THE NEW ZEALAND STEAM SHIPPING COMPANY.

New Zealand Times, Volume XXIX, Issue 4225, 5 October 1874, Page 3

THE NEW ZEALAND STEAM SHIPPING COMPANY.

The announcement will be received with pleasure by the public that the New Zealand Steam Shipping Company, not having disposed of its fine fleet of steamers, will continue to run them in the business-like manner, and with the regard to the interests of the Colony that have hitherto been displayed, and will, at the earliest possible opportunity, have the two fast and favorite boats —the Wellington and Taranaki —fitted with engines on the compound principle. Then, should this prove a success, an alteration of a like character will be made in the other vessels, or new ones of the most improved design will be introduced. Some time ago the Company, which has done eo much to develope and foster, not only the commerce of Wellington, but also that of the entire Colony, sent to England, with praiseworthy foresight, for specifications and estimates of the cost of altering the two vessels that have been named ; but as similar work of a most satisfactory character has been executed in Auckland and Sydney, the local contractors will have the first opportunity of executing the proposed transformation. If they be able, as there is very little doubt they are, to do the work required by the directors of the Company at a reasonable cost, they will have the preference, and the loss of much valuable time will be saved thereby. Their tenders will be received in the course of a day or two, and it is to be hoped these may be of such a reasonable nature that they may be accepted. The history of the steam shipping companies of Wellington, which have so largely contributed towards making this port that of the Colony, has been a singularly chequered one. The first company started with the Wonga Wonga, s.s., and after acquiring the Stormbird, had to be wound up. The directors and proprietors were, really, men slightly in advance of the times they lived in. This is proved by the fact that there scarcely coxild be a more successful company than the present one. The boats are excellently found, it is a pleasure to travel in them, and the time of their arrival at a port, and departure from thence, is known all over the Colony by means o£ the admirable system of telegraphy that has been established. It has been frequently said that a passenger by the Cunard line from New York may order his dinner in Liverpool, and ro'cc versa, with little probability of the equanimity of the cook's temper being disturbed by his want of punctuality. Very nearly the same thing maybe said in the case of a passenger by the boats of the New Zealand Steam Shipping Company who should wish to meet his friends at any principal port in the Colony. The first company bought the Stormbird with the large profits derived from the charters of the Wonga Wonga, by the Government during the war, for the conveyance of troops. But when it collapsed, the new company bought both vessels and also the Ahuriri, the Rangatira, the Wellington, the Queen, and Ladybird. The Queen was wrecked on Cook's Rock in the Strait, in 1867 ; and the Taranaki being wrecked in Tory Channel on August 19, 1868, made it appear desirable to the directors and shareholders to discontinue operations. But then a Wreck Recovery Company was formed, and in twelve months time the Taranaki, with her machinery in almost a perfect state of preservation, but with her timberß rotten, was raised. She was then thorougly repaired, but as the company could not sell her, nor could she be run solus profitably, the present Company was devised. The Wellington was purchased, and then.sold by the promoters to the new Company. Mr. J. Martin, who has taken such an active interest in the affairs of the Company, and whose name will long be associated with it, was at that time running the Phoebe, and he was offered shares in the Company to the extent of the value of that vessel, and the bargain was concluded. The Manawatu was built in Auckland for the Company, and the Rangatira and Ladybird were bought ; the Company assuming its present namo and title. The Phoebe and Ladybird were sent to Sydney, alteredand fitted with newboilers, &c, at an expense of £32,000. The Company was to have had a capital of £16,000, consisting of 1600 shares of £lO each, but not more than 1416 were taken up. How successful have been the operations undertaken ■is manifested by the fact that the property of the Company, consisting of freehold and lea»ehold estate, the barque Ann and Jane, and its six steamboats, is valued at from £BO,OOO to £IOO,OOO. That it may go on and prosper will be the sincere wish of everyone who has the welfare of Wellington and the Colony at heart; and that the directors may at some period be able to add to their fleet steamers as powerful as those of McMeckan and Blackwood, take the Polynesian trade in hand, and contract for tho conveyance of the San Francisco mail, is not an unlikely contingency. Of tho recent attempts to sell the vessels by auction or by tender, little need be said. At the auction sale no sum proportionate to their value was offered. No tender of a satisfactory character was received. Now the vessels will be sent to the various ports in the Colony with the old despatch, and they will be vastly improved in speed. _____________