THE PROPOSED LONDON AND AUSTRALIAN STEAM NAVIGATION COMPANY.

Otago Daily Times, Issue 3250, 6 July 1872, Page 3

THE PROPOSED LONDON AND AUSTRALIAN STEAM NAVIGATION COMPANY.

The following information with regard to the above Company, a reference to which is made to the English mail news, is obtained front the S.A. Register :—

Captain Lawrence, of tho Orient linors, has courteously »howii us a copy of tho preliminary prospectus which haw been issued in London of the projected panaengcr, cargo, and mail vessels to run vul the Cape of Good Hope to the Austral iu.s. Tho company is to be named tho London and Australian Bttsam Navigation Company, Limited, and it is proposed shall be formed with a capital of a million, in 40,000 nhares of £25 each. It is intended to reserve an interest to the extent of £200,000 for aubwriptiun in the colonies. The provisional direc orate embodies a number of prominent names, including those of Admiral SirSpencur Robinson, the latecomptroller of the Bri tialt Navy, and Mr 15. J. Ileed, C.U., the late chief constructor ; aUso of members of aevend important Australian mercantile liousea. The scheme provides for the construction of say six powerful and swift steamers of 4000 tons, Citcli carrying sufficient coal for the whole voyage, yet having room left for 2000 tons of cargo, and ample accommodation for the vessel's company and a large number of travellers of various classes. The ships, it is stated, would be made on tho Clyde by the eminent builders of the Cunard line of packets—a sufficient guarantee certainly for excellence of accommodation combined with comfort, speed, and all the modern i m provemen t« for promoting economy in working. It is supposed that tho sort of craft needed would each coat between £100,000 and £150,000, and the statement published mentions 45 days as the interval between starting from an English port and reaching the terminus ; but Captain Lawrence considers that tho estimate is too sanguine, and the limit he would fix would be more like 48 days, with n which geriod tho trips he believes could be accomplished. Probably the company will not be formed precisely on the biiaia of the preliminary suggestions, but the propositions have assumed a definite shape, and there is a strong probability of the line being ere long established. A number of Victorians have for a long time sot their hearts upon something like this project, and when such steam vessels as are here proposed do run to and from the the mother country, no doubt they will compete with the P. and O. jCompany's ships for the light lading especially that is now monthly carried by the ocean mail steamers, because of the Having of time. Whether tho promoters of the new veaturo would think it worth their while to consider the desirability of calling at Glenelg en route remains to be seen, but pewsaibly somo inducements could be offered by the soft goods warehousemen and other importers. The consideration of this may seem premature ; but in an ago when plans which one day are considered chimerical are next day accomplished facts, it is well to bo prepared for contingencies.