The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1866-02-21
CITY INTELLIG ENCE
LFOr Additional Ctty Irtelsgtncs see nm Pagrl

sCr,bers and all interested In the establIshment
of lines OF steamships TO southern ports. This
meeting was called in reference TO the SUM OF
5000, 900 having been subscribed TO the enter
prise, and with the purpose Of securing an addi-
lion OF $4U0, 600 to the capital stock
John Welsh, Esq., was called to the chair,
and George N. Allen was appointed Secretary.
Mr.. Welsh briefly adverted to the necessity Of
establishing steam communication between Phi
lRdelphia and the South.
Mr.. Edward Q. Knight offered the following:-
Whereas, Ihe establishB ent Of lines OF steamships
to tho piInci al por the southern states has be.
come estentla 20 he proper tY OF Philadelphia; and
wheTtas the sg6scsipnons sd Tnd 1no ior tnss pur
ior ne full development OF th9 enterprise and its
successful maintenance therefore
ReyOiVed That deem u of urgent importance
that rubscripiions be OBJ a cd increasing the capital
stock OF the Phi adelpbia and southern Mail steam
Rhlp Company 10 one million OF doais, and recon-
mend that such measures be adOpted on the Organi-
saon OF the company soon 70 take place. as will Sc
Resolved, That we regard tho enterprise as one
deeply involving the uure success of our business
community, and without II a lsrge aud valuable
manuiacturers, merchaGt artisans, and owners OF
real estate to promptly come forward a.d sustain 1t
with their means and personal cooperation.
ResoiVed, That we earnestly icit large subscrip-
irons to the stock by the railroads insurance and
other corporate companies ct Philadelphia, whose
success is depenoPnt that OF our commercial and
manufacturing interests, anS who are authorized IN
express terms by the liberal charter recently granted
By the LeTslafnre Of Penney lvsna to subscribe for
and hold any number OF shares OF the capital sioek
of the company.
Mr.. Cattell seconded the resolution, and advo-
Gated the establishment OF permanent com
merce. Philadelphia held one of the best com-
mercial positions in the country, had great and
unsurpassable wealth OF iron and coal, and had
built up an aggregate of manufacturing esab-
lisbments that would enable her 10 supply the
whole country. In no better mode could
81 ,000 900 be invested than in developing an in-
terchange OF products with the South. Through
out the terrible devastations of the last four
years the industry of Philadelphia was undis
turbed, and she offered shelter and employment
10 all. Philadelphia has great natural and ac-
quired facilities.
She only needs steam communication with the
South and with Europe; and to guarantee the
success of the latter the former must be secured.
We never in the past lacked the means to supply
outward freight to the European steamers; but
we had not the supplies of Southern produce to
complete the cargoes. Every steamer needs
certain portion OF heavy CARGO; hut alter having
obtained that, 1t is most profitable to complete
the cargo with light freighrs. TO obtain these,
even at the present time, Mr.. McHenry's
steamers sail partly laden from this port to
New York, at an expense Of several thousand
dollars, to obtain the balance of more profitable
carriage.
Mr.. Cattell adverted to the fact that it was not
now proposed to build Luxurious steamers for
passenger travel, but comfortable, fast pro-
pellers Tor the STANDARD trade. If the steamers
were proftably and rightly managed they must
pay; but bel ond the mere dollar and cent view,
the cost, If any, would be repaid many fold by
Philadelphia. The held is now open for our en-
terprise, and there never was such favorable
opportunity for the extension Of Philadelphia
commerce.
Mr.. Buzby explained at length the purposes of
the enterprise, and the stagnation that must
result to the interests OF Philadelphia should
her business men be content to sit supinely by
and allow her carrying trade 70 be controlled by
more enterprising rivals whit had grown richer
by the traffic. The people had right to expect
that the corporate bodies located here, the
banks, insurance companies &C., should come
forward and extend their ass stance to this end.
MIR. Edmund A. Souder adverted to the known
fact that many Southern firms are prepared and
willing to do business with Philadelphia ner-
chants, provided they are not subjected to the
burden oil additional transportation to receive
their goods.
Mr. Filming, who has spent the last nine
monthsin the South, travelling through Georgia
Florida, Alabama, and South Carolina, asserted
that business men throughout those districts
were well aware of the manufacturing power Of
Philadelphia, and were Wiling and ready to
transact their business with her If her merchants
would afford the proper facilities.
Colonel Fitzgerald traced the growth of the
great reforms OF the city, and the opposition
each had encountered at the outset The pre-
sent enterprise was no exception, and he trusted
it would achieve as great success as the preced-
ing Ones
MIR. Rene Gpillou humorously portrayed the
advantages to be achieved by the present enter
prise. He ielt 1t should be nsidered not only
subscription.
To the 1--WE Southern ports with which it is
proposed for Philadelphia to communicate.
New York has now running forty fve steam
propellers.
BY the income returns, the prohts Of our citi-
zens ore shown to be but one-third less than
those given in New York, thus revealing that
our city has abundance OF capital 10 use. The
amount OF goods tnst are being constantly
transported from Philadelphia to New York, to
be transshipped eouth, is really enormous and
would astonish all, if figures could be shown.
The West is extending her facilities for manu-
featuring, so that within tsenty Yeas we will
find our markets closrd In that district. The
South alone appears to furnish an opening tC
balance this loss, and If IL S not obtained al
present 1t never will be.
Mr. George n. Allen, Secretary, stated that the
subscriptions were ABOUT 10000. He read
letter from William Sellers ~ Co., increasing
their subscrip ion from 5000 to $4,000, and
letter from Asa Whitney & SJls, increasing theil
subscription to $l0,0O0.
MIR. Souder moved that the Committee OF
Manufactures be increased, Which was adopted
Mr.. Henry Winsor, ageit of New York anC
Boston line OF steamers, doGbled his oClgina
subscription OF S5000 Ma .sey. Collins " Co
doubled theirs, and individually Mr.. Massey cav
S25O0 more Mr. Bazin increased his S2500
Randolph q jerks gave the nnal $1,000 to com
plete the required capital Cf 100000 Mr. Allen
on the part of mis- committee, gave $1,000, anC
for the Jewellers Assoclauol SEQ. James @
Hand Il Co gave $4,000 additional, making $4,000
Several gtntemen aSerted in glad terms Il
the success attending the enterprise, and de
clared they believed there was the dawning OF
brighter day for Philadelphia
Alter the announcement that on this (Wednes
day. evening meeting would be held TO organ
ize the Company, IN accordance with the charter
at the Board OF Trade Rooms, the meeting ao
journed.
OFFICERS OF THE NERO ANrILE LIBRARY
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