The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-04-16
Atlantic Royal Nail steam Navigation
COnnQnV.

From the London shipping Gazette March %
The second ordinary meeting OF this company held
yesterday at tho London Tavern-ur Macomson 10 the
chair The report stated tina. the present directors VINO
lad come INTO ohce in September last, had since been
doing everything In their power TO improve the fuan ia
position and prospects Of the compiny. They had OBJ
tanned from government suspension Of the clntrac,
I'll the 9th proymo account of the loss OF the Con
naught ana the damages sustained by the Hihernla,
which however would soon be completely repaired. The
Columbia now a: southampton the Anglia would be
Delivered m lew weeks, and they had purchased the
Adriatc, first class vessel BY the modified contract
The company TO deliver the mails each voyage ut st
Johns, Newfoundland, and tho colonial subsidy is to
merge in that from the imperial government % carry
On the company was necessary to raise $500 900 add
tcna capital by the issue of pre- erence ares TO
regard all the loses hitherto much caota
invested The Board hal raised the qualification from
81 0to 10 CO 500 stock rhey had afo taken measures
20 secure better wharf and h2rbor accommodations In
Galway.
The CHAIRMAN moved tho adoption of the report, and in
dong ssd that the directors they han into
Office had had many difficulties financially aud other se,
10 contend against but they bad them with the
termination Of overco them, ADD although they had
not succeeded in converting difficulties int success,
trusted they had laid the foundations or prosperous ~
ure for the company lie trustee that vhcH on the 9th
OF next month, they RECOMMENDED the post, service
they would be able to afford much satsfacli both
tho government add tho pablo, that tey would receive
such accession 10 their traffic would 10 them,
arer the nent OF working expenses 70 keep The sub
sidy clear TO pay Tot only the interest the preference
capital but also within short time 10 pay r,oi ir!
d.nd 10 the original share holders (lIear hear) lie
would not any thing OF the past IL had been unfoF
tunate but there were many companies Low IN pos.
~
ordeal. At all events he hoped whea they next ms.,
10 before them with sauguine anticpstons,
aud results brilliant than they present aSo
20 show. (uear, hear) TIC coul lay much
the prospect they had OF ng telegraphic
cages between Europe and America for II they
p.cted great results They had too entered ncsoi
ticrs with tho srcnch government for kind OF tai
service and although they had yet be brought
C Inclusion the boerA anticipated from tb m che most
sargur results When the American people, rho ,d
introduced the system of elegfaphic COMMUNICATION not
only into their commercial but also their private
arraDFems ns, came 10 know that the company colld
carry their messages 10 and from Europe days,
there IL little eouot but that they vjalt press their
own government TO give the company such support a.
would eusble them r. carry out only ortnigh.ly
communication, but also 70 originate weekly Que Tie
concluded by moving the adoption u the report tn
the losses hitherto sustained should be FOR the re
Earced capital
Mr.. J. :. sTnRlrsG seconded the moti,n
Mr. ADAMS asked IL there not clause in the arti
clee OF association requiring them wind UP thu
papy when they had susta ned .. lcss9
Mr.. VALANCE, the company socitor, said il was alto
gether Discretionary
The notion then agreed 10
The mcetioe having become special,
The CHsuAN moved the creation O. 1900 900 additional
capital by the creation OF fl0 shares with prefere
Of per cent
Mr.. Ropis SOW having seconded the motion,
Mr. SURnG moves, jmeut, that the pre-.
fercnre interest be feven per cent seconded
by Mr. MARs aud unanimously agresd TO; after which
the rrocet dings termi mated In tho usual manner