THE UNION STEAMSHIP COMPANY’S PURCHASES.

New Zealand Times, Volume XXXIII, Issue 5521, 6 December 1878, Page 3

THE UNION STEAMSHIP COMPANY’S PURCHASES.

(From the Morning Herald.) It must be to the public of this colony, and especially to the public of this province, matter for congratulation that the line of steamers trading from New Zealand to Melbourne and Sydney has passed into the hands of a New Zealand Company. It had long been felt that such a consummation was to bo desired—prominent business men in this colony considering that the carrying trade between New Zealand and Australia, and vice versa, should be in our own bauds, in order that the protits accruing, and the expenditure in connection therewith, should be kept in our ports j and furthermore, because of the advantages which would arise in many ways by the headquarters of the line being in this colony. It has been a subject for regret that New Zealand has derived so little benefit from this line of steamers, which was drawing a large revenue from our commercial communities, and expending its revenue in Melbourne, hardly anything being purchased for the line iu this colony. The steamers which the Union Steamship Company (limited), have purchased from Messrs. McMeckan, Blackwood, and Co. are, as have been reported, the Ringarooma, the Arawata, the Tarama, and the Albion. The Union Steamship Company (Limited) will retain the use of the Claud Hamilton for a few months, till their new steamer arrives. Meantime, we understand, the present mode of running will bo continued ; but as soon as the new boats arrive it is proposed that each steamer shall make a complete round trip, proceeding from Melbourne to the Bluff, and on up the Fast Coast as far as Auckland, and thence to Sydney. We believe the travelling public will hail with satisfaction the change, and that it will result iu the still further development of the Australian trade. As evidence of the reasonableness of this anticipation, we may point to the Sydney trade, which has been so largely developed by the company during the last twelve months, and which now is understood to give returns of a most satisfactory land. The company's present expenditure at our porta amounts to about £20,000 per month, and although a good deal of the expenditure upon their new line of boats will still bo made in Melbourne, from the fact of its being a terminal port, yet through the company supplying their vessels in this colony and repairing them

here, a further expenditure of £3OOO or £IOOO per mouth will be diverted into local channe. The directors of the Union Steamship Co. (Limited) are to be congratulated upon their latest edition, and it is a favorable auspice that the Albion—the first vessel they have taken over—is coming down a full ship in cargo aud passengers.