THE PROPOSED LONDON AND AUSTRALIAN STEAM NAVIGATION COMPANY.

Grey River Argus, Volume XII, Issue 1236, 16 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 in the English mail news, is obtained from the South Aiutralian Regiiter:— Captain Lawrence, of the Orient liners, has oorteously shown us a copy of the preliminary prospectus which has been isroed in London of the projected passenger, cargo, and mail vessels to run via the Cape of Good Hope to the Australias. The company is to.be named the London and Australian Steam Navigation Company, limited, and it is proposed shall be formed with a capital of a million, in 40,000 shares Of L 26 each. It is intended to reserve an interest to the extent of L 200,000 for subscription in the colonies. The provisional directorate embodies a number of prominent names, including those of Admiral Sir Spencer Robinson, the late Comptroller of the British Navy, and Mr E. J. Reed, 0.8., the late chief constructor; also of members of several important Australian mercantile houses. The v scheme provides for the construction of say six powerful and swift steamers of 4000 tons, each 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 the 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 improvements for promoting economy in wording. It is supposed that the sort of craft needed would each cost between LIOO,OOO and U60,000, and the statement published mentioned 46 days as tbe interval between starting from an English port and reaching the terminus : but Captain Lawrence considers that the estimate is too sanguine, and the limit he would fix would be more like 48 days, within which period the trips he believes could be accomplished. Probably the company will not be formed precisely on the nasu 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 set their hearts upon

something like thiaprojeot, and when such steam vessels as are here proposed do run to and from the mother country, no doubt they will compflte^with the P. and O. Company's ships for the 1 light lading especially that is now monthly carried by the ocean mail steamers, because of the' laying of time. Whether the promoters of the new venture would think it worth their .while to consider the desirability of calling at Glenelg en route remains to be seen, but possibly some inducements could be offered by the soft goods warehousemen and other importers. The consideration of this may seem premature ; but in an age when plans which one day are considered chimerical are next day accomplished facts, it is well to be prepared for contingencies.