The Sun.
London, England, 1866-04-26 00:00:00

ROYAL MAIL STEAMPAC.KET.

The half-yearly meeting of this company was
held yesterday at the London Tavern ; Captain
Mangles in the chair.
The report of the directors stated that towards
the end of last year it was arranged with the Post-
master-General that each alternate fortnightly
packet from St. Thomas for Colon and vice versa
should proceed direct between those ports, instead
of via Jamaica, and that on such occasions the
Jamaica route should be performed by a separ
vessel. Not only did the direct route shorten
somewhat the passage from the Isthmus of Pa-
nama to England, but it admitted ,of the ser-
vice of the company being made to harmonise
with that of the United" states Pacific Steamship
Company, so as to attain the desirable object of
a through communication between California
and England over the company's line with-
out an interval of delay on the Isthmus of
Panama. It was hoped that this change might
also be found advantageous in connection with the
service which the Panama, New Zealand, and Aus-
tralian Royal Mail Company (limited), expected
to commence next June, between Panama, New
Zealand, and Australia, and which, in conjunction
with the Royal Mail Company's service, would form
a monthlyline of steam communication between this
country, New Zealand, and Australia, via Panama.
After alluding to the delay in obtaining delivery of
the Danube, the directors stated that they were in a
position to recommend that a distribution be made
of £4 103. per share out of the balance of profit and
loss account, and of £2 10s. per share as bonus
from the insurance fund, both free of income tax,
payable by warrants on the 28th inst.
The CHAIRIIAN, in moving the adoption of the
report, said the company had now been in existence
for 24 years, and during the last 10 years the re-
port and account had been made up in nearly the
same form. There were some questions in the re-
port and many items in the accounts upon which
they might expect to have explanations. The work-
ing account for the past year was very nearly the
same as that for the year 1864. There was only a
difference between the expenses of the two years of
£260. There was an increase in the port charges of
£lBO, in the sum paid for salaries of £353, and in
the law charges of only £5B, the total charge for
law being only £llO for the year. The item for pro-
visions had been more, in consequence of the in-
crease in the number of passengers. Taking the first
four paragraphs in the report together they would
find it mentioned that the Brazilian French line was
competing with them, that service being highly sub-
sidised by the French Government. Since August
there had been some diminution of receipts, but as
facilities and improved accommodation were in-
creased the number of travellers was also found to
increase, and thus the traffic that had fallen off
would gradually recover itself. The falling off in
the traffic had caused the directors to turn their
attention to the matter, and it was very
creditable to the managers that the expenses
had been reduced. With regard to the item
of washing for the company, they had by
means of machinery saved £750, and they had also
erected washing machinery at St.Thomas's,by which
a similar sum would be saved. When he told them
that the washing of bedclothes, table linen, &c., cost
some thousands a year those savings were import-
ant. The expenses had been reduced in other items
as much as possible. There were items of receipt and
expenditure over which the directors could exercise
but little control. There had been a reduction of
£35,000 in the amount for homeward treasure over '
which they had no control, but they could and did
effect something by the selection of popular and
careful captains. The receipts from passengers ex-
ceeded that of the preceding year by £lO,OOO, and
during the past ten years the receipts from that
source had increased by nearly £lOO,OOO. During
that period the ships had been made more comfort-
able, so that he believed they would compare in that
and other respects with any ships in the world. Ile
then adverted to the new service viaranama to New
Zealand, and the desire of the directors of the Royal
Mail Company to work harmoniously with the Pa-
nama, New Zealand, and Australian Royal Mail
Company. They had made friendly arrangements
with that company, and he thought they would bring
a very considerable amount of traffic to their com-
pany. The noble chairman of that company was in
the room a short time before, and he was going to
suggest to his noble friend that if a system of return
tickets from England to New Zealand and Australia
could be arranged it might be made advantageous
to both companies. They might also give facilities
to travellers to circumnavigate the world in four or
five months by means of their route from Southamp-
ton to Australia, and thence by means of the Penin-
sular and Oriental Company's steamer via the Red
Sea to return to Southampton, and by that means
add a considerable amount tor theirdtraffic. The con-
sumption of coal had been
year. There had been areduee reduced during the past
tioian the consumption
Douro, i
of coal in the Rhone and the which reflected
as
great credit on their managerscompared with the
Oneida, which had heretofore consumed less coal
than any other ship on the Brazilian route. The
average consumption for a year was 1,950 tons per
voyage, while that of the Douro was only 1,607 tons,
and of the Rhone 1,570 tons, which was a very great
reduction as compared with 1,950 tons. The last of
the new ships was the Douro, and her performance
was most satisfactory. The average speed of the
ships for the West India service was 10} knots per
hour. The speed of the Oneida was 10.58 knots;
the Rhone, 10.56 ; the Atrato, 10.74 ; the La
Plata, 10.20 ; and the Tamar, 10.65. He considered
that satisfactory. The speed for the Brazilian ser-
7iee 6" 9i knots per hour.; The speed of the
Oneida on that
Plata, 9, 95 t
Rhone, route was 9.02 ; Parana, 9.76 ; La
Douro, 10.30 ; and
9.91. So
that the stearaer
the public the aanot only kept their time, but gave
company had beevnalltage of greater speed than the
that the cost of thPeanidldfor. He then explained
written off, so that thereßbips had been gradually
that head of £25,000, was now a balance under
dis-
posed of there would be a clear balance
the last one was
of that account of £20,000. Thhalance to the credit
itulde se
atisfactory state
of the company's insurance
officers
the great
their ships.
care taken by the captains and o
The liberal bonuses to the shareholders
fund resulted chiefly from the selection b;itth e of
that
of careful commanders, who were requested on every
voyage to keep time if possible, but, above all things,eve-
to take care of the ships and passengers. ,y ear.)
Mr. E. COLVILE, a director, seconded' the motion
for adoption of the report, and explained that he Was
also a director of the Panama, New Zealand, and
Australian Company. They had every desire to act
with the Royal Mail Company, so as to make the ser-
vice as efficient as possible. It was a great enterprise
for them, their ships would have to steam across the
Pacific, a distance in one run of 6,500 knots without
touching anywhere, the specified rate being 10 knots
per hour the whole way. He believed that their four
steamers were in every respect well suited to per-
farm the contract, their speed being from 11 to 12
knots per hour, and their daily consumption of coal

less than 30 tons. Every effort was being made to
perform the service satisfactorily.
The report was then unanimously pted, and
on the motion for the re-election of Mr. Colvile,
Lord C. HAMILTON seconded the resolution. He
said, as the chairman had alluded to him in reference
to the Panama and New Zealand steam service, he
could only say that the first object of the company
would be to work the contract for the mails satis-
factorily, and to earn the subsidy ; the next object
would be to treat the public wants with the most
liberal spirit possible.
The motion was carried unanimously, and Mr. J.
E. Mathieson, the other retiring director, was then
re-elected.
Mr. J. H. Daniellwas elected auditor in the room
of Mr. J. Capel, resigned ; and a resolution pro-
posed by Mr. PEACH, to the effect that no proprie-
tor be allowed to propose the appropriation of any
money belonging to the company, without giving
previous notice of it, was adopted.
The thanks of the meeting were voted to Mr. Capel
the retiring director, after 11 years' gratuitous ser-
vices ; and the proceedings terminated with a vote
of thanks to the chairman and directors.