The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1858-02-21
The Movement to Establish a Line Of Atlantic
Steamships In Virginia.


Pursuant to the summons of DR.. Francis Mallory,
President of the Bristol Convention, called meeting
of that body was held at Metropolitan Hall ON
Wednesday night, to receive the report of Wm bal
lard Preston, the commissioner delegated by the
Convention to negotiate in Europe for the establish
ment of line Of steamers between the capes of Vr-
ginia and Europe. Besides the members Of the con-
ventiOn almost every member Of the State Legisla-
ture and also large number Of the merchants Of
Richmond, and Others were present.
The list of railroad companies and other interests
represented in the Bristol Convention was then
called, and it ascertained that the same comDa-
nies were again represented with few exceptions.
The PRESIDENT then addressed the large assem-
bage, briefly reviewing the action OF the Bristol Con-
vention, and explaining, in congratulatory terms,
the object of the present meeting. He concluded
his remarks by introducing Hon. Vim. b. Preston,
who, in the fuflment OF his mission had more than
realized the hopes Of those who sent him abroad as
their advocate and representative.
Mr. PRESTON came forward and was greeted with
cordial applause. lie proceeded to address the Con-
vention first taking retrospect Of the various pub
lie demonstrations In favor OF direct communication
with Europe which have been made in Southern
States since the year 1887. He then communicated
in detail the incidents of his mission attrbuting the
failure of his negotiations in England mainly TO the
preoccupaton OF capital and government interest in
existing lines Of steamships. Proceeding TO France.
hc demonstrated to the enterprisng capitalists Of
that country the advantages OF the proposed direct
communication. and finally succeeded in closing a
contract with the Orleans Railroad Company-tbe
weslthiest organization in Europe-by which the
scheme Of direct trade will be contaminated, II tho
terms of the contract ratified and carried into
effect this side Of the Atlantic. Mr.. Preston said
that he had laborod day and night 20 make these adj
yantages clear and after the contract had been made
he left the city of Nantes asking 20 unite with the Or
leans Railroad by subscribing 900 900 OF francs ID
the scheme. He then went on to describe the re-
sources Of the Orleans Railroad Company. IL con
trolls the southern portion OF France, bringing
Nantes within ten hours travel OF Paris. IL en-
braces in it, range 10000 900 of the inhabitants,
and the most favored localities of the empire Its
shares valued at 500 iruncs-now sell at 400
francs, being nearly 300 per cent above par. Tho
value Of the properly under it, control il 500 900 900
of francs. Its directors are men OF influence In the
empire are noble and wealthy. Nantes directly
fronts Norfolk, and is thirty hours nearer us by
steam than Liverpool. The route between the two
has every advantage over that between Liverpool
and the Chesapeake. The port has wharf 300
yards In length, of solid stone, and dock capable
of containing $50 vessels OF 900 tons measurement.
The Orleans railroad runs down to this dock, and
makes the connection with the interior perfect. The
Orleans Railroad Company say that they are not
commencing this line merely for the sake of making
money, but TO divert trade which had flowed into
channels adverse TO them AZ well as to US. Ia
conclusion Mr.. Preston paid high compliment tO
Hon. John Y. Mason, our Minister to France, for
his aid in behalf Of the scheme, and TO Governor
Wise and President Buchanan, for facilities Afforded
him. lie spoke for about two hours, and was
listened TO with marked attention by the audience,
among whom we should mention, the British
and French Consuls at this port Messrs. James and
Paul.
The contract Is not definite, but advises, in tho
form Of stipulation, the basis upon which the pro-
jected service by steamships might he organized,
viz -
/. The number, tonnage. power and speed Of the
vessels shall be determined by the company; but
the number shall not be less than four, nor the
number Of round trips per annum less than twenty
four.
2 and 2. The tonnage, power and speed Of the
vessels TO be not less than the tonnage, &c. OF the
steamers Fulton and Arago. -
4. The capital Of the company 10 be 81 600, 600.
g. One half of the capital 70 be subscribed in Ame-
rica and onehslf by the Orleans Railroad company,
or under it, influence.
g. The "domicile" Of the company TO be IN Paris IN
France.
4 The first year four directors 10 be French, and
three American; the second year four American and
three French; and so on, alternately unless other
| wise determined by the statutes Of the company.
s. The American interests 10 guarantee 70 the en-
terprise for ten years subventon for mail service,
| sl2 800 per round trip. Any subventon that may
be given by the French government shall likewise
| inure 70 the common benefit Of the stockholders.
q Two Of the four proposed steamships to be built
AZ Norfolk or some other point In Virginia and ,o
carry the American hag the other two to be built IN
France and To carry the French nag
| On motion. IL was
Resolved rh.t committee Of Eve be appointed BY the
President 10 meoriaze the Legislature for charter pro-
siding for The o direct service BY steam
sbjps between Norfolk and s. Nszare, upon the osss ot
the preliminary convention agreed 70 ~ 'ne on ~ h
Ballard Preson, and Mr. Salacroup Shci hAs"o0' " "o
Orleans Railroad Company
| On the further motion, 10 was
pesolved mat a committee OF eleven be appointed bv
The President 70 me ,,osny oce 10 he srsan
ved under Of this Conventon Tor the trans
rortaton Of the United states mail, upon the terms
Indicated the prelminaries which have been approved
at this meeting.
CAUTION TO STAGE Duvxw-A rather cruel practice has