The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-03-08

the commission from the Colonial
Governments co1rctning the proposed
cable across the Pacific. Mr.. Wand
who accompanies Sir Alexander
Stuart, was present. 1t is their in
tention to make application to this
Government for a subsidy Of D per-
cent Of the capital required, that
being the percentage contemplated
to be contributed by each OF the in
terested Governments. The estimated
capital required is $2,l00,0O0. The
route proposed touches Honolulu
and connects with the Fiji Islands,
extending from sydney TO San Fran
cisco. The life OF submarine cable
is about twelve years. The proceeds
of the subsidies will in part 90 to
the accumulation of IL fund for the
renewal of the cable The Australian
Colonies are perfectly willing to
furnish their quota, provided that the
Ground world" rate. are lowered.
The present Eastern charges for
cablegrams are at an average of rs.
per word, but it is desired to decrease
this rate by the transatlantic cable to
as low as IS. Id. per word New Xca-
land, the Atlantic Coast States and
the Hawaiian Government are agreed
and anxious to forward the scheme.
The Dominion of Canada is favorable
towards it, but naturally enough
would prefer to have the cable ter
minus at Victoria, British Columbia.
After the general discussion Colonel
G. l.. Taylor, OF the Board of Trus-
tees, offered resolutions, which were
unanimously adopted, giving the
Chambers cordial endorsement to
the scheme, and roquestin, the Cali
fornia delegation in Congress to use
its influence to assist the progress OF
the project by such means as may be
deemed wise and cXpedicnt
THE OCEANIC COMPANY BUYS THE
TRAMPs."
The "Alta" of Feb. % says: "Con-
firmation Of the report OF the pur-
chase of the Pacific Mail Steamship
Company steamers Icaiandia and
Australia from John Elder e Co. of
Glasgow was furnished yesterday
afternoon by Mr.. c. \. Spreckcls, of
the Oceanic Steamship Company, the
purchasers. Mr.. Spreckels could not,
he said 90 into details Of price and
the trade for which they will be used
at present, but in regard TO the former
William Center, OF the same com
pany said that the amount paid was
considerably less than the new
steamers could be built for. 1t was
the company's desire TO build Ameri-
can vessels and sail them under the
American flag, but to the enormous
difference between cost of construc-
ton and purchase is added the fact
that the proposed new ships, as mail
carriers, would be at the mercy of the
Postmaster-General, who could fix
the rate for mail service to suit his
own views. The business of the
purchase was conducted with Mr..
Pearce entirely by cable, and from
the date the purchase was determined
upon it was pushed forward with as
much energy AS possible. The Mail
Company will relinquish possession
OF both vessels Immediately upon
their next arrival in port. The new
acquisitions make five steamers in
the possession or control OF the com
pany, the three former being the
Alameda, Mariposa and Mararoa.
From another source it was learnep
that the purchase price was some
thing less than 100000 each" Other
reports state that the purchased
steamers will sail under the Hawaiian
flag. Foreign-built vessels are not
admissible to American registry.