Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1861-02-27
B. W. BEDFORD, Secretary.
Formation of a Steamship Line Be-
tween BeIgluai and the southern
from the Precursor. Of Antwerp, Of Feb. 4
- ~. - u. -.----

SEaHess
translated from Che Precursor. OF Antwerp, Of Feb. l..
for the New York Heraid.l
The establishment Of regular steamship lines
between Belgium and certain portions Of the
New World, has long been a popular project.
Many attempts to connect Antwerp with New
York have taken place within the past twenty
years. They have not been successful for
reasons which it is needless TO mention. No
cause, however, has been given for discourage
ment, and the tine has rome to make new e.
forts. Government and see the ne
cessitv Of it, and it is TO be hoped that the
establishment Of a regular line Of steamships
between this rort and New York is not far
distant.
But New York is not the only point Of The
United States with which IL is desirable to
maintain commercial relations. The Southern
States aspire also to have their steamship
lines, and to place themselves in direct com
munication with this country. Negotiations,
in which the plsnteTs took the Initiative, have
been on foot for many years and have arrived
at a successful termination, and it is believed
that q steamer will soon be running between
Antwerp and Savannah.
A company has been organized under the
name Of the Belgic-American company, for the
development Of direct with the
Southern States Of the United States Of Amer
lea.
To aid this project the General Assembly Of
the State of Georgia, at its session Of the 18th
Of December. passed a law, the principal pro-
visions Of which are as follows;
The ~secietv, created for a term Of twenty
five years, snall enjoy domiciliary rights on the
territory Of The State of Georgia, and Of trad
ing, purchasing and selling merchandise there.
Thew shall also enjoy all the commercial
rights and privileges Of citizens Of the State,
and on equal terms with them, 20 build, pos
ssss, hold and freight sea-going vessels pro-
PEELED BY wind and steam, ard, also, to pos
sess and use such qusys and lots Of ground
bordering on the river 10 the city Of Savannah
OF In any ports Of the State Of Georgia that
may be desirable, necessary or slitsble to the
carrying out OF their operations. They shall
have the right Of alternating and disposiHg Of
such property as we have Just mentioned.
country. They shall have a common seal and
signature for all papers used 10 the transpor-
tstiou Of merchandise, products of every kind,
and passengers between the port Of Savannah
OF other ports Of Georgia and that Of Ant
werp OF other ports in Europe as they may.
deem proper.
The directors and managers Of the company
will proceed as soon as they deem /. opportuRe
TO the undertaking OF the enterprise, conform
ably to the regulations and provisions Of the
decree Of the King Of Belgium Of June IS,
1860.
The company, when definitely organized, is
empowered to issue stock shares for the sum OF
! two millions Of dollars-each share at the rate
Of twenty dollars, though they shall be priVi-
legged to issue them at one hundred dollars or
more. These terms will be offered to the citi-
zsns Of Southern States, on condition that each
share Of twenty dollars shall represent one
vote, and that in the election of directors and
/ managers no shareholders shall have more than
one hundred votes, and that the provisions Of
the statutes OF the company which may be In
conflict with those proceedings shah be bar
moDized with them. TIE shares thus issued,
tie State Of Georgia guarantees the interest
upon them at the rate Of five per cent. for FIVE
wears. A sum Of $780, 600 Is thus annually
appropriated by the State, upon the following
conditions:
In the first place a commissioner will be ap-.
pointed by the government to examine the re-
sponsibility, resources and organization of the
company, its standing, and the means With
which it is prepared 10 carry out the intentions
and provisions Of the contract. He will make
a return OF the number Of vessels at the dis
possl Of the company as well as their style Of
build and capacity. If, after obtaining this
Information, he is convinced that it would be
to the real interest Of Georgia to establish the
line, clothed with its full powers the governor
shall guarantee, through the agency % the
san commissioner, the payment Of the inter-
est above stipulated.
The annual net gains Of the enterprise will
be deducted from the sum Of 100000, and If
the net gains should exceed the sum such sur
plus TO be equally divided between the State Of
Georgia and the company, and it is claimed
that this would maintain the line. Things
would be so arranged as t~olinsure a monthly
arrival and departure from Savannah or sons
other port within the limits Of Georgia.
Such are the principal intentions Of the law /;
the others are but Of secondary Importance.
There is a certainty Of favorable conditions,
enterprise, IL It is conducted with intelligence
and economy, as the basis on which it rests its
operations is well prepared, which ia a very
essential point.
It is unnecessary to enumerate the advan-
ges which will result from it. They cannot be
other than very considerable to trade and
commerce.