THE,NEW ZEALAND STEAM NAVIGATION COMPANY.

Wellington Independent, Volume XVIII, Issue 1965, 3 October 1863, Page 3

THE, NEW ZEALAND STEAM NAVIGATION COMPANY.

Many of our readers who perused with interest the, New Zealanders account of the race between the two '' crack " steamers, Rangatira, of Auckland, and Lady Bird, of Wellington, no doubt felt much gratified that the Wellington boat, though not in the best working condition, yet held her own against her powerful competitor.

We believe it is the intention of the Directors of the N. Z. S.»N. Company, to send the Lady Bird very shortly to Sydney, to undergo some repairs and alterations, rendered necessary by the brisk service she has recently undergone, and it is expected her place will be supplied by another steamer from Sydney or Melbourne. For some time past, the Directors have been in treaty for the purchase of one, or even two steamers from the neighboring colony, and on the recent return of Mr Duncan from Auckland without having bought the Ranga. tira, which be had been empowered to do within certain limits, it was resolved to take advantage of the projected visit to Australia of one of their number, to complete the purchase of one of those vessels, and have it despatched at once to this port. It may therefore, be anticipated that before many weeks are over, an important addition will have been made to our steam fleet.

The large increaseof the Company's business, and the necessity, daily becoming more imperative, for the em ployment of more steamers, has rendered it imprudent to await the arrival of the " Wellington," for which, when she comes there will be more than enough of profitable employment. But to carry on a business of so much greater magnitude than cou'd have been expected by an undertaking scarcely eighteen months in existence, will, we should think, demand * considerable extension of capital. The half-yearly meeting of the Company will be held on the 20th inst, and it is not improbable that a proposition to this effect, will be submitted to the consideration of the shareholders. Judging from the experience of the past, which shows what can be achieved in this branch of commercial enterprise, by a Company with its head quarters in the geographical centre of the Colony, but depending for support on every province in New Zealand we think that every effort should be used to make it worthy of its name — the Steam Navigation Company par excellence of New Zealand.

There is a wide field for future enterprise. On ;the West Coast of the Middle Island there is the germ of a lucrative traffic, but requiring the genii of "steam" for its development. Already Raglan, on our own coast, is a regular port of call, but Purerty Bay and the Bay of Plenty require to be included within the Postal circle that extends from North to South. Clear beads and keen eyes elsewhere appreciate the profits that are to be made in this field, and it will be the fault of the Wellington people if they do not retain the vantage of being, first in it.