The Sun.
London, England, 1865-07-24 00:00:00

SOLICITORS.

Messrs. Hancock, Sharp, and. Hales, 25, Birchin-lane,

London.
SECRETARY PRO TEM.)
O. Warwick, Esq.
TEMPORARY OFFICES.
No. 7, Groat Winchester-street.

The want of a public SteamPROSPECTUS Company, and a regular line
between London and the East, is much felt, and there has
been an urgent call for the formation of this Company,
which there is every reason to believe will receive the cor-
dial support and co-operation of a large body of the mer-
chants in the trade.

A provisional contract has been made, by which the Di-
rectors are enabled to secure, on unusually favourable
terms, five new steamers admirably adapted for this trade.
These steamers have beon only recently launched, and
having been built sacially for the Mediterranean trade,
there will be no difficulty in commencing operations at
once. The purchase mone will bo paid partly in cash,
and partly in shares of the Company. The following are
the steamers referred to, viz.:—

Tons Horse power
Burt hen (nominal).
The King of the Greeks 2,200 300
Count Sponneck 2,200 300
Coumoundouros 1,500 175
The Greek
Eptanissos
It is proposed to run a lino of steamers of 2,200 tons
burthen each, and 300 horse power nominal, from London
to Gibraltar, Sicily, Malta, the lonian Islands, and the
principal ports of Greece, Turkey, the Black Sea, the
Islands of the Archipelago, the Coast of Syria, and Egypt.
Competent Agents will be at once appointed in the several
ports, whom it is proposed to remunerate by a commission
on the freights they secure, in lieu of a fixed salary, there-
by saving the Company from outlay, and stimulating the
activity of the Agent.
All the vessels belonging to the Company will be regis-
tered in England, and will sail under the British flag.
Branch steamers of 1,125 tons burthen, and 180 horse
power nominal, working to 500 horse power combined,
will run, in conjunction with the large steamers, between
all the principal ports of the Mediterranean, and Malta,
Greece, Turkey, Asia Minor, the Coast of Syria, and Egypt;
carrying the passengers, mails, and goods of those coun-
tries, and performing duties similar to those of the Austrian
Lloyd's and the Messagerie Imperial., but with far greater
advantages. The exports and imports of London with the
East being considerably larger than those of Trieste or
Marseilles, this intermediate line will serve to bring, by
trans-shipment from several of the smaller towns, the goods
consigned to the mercantile firms in England.
The trans-shipment of all these goods for London will
be made at the Piraeus, where every facility, advantage,
and accommodation, is promised to the Company by the
Greek Government, the Company being graciously placed
by order of H.M. the King of the Greeks under his special
protection.

- There are several seaports on the coasts of Greece, and
of Turkey in Europe, and in the islands of the Archipelago
(particularly in Candia, Rhodes, Cyprus, Ohio, Samos, and
Mytilene), as well as the coasts of Asia Minor and Syria,
each of which exports from 150 to 1,000 tons per annum
of dried fruits, dry wood, tobacco, wool, cotton, silk, vale-
rian, grain of all kinds, and many other articles. The
merchants at these ports sow ship thoir goods, in the ab-
sence of steam communication, at enormous expense and
risk, in caiques or small sailing vessels, and send them to
Syria, Smyrna, Salonica, or Constantinople, to be trans-
shipped and conveyed to England, the greater part being
brought to Liverpool.

Tice London market beiag the principal one in the king-
dom, the AnglO-Greek Steam Navigation and Trading
Company (Limited) will advance on the above-mentioned
products part of their value, and will undertake the con-
signment and sale of the goods in London, at a commission,
securing in this way a good freight for the steamers of this
line, and obviating any detention or delay in the return of
the vessels.

On the other hand, as the merchants in England to whom
such goods are consigned are generally ordered by the
consigners to buy with the balance of the consigned goods
remaining in their hands, such articles as colonials, metals,
or other goods of English manufacture, and export them
to the aforesaid consigners for consumption in the interior
of the country, the greater part of the outward freight will
be secured by the goods bought by the Company in this
manner, and their steamers will be thus placed on the most
advantageous terms for the outward cargo.
The import and export trade of Great Britain with
Turkey and Greece during the last live years has assumed
ansextraordinary magnitude. It amounts, according to the
Annual Statement of the Trade and Navigation for 1863,
to £12,670,684, whilst in 1859 it was only £7,772,811. The
principal impediment to the expansion of the trade has
hitherto been found in the want of a direct communication
between the countries ; but, as the establishment of this
Company will supply the deficiency, there can be no doubt
but that a well-organised steam and trading company, with
ample capital, will command the great portion of the trade.
The average freights from the Levant to London since
1856 to the present time, that is to say, during the last
nine years, have been morn than 50s. per ton, and the ave-
rage freights outwards more than 858. per ton ; but taking
at the lowest freight of 858. per ton out, and 358. home,
....... £7,800
and on a cargo of 2,200 tons weight and measurement, that
the above steamers will carry, will give
Profit from passengore ..................... 100

-
Per voyage
47,900
Less estimated expenses .................. 3,694

Leaves net profit of ................... .£4,206
Taking at least three voyages par year, each steamer
will produce, on the above estimate, a net profit on freight
alone of £12,618, which, on the cost of one of the above
large steamers, amounting to (say) £45,000, is more than
28 por cent. It is therefore clear that if the steamers of
the above Company perform (as they can easily do) four
voyages per year instead of three, the profits will bo con-
siderably larger than the above estimate ; and this is inde-
pendent of tho profits that the Company will reap from the
commission business.

In the evont of no allotment of shares being made, the
deposit will be returned in full. Should a less number of
shares be allotted than are applied for, the deposit will be
made available towards the payment due on allotment, and
the balance, if any, returned to the applicant.
Prospectuses and Forms of Application for Shares may
be made to the Solicitors, the Bankers, Brokers, and to
tho Manager, at the Offices of the Company, No. 7, Great
Winchester-street, London.