The Sun.
London, England, 1868-01-16 00:00:00

LPACIFIC STEAMSHIP COMPANY.

The facts stated in the Report, dated Dec. 6,
1867, of Louis INI`LANE, acting President of the
Pacific Steamship Company to the board of direc-
tors, are worthy of notice. It embraces the opera-
tions of the company for the year ending 31st
October, 1867, and it has been received with
the understanding that a full exhibit is to be fur-
nished on the return of the President, ALLAN
M'LANE, who proceeded to China on the com-
pany's business. During 1867 the vessels of the
company made 36 through voyages each way be-
tween New York and San Francisco without
detention or serious accident. The passengers
carried from New York to San Francisco num-
bered 18,477, and from San Francisco to New
York 8,383. This shows the large proportion that
proceeded to the Pacific States, and did not return,
the balance of those remaining being over 10,000.
Those who shipped by the company for intermediate
ports numbered from New York 1,729, and from
San Francisco or Aspinwall 2,517, of whom
doubtless the majority were brought to Aspinwall
by the Australian or South American steamers en
route to New York. The receipts from passengers
amounted to $3,085,407. This was in excess of the
sum for freights, which amounted to $2,738,468,
though the larger balance probably remained from
freights than from passengers, who require to be fed.
The mails paid $262,252, and interest and premium
on gold $333,994. The latter sum was derived from
the transport of treasure from San Francisco to New
York amounting to $30,371,604, and to foreign parts
$11,220,315, which, we presume, mainly went to
China. The merchandise freight shows the great
surplus of carriage to San Francisco over the car-
riage from San Francisco, being 29,716 tons against
16,712. Besides this, the steamer carried to inter-
mediate ports outward 8,719 tons, and homeward
5,445. But great as are the receipts of the com-
pany from the working of its lines, it possesses an
income independent of this source. Dividends on
investments realised during the year, amounted to
$538,818, and from various credits $180,766, mak-
ing the total of all receipts $7,639,707. The company
is chiefly of interest in Europe from the connection
it has established between China and San Francisco.
This is a main link in the through route shortly to
be perfected from London to Hong Kong. On the
Ist January, 1867, the China line was inaugurated
by the Colorado, which then left San Francisco for
Hong Kong. After making three voyages, she was
relieved by the Great Republic and the China, which
make trips every six weeks to Yokohama, whence
the service is carried on to Hong Kong and Shang-
hai by the Yew York and Costa Rica. The Japan,
now building, will be completed and in her place
next July, when monthly trips, according to the
mail contract, will commence. A fourth large
steamer, not yet named, will be required to
complete the operations, and to maintain the ser-
vice against a casualty. The finest of American
ships are those on the line between San Fran-
cisco and Yokohama. They are calculated to
carry 1,500 passengers and 2,000 tons of freight, and
are fitted with independent donkey engines, boilers,
and fire apparatus. The company has to maintain
four distinct lines or breaks in its connection. A
merchant in New York who desires to go to Shanghai
or Hong Kong puts himself into the hands of the
Pacific Mail Steamship Company. He proceeds
in one of their steamers to Aspinwall, then
crosses to Panama by the railroad, and embarks
in another of their ships, which takes him to
San Francisco. His next move is to a berth
in the Great Republic or the China, which lands
him at Yokohama. If bound for Hongkong
he gets on board the New York, and into the Costa
Rica, if for Shanghai. Whether this route be not;
preferable to the Peninsular and Oriental Com-
pany's line, for passengers from England to China,
is a question that if the company were well advised
it would quickly answer and let the facts be known.
But this powerful Corporation has been so prosperous
that it does not push its interest so strongly as it
may hereafter be compelled to do in the face
of an established opposition. During the year
$2,550,000 were paid to the proprietors in dividends,
which amounted in the aggregate to 14 per cent. ;
leaving a balance of $93,514. A connection so
profitable could scarcely fail to bring competitors
into the field, although it is no light matter to
establish an ocean line of steamers. The North
American Steamship Comp my, better known as
IVebb's Nicaragua Line has u:idertakeu this task,
and while announcing the opening of a new line
between New York and San Francisco, it is styled
" Opposition to the Monopoly." The effect has
been to force, the Pacific Mail Steamship Company
materially to reduce the rates. The North Ameri-
can Company, nothing daunted, has brought into
the field a very powerful fleet, but whether it wilt
be able to maintain itself against the hostility of
the Pacific Company is another question. The fol-
lowing are the names on its direction, which argue
strength : —W. 11. WEBB, DAVID DOWS, WILLI-km
IL GUION, CHARLES DANA, PICKERING CLARK.
The stook of the Pacific Mail Co. for many weeks
has been knocked up and down by speculators,
closing on the 27th December at 1101. The Re-
port on which we base our remarks was the result of
a powerful agitation on the part of theprtohperidetiroeres,.
who brought a variety of charges against
tors, which ended in a compromise—three of the
old Board retiring to make way for three new mem-
bers elected from the malcontents. The Fulton and
the Arago are now emplToyedyboyrkthetoNAorstphinAwmalei.r_i-
from 1\ ew
Ai-
can Company
Times.