The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-09-07
The voyage OF the Great Eastern.

entitled "The Song Of the Bell"
The Voyage OF the Great Eastern.
THE CHARTER NOT YET AWARDED.
From the London Herald, August 23l
We wish, then, all success to the great Eastern, and
leave her in the hands Of the public, without whose aid
she must even yet turn gigantic failure We trust,
however, that so great q calamity will never occur
WAeher De Ar Lever or any other contractor Of equal en-
first voyage cannot doubt that the public will seize upon
the opportunity for estyng their appreciation OF what
the memorial Of the House of Commons properly describes
Of the nobest efforts Of mechanical skill that has
been produced in this in any other country The
her. is open to the fleets Of all the world In the
pactes of their Ship that is in the result Of their per-
the hopes of the shareholders are placed Beyond
that there is no reason why they should succeed.
On Saturday, August 90 general meeting of the share
holders in the Great Eastern Steamship Company
held at the London Tavern Bshopsgac street. to author
Use the issue of shares the capital Of the company
held in by resolution Of previous meeting, to
consider the proprey Of nsurng the ship and for such
other business as might occur.
Mr. Richards said he had to amendment. He
wished to ask question relative to offer of Mr. Levers
that appeared in the papers to charter the ship and had
been declined by the directors but which ocr haa been
for her first voyage, and not only to pay them that
amount but to coal the vessel and relieve the company
of all trouble and expense OF commission. He wished to
know what the directors thought Of that offer He thought
should be read to the shareholders He did not know
s,t fhnYh hs safe port. He understood 1t pro-
head, and they told now that II Was sayl
effect marine insurance Surprising she should leave
Hoyhead how would the risks of the dangers and diff
cues Of the channel navigation be provided against? The
trial trip would of course be made with all the advantages
weather and everything else Before they sent her
the Atlantic was important that she should be in
sured.
The CHAIRMAN said-As 70 the offer of Mr. Lever, the
directors would have been justified in accepting it,
was The third fourth offer OF similar character that
had been made and others more advantageous might
follow The allotment of the 30 600 shares would have
the effect not only of preventing the noble ship leaving
the river debt but would also enable the directors to
a nnrp t,rttho an,na rnrLp anifa
Mr.. JACKSON NJ r said the fact was that there was
reserve Of some 80 600 4OOOO shares that he and
others had put down their for and if others chose
to take them up there was no harm IN the money coming
out of their pockets as well as his own He was OF
OPINION tnat those VINO had run INC Isk h ukg up ,e
shares should have the premium II was obvious that
before going TO sea the ship should be provsoned and
coaled and the issue of these shares would enable them
to do this. He would not for think OF mortgagng
nsurng the ship when he found the underwriters asked
from FIVE to fifty guneas per cent for months operation
None of them asked less than five guineas cent which
/ was an amount that would soon mop up Mr.. Levers
money supposng the directors thought proper to accept
/ his offer
Mr. RICHARDSON said he should persevere in moving
his amendment "That before the resolution passed
authorizing the issue Of these shares, the letter Of
1 Mr.. TAYLOR seconded the amendment.
Mr. JACKSON said the effect Of this would be TO prevent
Mr.. RcHARpsos-It certainly is extraordinary thing
that the directors state they are without responsibility,
is ready to charter this ship and pay down ready cash.
and yet no explanation Of why 1t Is not accepted given
to the shareholders.
MIR. JACKSON said the offer of Mr. Lever a condi-
tonal one that the ship should 60 speed of l4 knots
per hour The question was, were they in position TO
guarantee the rate of speed not they could not enter
tain the offer Moreover the directors had not had time
to consider the OFFER as the letter from Mr. Lever had
only been received o'clock last night and seen
by the directors till that morning could not be ex-
peced that the directors could decide so important mat
nS be ws
fact if they issued these shares they would only
be in that position, but have considerable balance in
Mr. McnARDsoS-Wii the directors undertake to call
meeting Of the shareholders to decide the question of Mr.
Levers offer being accepted or not before that takes
| placer
Mr. RcHARDs-Then shall persist in my amendment.
Mr.. W. HALVES said he agreed that the company ought
to start their ship in independent position and that
they could not consistently accept Mr.. Levers second
offers as they might have others In sending the ship
out to America "a distance Of 900 mles) there
two skshe risks in leaving the port of departure
and the risks in entering the ports the other side and
there advantages in going much greater dis
tance with additional freights and higher prices.
amendment was that he thought this offer Of Mr. Levere
was very handsome being ready cash for the Of
this vessel Moreover, there any mishap failure
in her first VOYAGE 1t could not then be charged upon the
Board but upon the contractor might perhaps, after
the first voyage of the ship to America not be found
cessary to issue these shares He put II, therefore, TO
the directors in order that they might maturcy consider
Mr. Levers Offer whether would not be advisable for
them to adjourn this meeting for few days Hear hear,
The CHAIRMAN said he thought he might gather from
the gentleman VINO mad addressed the meeting that II
their determination TO abide by the decision Of the
direction; and the direction competent to han
die this question, then they in bad hands He had
heard, from confidential source, that the offer was in
tended to be enhanced by f100 900 E20 600 (Iear
hear) Now there might be partsans of Mr. Levers in
the room-he did not say that Mr.. Taylor was onc-but
he believed there some. (Hear They were there
however to look after their interests do the best
for themselves The Chairman then read the resolution
and amendment and put the question: when there were
only two hands held up for the amendment, and great
number against.
The Insurance question was taken up now, and the
Lever motion seemed 10 be postponed.
from the London Herald (Cty Artice), August 23l
Suboined Ia another letter tho subject or the pro-
posed contract by Mr. Lever charter Great Eastern
understood that he has made fresh propositions increas
ing his money consideration 20 greater extent than ,pns
originally sggeed but the directors at present have not
had time to decide II Mr. Lever can make profitable
adventure out Of the business he will surely be prcparod
70 guarantee an adequate for the Of the vessel on
the route
sRI informed through direct source that the nero
tatons between the Great Ship Company and Mr. Lever
p respecting charrng the Great Eastern progressing
further, that in case the negotiations come 70 nothing
Mr. Lever and his associates prepared to run weekly
steamers at cheap rates. beginning with fine steamer
Golden Fleece IN order To carry the bulk Of the autumn
ra0c Now wish to know The vanity two or three Of
directors who ambitious the Great Eastern s
to be permitted TO stand in the way Of bona de offer from
one already in tho trade with facilities Cor proaur
ard wEosa paer almost sure " give W profit whe % op