The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-10-19
A Steamship Enterprise.

WE gave, yesterday, a sketch of the CONNER
cial history of Philadelphia, and in con-
nection with it we cannot forbear urging
upon their attention the claims of an institu-
ton which has done much towards furthering
the best interests of the city, and which gives
great promise of future usefulness in this
respect, if it receives but tithe of the sup
port which is Justly its due. We refer to the
Philadelphia and Southern Mail Steamship
Company, an association whose stock is all
held by our own merchants, and with whose
success their own is in a great measure in
volved. 1t was organized and commenced
operations in the face of repeated failures of
similar attempts, and has at length been
placed upon a stable and highly satisfactory
basis. The amount of capital desirable was
originally placed at 81, 900, 900, but the enter
prise was fully inaugurated when but 100000
had been subscribed, and at this writing it
has been increased to only 1861, 900,
while the expense attending the construction
of the magnificent steamships which it has
placed upon its different lines has amounted
to full $679,000. There is not to be found
upon the broad expanse of the Atlantic feet
of vessels more complete in all their appoint
ments than those of this company. In conse-
quence of the recent disaster, by which the
Tioga was lost at sea, the line to Charleston
has been, for the time being, necessarily
withdrawn; but those connecting with Will
mington, N. c., Savannah, Ga, and New
Orleans and Havana, are still in successful
operation. The New Orleans steamships
touch regularly at the latter port, both going
and returning, affOrding passengers ample
opportunity to inspect the chief objects of
attraction in the capital city of the sever
faithful isle;" while, in connection with the
Savannah line, facilities for through passen-
gers to all points in the salubriOus and health
full State of FlOrid& are afforded. Through
bills of lading for freight destined for all
points in the South and Southwest are like
wise given, rendering unnecessary the trouble
and expense of a reshipment at any point--an
advantage which should not be overlooked by
| our merchants.
The depression in business which always
follows the advent of the Southern summer,
rendered even greater than usual during the
past season by the prevalence of the yellow
fever in the Gulf States, has now been sue
cessfully encountered, and the freights of the
company are rapidly increasing under the
combined influence of the revival of the fall
trade and the subsistence of the epidemic.
But to enable the company to accomplish the
full measure of its usefulness, it is necessary
that It should command reserve fund
of at least 100000. Last spring, an effort
was made to increase the capital stock by this
amount, mere pittanCe in comparison with
the s73, 200, 900 which Philadelphia has in
vested in manufacturing enterprises. About
| $4,000 had been secured, when the further
prosecution of the scheme was postponed
until the revival of the fall trade and the cor
responding impetus which il always imparts
to every branch of business. This season is
now upon US, and 1t becomes our merchants
to make an earnest endeavor to satisfy the
pressing necessities of the Company. The
par value Of the. shares is $3.50, and the CON