PANAMA ROUTE.

Otago Daily Times, Issue 285, 18 November 1862, Page 5

PANAMA ROUTE.

(To the Mditur of the Daily Times.) Sin,—Havii-g seen vat-io; s articles in your paper later reia i/- tj ha P..u it ait >me Jor mai s/;aiu-r-, an a;.-*, th. t vtiiiou» places were wen iui.&l as c aliuy, statioss, 1 would i>it«}.Oi(; to avo d coa.hig at interven.im- \A •<&*, by procuring ihe following cass of yeses—viz.: — Four semifs, of 1600 tons B M.,wirh 80u Lor.-e-poWer, at a cu.t of £40,000 taci| ••• ... ... ... £16^,000 The working expenses of three vessels (Waving the foui'th for spare service) for tweive liioi.ths ... .„ ... £31,500 Fourth boat's expiMispa per annum .. 2 (JOU Intelest on £lijO,ooj, at 6 p-r cent per .*> a. man .. .. .. -..""" 9,600 Insurance, at o per cent per annum - .. B,OOU Depreciation on four steamer*, at 10 per _ ,ceufc • 16.000 Coal, twenty-four trips, l } lko tons each, at 60s .. .. .. .. 80,640 ' Oil, taliow, waste, &c.... .. ... 2,400 £160,140 SUPPOSED INCOME. 30 cabin passengers, £40, twenty-four trips £28,800 100 second-class passenger.*, £20, twenty four trip^ .. ... 48,000 (xold freight, t,ay twelve trips .. 7,5U0 Cargo, do do do .. .. 6,000 £90,300 Agencies, commissions., &c, 10 per cent. 9,t;00 . £31,300 Three of the above steamers wouM be sufficient to run, leaving one for spare s-ervice; and as the Pacific Company s days of sailing fcm Panama are ou the 9th and 24th of each month, i suppose that th';se days suit the arrival of the West India inuii steamers, so that starting No. 1 st amer on the arrival of the Wtst India one that leaves Southampton on the 17th of Deeeinuer, (say the ninth of Jan-' nary,) start No. 2 boat from New Z«a;asj<i on the 25th of January, No. 3 fr>m Panama Dfch I'ebiuary, No. 2 would iirrive in Panama on the 22ml February, and tims be able to take her turn on the 9th oi Maich. No. 1 would arrive in New Zealand on th>.- GHi of ' eoruary, and thus lie able to take h(;rturnontlie2st!i. No. 3 wou:<l arrive in ft™- Zealand on the tith March, and sail r.gaiu on the *25th thus allowing each strainer eighteen cleir days iu-harbour. And the steamers from New Zealand would meet, the vessel that leaves Aspii;wall (or the Mexican side of the Lsthu.us), for England on the 23rd of each month. Vessels of that eia.~s would make an average of ten km/is per liuur, and make the passage it; tsventy-seve/n or tweniyeight days, and carry sufficient coal for the- entire passage Tiie dates I have given above are not much out, a^ the expenditure allowed is Jaijie, and 1 anticipate the income will exceed the sums put down for it. But as the expenditure cxc eels ilie income by L7u 0;j0, 1 would propose to give the steamers a subsidy uf L7;3,000 per annum. As tiie sum i.f L 30,000 lias been alroady voted by t> c Goveruraent of New Zealand, it fenves only L 45.000 forth. Australian colonies, which I imagine there is no difficulty of obtaining. Trusting tiie tVw hints contaiueil in tbis lelu-r wiil bo the means of inducinfe your readers to give this subject their serious consideration, . I beg to remain, sir, Your obedient servant, Vapohifa. Wellington, 10th November, 1862.