total capital
will be required, and there will be ample provision
for the future extension of thee-operations of the
company. Upon a mature consideration of the whole
subject, your directors have-come to the conclusion of
recommending to you to proceed with the proposed
plan of building steam-vessels capable of effecting the
views above expressed, on the principle of carrying their
own coal for the voyage to Calcutta." The report fur-
ther announced the retirement of Messrs. R. W. Craw-
ford, J. Edit:maw, R. Brooks, T. Holroyd, and J. Scott;
but adding that their secession was owing entirely to per-
sonal considerations. It. also recommended an increase
in the number of the board from twelve to eighteen, and
suggested to fill up present vacancies, Messrs. 11. T.
Hope„ MX, C. R. M. Talbot, M.P.; P. W. Miles, M.P.,
S. Baker, and R. Potter; It' was added that interest at
tho rate of 4 rer cent. per annum would be paid upon
calls until the vessels of the ' company commenced run-
ning, and that should any present proprietor be desirous
to be relieved of his shares, there were parties ready to
accept an assignment of ' them; and' to return the full
amount of the deposit paid thereon.
The CIIAIRXAN, previous to the motion for adopting
the report, teminded the proprietors that at the last
meeting in April the directors had fully explained the
circumstances of the tender they had made for the Go-
vernment enntract, and its rejection in favour of the
offer of the, Peninsular and Oriental Company. Since
then queetiiens had been pat on, the subject in the
House cef
Commons, and animadversions had been made
both by th©
resent and the late Chancellor of the Ex-
cheepeer,
Pte statements made by the directors in their
reP'.-)rt- But as these animadversions were general in
their character, there being no specific charge made,
or
'anything Picked out to justify the. allegation that the
statement of the directors was not accurate, they thought
it most becoming in them to leave their report to make
its way with, the pale.. The plan now submitted by the
board might at first sight seem very novel, but, in point
of fact, it was nothing more than the development of
an admitted principle in shipbuilding—that as you in-
creased size, especially length, you diminished expense
of
working, added to the accommodation and stowage,
and increased the speed. This principle,.which was now
allowed by all scientific men to be correct as regarded
sailing vesseli, applied with still greater force to steamers.
The adoption of the Cape route would enable them to
maintain a high and uniform rate of speed throughout the
voyage; there being no impediment, as in the Red Sea,
from, the heat and density of the water, nor any neces-
sltY—the vessels being built of sufficient capacity—for
stopping or coaling places between the point of depar-
ture in the West of England and Calcutta. The direc-
tors, not feeling themselves competent to decide whe-
t er the rate of speed stated in the report was attain-
able, had consulted Mr. Brunel, who entertained no
doubt on the point, and was present to answer any ques-
tions that might be put to him. Bat, with regard to the
commercial part of the question, the board, several
aulnTebers of which were well acquainted with the India
hina trade—some of them having spent the greater
Part of their lives in those countries—had no doubt
;Waatever that there would be found ample traffic, both
‘r, Pass
angers and merchandise to ensure profitable ens-
p.o ymen.
build. for the class of vessels, it was proposed to
d,
Au fact, it was always found that as facilities in-
crease, td was developed, and wherever increased
SPeea Was combined with great reduction of expense,
not ffic developed, but a new
Merely was the tra
he had
traffic was
no doubt ceated.—(flear, hear.) And
that, passengers
between Calcutta and
if you could convey p
England by the. Cape at
about in less time than by
about half
the the expense, an •
India TOU , other con-
overland'. te, numbers orpersons employed in the
Indian service, and others having business or
to
nex,ions with the two countries, pass frequently
wHear, hear.) And in
ould-
lulu fro who now never 'did so.—(
the same way with merchandise
-7the advantage to the
merchant from the goods arriving as soon as the letter
for
months after it,
of advice instead of being
delayedb obvious, that it was impos-
es was now 'the case, was 50 0.
Bible to doubt there would be ivineer
was based on the
y large merchandise
traffic. .Again, the present scltieovernment interfe-
principle of• perfect freedom fro m
es mightG be said that the ab-
rence.—(Laud cheers.) " t was no great ad-
aen
Bence of a subsidy from
Government was no great ad-
-Bence of a subsidy from ho thought so recollected the
Vantage, but when those who
time;
build, and other restric-
tions in. the shape
of
tin2t
vessels, they would pro-
tions imposed on the conqatt,.....(Efear, hear.) Besides
bably be of-a different opinioneteey succeeded in carrying out
the chances were that if
.price they would not only
their objects as to speed andin regard to freight and pas-
sengersobtain the • advantages in
Government control would
which freedom _
Government. would by and bye
give them, but that theadvantage
to
grant a subsidy for
find it to their
conveyance
BlDaoo of letteTs.(Hear, hear.)
M
expressing great satisfaction with
r. D, and his
forward, confidence of its ulti-
matethe proposal put
success, moved a resolution adopting the report, board to carry out
the scheme.
and authorising
theseconded theresolutioe a tl
Mr. R. MARTIN enumerated
of the proposed In. the advantages .an, that it was
amongst
etition with existing companies—gained
free from con3P-
of time, and at
in • point about half the expense
five days
d avoided th
of the overland route, an e transhipment of
and the journey across the Desert. The Eastern
luggage, m
Steam Navigation Co already done the State
some service .by effectingpany had
a redaction of 70,000/. in the
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