THE PANAMA MAIL SERVICE.

Westport Times, Volume III, Issue 429, 15 December 1868, Page 2

THE PANAMA MAIL SERVICE.

It was intimated by our telegraphic correspondent at "Wellington, a few days ago> that the steamer Eakaia would probably be the last of the Panama Mail Company's steamers which would leave Wellington. ' The news is confirmed both from Wellington and from Sydney. The Independent, which naturally shares the feeling which must prevail in "Wellington, where the withdrawal of the steamers will seriously affect trade, writes thus on Tuesday last: — "It is with feelings of more than ordinary regret that we have this day to announce that the Eakaia is the last steamer which will go to Panama from these colonies under the auspices of the Panama, New Zealand, and Australian Eoyal Mail Company. "We understand that the PostmasterGeneral was yesterday officially notified of the fact ; but what action he will take in the matter, or whether he will take any action at all, is not at present known. Theinformation would doubtless be gratifying to the Government in its present financial embarrassment, and doubly gratifying to Mr Stafford, seeing that the stoppage of the Panama steamers will prove specially injurious to Wellington. With the exception of the P. and O. Company, all the steam companies that have undertaken the Australian mail service have been heavy losers. We need not be surprised, therefore, that the Panama Company, which heroically inaugurated altogether a new route, has failed. Such an enterprise required years to render it profitable to the shareholder?, who could only be expected to look at it by the amount of the dividends it returned to them. The immediate cause of its failure, however—if the information we have received is reliable—was the bad management of the Eoyal West India Mail Company, which, in the opinion of the Sydney Morning Herald, might almost be said to have virtually killed the Panama Company; and seeing that the new line was a branch establishment conducted without risk and expense to itself, such conduct was short-sighted and ungenerous." We observe by the Sydney papers that the steamer Mataura will steam direct to England by the Straits of Magellan and Eio de Janiero, from Melbourne, about the Bth of January. She will take such passengers, merchandise, and gold that may offer. The Herald says :—" For the last two or three months the number of passengers has been insufficient to justify the continuance of the line, probably resulting in part from the want of confidence occasioned by the prevalence at one time of yellow fever, and subsequently by the recent earthquakes and hurricanes. We very much regret the termination to a spirited enterprise which has been so well conducted, and hope that means will be found hereafter to renew it with brighter prospects and better success."