The Sun.
London, England, 1863-11-02 00:00:00

BROKERS.
London J and J. Whitehead, 8, Moorgate-street.
Manchester.. Thomas Warner, Esq., 9, Stamp-office Build-
ings, Cross-street.
Liverpool Thomas Tinley and Sons, 44, Brown's-
builaings.
Dublin Edward Fox, Esq., 51, Dame-street.

SOLICITORS.
London ...... ..Flux and Argles 9, Mincing-lane.
- .

Liverpool

.. Fletcher and-Hall, 6, Cook-street.

SUPERINTENDING ENGINEER AND NAVAL ARCHITECT.

John Jordan, Esq., 1 ite Chief Surveyor to the
Underwriters' Registry of Iron Ships.
SECRETARY.
Joseph Treffry, Esq.
TEMPORARY OFFICES.
London 21, Throg-morton-street.
Liverpool Commercial-buildings, Water-street.
Nothing has been more remarkable, in connection with the
progress of Lancashire, than the rapid extension of the
Steam Trade of Liverpool. In the year 1852 the tonnage of
foreign steamers entered inwards at the Custom-house was
188,715 tons, while hi 18e2 it was 595,339, which, in the year
ending June, 1803, increased to 756,120 tons.
In the earlier days of steam, and before the recent improve-
ments for the economy of fuel had been introduced, steamers
could be employed with advantage only for the carrying of
mails and passengers, but latterly, owing to the improve-
ments in marine engines, economy of fuel and space has been
effected, thereby greatly reducing the working expenses, and
screw steamers have not only besn employed in all the near
trades for the conveyance of goods, with large profit to their
owners, but, owing to the advantages which they afford to
shippers, they have, in these trades, almost entirely displaced
sailing vessels.
For some years the carrying trade out of Liverpool has been
gradually undergoing a change. In the Amer.can trade screw
steamer. have taken the place of the once celebrated New
York liners, but as yet only as carriers of the highest class of
fine goons and passengers. Other descriptions of goods and
a large number of intermediate and steerage passengers being
still conveyed by sailing vessels.
In the important branches of the American import trade,
viz., those of grain, flour, and provisions, the loss annually,
sustained by heating during the protr cted voyages fre-
quently made by sailins, vessels is so great, that the interest
01 all engaged in these will be enlisted in favour of
any scheme for the extension of steam shipping to include
such freight, and there o,n be no doubt but that the whole of
the enormous trade in these articles, which in Liverpool
alone amounts annually to 750,000 tons, will fa 1 entirely into
the hands of steam companies.
Tile first object of thi Company is to place on the New
York station a fleet of screw steamers from Liverpool and
London, of large size and great capacity, which will be able
to carry almost, if not quite, as cheap as sailing vessels,
whilst at the same time, from the regularity of their passages,
they will command a full share of the steam trade, and the
Directors also intend sending steamers to the American
Cotton Ports when the war is brought to an end and the
trade re-opened, and have also under their consiceration the
wants of the Brazil and other trades.
In organising this Company the Directors believe that it
will not enter into undue competition with the existing lines.
The Cunard Line is a subsidised company, carrying the
mails and passengers with fast and expensive steamers.
The Inman Line has no a übsidy, but nevertheless has been
most successful, and it now employs eleven vessels, having
commenced its operations with two steamers, the City of
Glasgow and City of Manchester. The steamships of the
Inman Line are, however, of greater proportionate horse-
power than those projected by this Company, which will be
sailed at much le-s cost, and will be constructed to consume
a comparatively s wall amount of coal; at the same time of
such capacity that, in addition to a large cargo of merchan-
dise and passengers, they will be able to carry sufficient fuel
for their voyages both out and home, and so avoid the ex-
pense and delay incurred by coaling abroad.
In order that the objects of this Company may not be even
partially antic pated, and that the..stations may-at once, be
occupied, provisional arrangements have been made Whereby"
three new steamers, ot the description indicated, and in all
respects suitable tor (lie service, have been secured• and con-
tr Lets have been entered into for the bu aline; or others of about
3,500 tons each, and it is proposed to commence with a fort-
nightly service each way, to be increased to weekly sallings
as soon as the vessels can be got ready. The ports of depar-
ture shall be Liverpool for the weekly line, ant London to
the extent the metropolitan trade may require.
The ships will be bails under the inspection of Mr. John
Jordan —late Chiet Surveyor to the Underwriter's Registry
of Iron Ships,—whose services as Inspecting Ens ineer and
Naval Architect the Directors have secured to th a Company.
The success which has attended the formation of well-
managed steam companies has been very marked. That of
Cunard and Inman Company is well known. the Pacific
Steam Navigation Company, whose shares,£so paid, are sell-
ing at £7B per share, has out •,I profits given to its share-
holders new paid-up shares exceeding the amount of the ori-
ginal capital, and pays a regular dividend of 10 per cent. on
the increased issue, carrying over at each annual meeting an
almost equal sum, while many private steamship owners,
with similar descriptions of vessels, but much miller than
those this Ccmpasy intend to possess, have reaped like
results.
The Directors have, therefore, every reason to anticipate a
very great success to the undertaking. They are not en-
tering upon an experiment, but are providing for this Com-
pany a similar description of vessel, but of larger size, ?Ilan
those which have proved so temunerative to severa. well-
known private firms engaged in the Mediterranean and other
trades, and have thus the advantage of toe experience so
acquired, which proves that what is needed, under efficient
management, to ensure profitable results, are large ships,
with moderate but sufficient hot se-power and great carrying
capacity.
The introduction of the limited liability principle has en-
abled undertakings ot great magnitude like the present to be
carried out by joint-stook companies, which may embrace the
co-operation of shippers and of others interested, instead of
by private capital, ets as heretofore ; the result being thet
the supporters of this line will become interested in its suc-
cess, and participate in the profits which they assist to even.
Applications for shares may be addressed in the annexed
form to the Directors, and copies of the prospectus may be
obtained at the Temporary Officss of the Company, or at the
offices of the Brokers and Solicitors, but no application will
be considered unless a deposit of L 1 per share on the number
of shares applied for has been paid.

FORM OF APPLICATION FOR SHARES.
To be retained by the Bankers.
_ . . . ..

To the Directors of the National Steam Navigation Company
(Limited).
Gentlemen,—Having paid to your Bankers the sum of
, being a deposit of £1 per share on shares in
the above Company, I hereby request that you will allot me
that number, and I agree to become a member of the Com-
pany in respect of such shares, or in respect of any less num-
ber you may allot me ; and to execute the Arcioles of Associa-
tion when required ; and I request that my name may be
placed on the Register of Members for the shares so allotted.
Name in full
Residence
Profession or Business
Date