The Sun.
London, England, 1863-11-03 00:00:00

DIRECTORS.

Thomas Ch-lton, Esq (Ilolilerness and Chilton), Chairman of
the Shipowners' Association, Liverpool.
Robert Dirom, Esq. (Dirom, Davidson, and Co.), Director of
the National Bank of Liverpool.
Willi tm James Fernie, (Fernie Brothers and Co.), Direc-
tor of the British and American Exchan;.,e Banking Cor-
poration, Liverpool.
Thomas Bernard Gunsten, Esq. (Gunston, Wilson, and Co.),
Liverpool.
Edward Lawrence, Esq. (Edward Lawrence and Co.), Direc-
tor or the British and Foreign Marine Insurance Company,

Liverpool.
Harvey Lewis, Esq., M.P., Director of the National Bank,
Landon.
Joseph Neale M'Kenna, Esq., Director of the National Bank,
London.
Robert Maxwell, Esq. (A., F., aid R Maxwell), Director of
the North British and Mercantile Insurance Company,

Ei;erpool.
Andrew Maleolnvon, Esq. (J. and D. Maleolmson and Co.),
Liverpool.
Thomas Wilkinson Tetley, Esq. (Hollinshead, Tetley, and

Co.), Liverpool.
Major Usborne, Esq. (Usborne and Sons), Director of the
National Bank, London.
Henry Threltall Wilson, Esq. (H. T. Wilson, and Chambers),
Deputy Chairman of the British and Foreign Marine In-
surance Company, Liverpool.
ANKERS.
L0nd0n.........The National Bank, Old Broad street.
Ireland . The Branches of the National Bank.
Manchester ....The Bank of England.
Liverpool ....The National Bank of Liverpool.

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

SOLICITORS.
London Flux and Argles, 9. Mincing-lane.
Liverpool Fletcher and Hull, 6, Cook-street.

SUPERINTENDING ENGINEER AND NAVAL ARCHITECT,
John Jordan, Esq., 1 tte Chief Surveyor to the
Underwriters' Registry of iron Ships.
SECRETARY.
Jos,.ph Treffry, Esq.
TEMPORARY OFFICES.
London 21, Throgmorton-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 yi..ar 1852 the tonnage of
foreign steamers entered inwards at the Custom-house was
188,715 tons, while i-, 18ri2 it was 595,339, which, in the year
ending June, 180, increased to 756,+20 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 ,he carrying of
mails ,nd passengers, but latterly, owing to the improve-
ments marine engines, economy of fuel and space has been
effected, thereby greatly reducing the working expenses, and
screw steamers have not only be, n employed in alt 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 carryingtradeout of Liverpool has been
gradually under .ioing 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 goo -8 and passengers. Other descriptions of goods and
a lai ge number of intermediate and steerage passengers be ng
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 sailing vessels is so great', that the iuterest
of all engaged in these trades will be enlisted in favour of
any scheme for the extension of steam shipping to include
such freight, and there cAa 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 fail entirely into
the hands of steam companies.
The first e,bject of this 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 consideration 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 I übsidy, but nevertheless has been
most succes,ful, 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 ie-s cost, and will be constructed to consume
a comparatively small 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, of the •delerifftfbil'lfiilicatetir and in all
respects suitable tor the service:have been secured. and con-
trs efs have been entered into for the tau Ming of others of about
3,500 tons ea,,o, and it is proposed to emunenee with a tort-
nightly service each way, to be increased to weekly salliniis
as soon as the vessels can be got ready. The ports of depar-
ture shall be Liverpool for the weekly line, mil London to
the extent the metropolitan trade may require.
The ships will be built unuer the inspection of Mr. John
Jordan —late Chief Surveyor to the Underwriter's Registry
of Iron Ships,—whose services as Inspecting En, ineer and
Naval Architect the Directors have secured to th s Company.
The success which has attended the formation of well-
managed steam companies has been very marked. That of
Cunard and ininan Company is well known. the Pacific
Steam Navigatien Company, whose shares,£so paid, are sell-
ing at £7B per share, has out -1 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 ceat 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 smeller than
those this Ccmpa..y 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, han
those which have proved so i emunerative to severe, well-
known private firms engaged in the Mediterranean and other
trades, and have thus the advantage of ti,e experience so
acquired, which proves that what is needed, under efficient
management, t ensure profitable resulcs, are large ships,
with moderate but sufficient ho. se-power and great carrying
capacity.
The introduction of the limited liability principle has en-
abled undertakings of great magnitude like the present to be
carried out by joint-stock companies, which may embrace the
co-operation of shippers an of others interested, instead of
by private capital sts as heretofore ; the result being that
the supporters of this line will become interested in its suc-
cess, and participate in the profits which they assist to eat n.
Applications for shares maybe addressed in the annexed
form to the Directors, and copies of the prospectus may be
obtained at the Temporary Offices of the Company, or at the
offices of the Brokers and Solicitors, but no application will
be considered unless a deposit of £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 Ar doles of Associa-
tion when required ; and I request that my name may be
placed on the Register ot
Name Members for the shares so allotted.
in full

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