The Sun.
London, England, 1858-11-19 00:00:00

SOLICITOR,

Messrs. Montague Leverson and Hawley, 12, St. Helen's
Engineer—l. K. Brunel, Esq., C.E.
place, E.C.
Bankers—Messrs. Glyn, Mills, and Co., 67, Lombard-street.
BROKERS.
Messrs. George Burnand and Co.; 69, Lombard-street.
Messrs. Field, Son, and Wood, 9,-Warnford-court, Throg-
morton-street.
Messrs. Price and Brown, 4, Change-alley, Cornhill.
Secretary—Mr. John Henry Yates.
The desire prevailing on all hands that the Great Eastern
steam ship should be set in motion, and a feeling that the na-
tional characrer for energy and perseverance would suffer in
the estimatisn of the world if the completion of so splendid a
specimen of naval architecture and mechanical ingenuity were
to be further deferred, have led to the proposal of forming a
company for the purpose of purchasing, completing, and
sending her to sea.
Increased carrying power, with greatly accelerated speed,
and ability to coal for an entire voyage, could only be effici-
ently secured by great size. To carry out this principle, which
has now obtained universal assent among practical men, the
Great Eastern has been constructed, and hag cost to the pre-
sent time about £640,000. To raise this sum, the Eastern
Steam Navigation Company has exhausted the power of mak-
ing calls on its shareholders, and has incurred a debt of about
£90,000. The present proprietors are a comparatively small
body (about 300 in number), who are not inclined as a company
to increase their risk ; and although a large and influential
portion of them are willing to sybscribe their fair quota to-
'wlirds finishing the ship, there are legal difficulties which pre-
vent their doing so unless the ship be sold, consequently the
proprietors have determined upon taking that course.
To purchase the Great Eastern as she now lies, and with those
con tracts completed which form part of the existing liability of
the old company, to fit her in all respects for sea as a first class
passenger ship, and to provide working capital, £330.000 would
be the utmost sum required, and this it is proposed to raise by
the issue of 330,000 shares of £1 each, in a company with limited
liability,—called "The Great Ship Company, Limited.".
Calculating from this basis the cost per ton at which the
Great Eastern, ready in all respects for sea, would come into
the possession of the new Company is less than that of a first
class sailing vessel, and not much more than one-fourth that
of a first-class steamer ; while, in comparison with the latter
her working expenses will also be proportionably less, owing
to her immense size, which enables her to carry double the
proportionate tonnage, at nearly .double the Velocity.
Her chances of success in other respects may be estimated
by the fact that she will be able to carry her fuel for the
longest voyages, avoiding the delay and expense of coaling
at foreign ports, and still have proportionably more room for
profitable cargo and a larger number of passengers than any
existing steamer. She will be fitted with all the appliances
this mechanical age has been able to devise for taking in her
fuel and cargo, and for discharging the latter with the greatest
rapidity, and will be supplied with comforts and conveniences
unattainable in a smaller vessel.
_

Her great length, while offering very little extra resistance
to the water, admits of the combination of the screw and
paddle for the purpose of propulsion, from which a rate of
speed hitherto unexampled will be obtained ; for when it is
considered that every increase of size has always hitherto been
attended wit li increase of speed, and of proportionate carrying
power, there is little fear that the computations of science
will Jr! this case fall short of their usual accuracy,.