Rhode Island American And Providence Gazette

STEAM NAVIGATION.

A public meeting was held in Boston at the Merchants' Hall, on Friday last, at which the Hon. Harrison G. Otis presided, when the Committee appointed at a meeting held previously on the 12th ult. to devise a plan for establishing a Steam-Boat Line between Boston and Halifax, to unite with a contemplated line between that port and Valentia (Ireland); and also for establishing a line between Boston and Eastport, reported that having opened a correspondence with the President and Directors of the Atlantic Steam Navigation Company of London on the subject of the first branch of their commission, they recommend that its further consideration be deferred for the present--as the enterprising citizens of St. John's (New-Brunswick) have already made arrangements for establishing a line between Eastport and Windsor (Nova Scotia) which route, it is thought will be preferred to a direct passage from Halifax to Boston, the distance to Windsor being but about 42 miles, on a good road. In relation to the other and more important part of their duty, the committee found a very cordial disposition on the part of respectable and influential individuals in Maine, to co-operate in the undertaking. The Committee recommend the building of three boats on the most approved model, with powerful low-pressure engines, of a size to accommodate 100 passengers each, and 30 or 40 tons of freight--to leave Boston and Eastport every third and fourth day; each boat to run the whole length of the line, with but few stopping places--leaving the establishment of collateral branches of the line to other companies.--The cost of a boat of the description recommended, is estimated not to exceed $30,000: that in addition to the amount invested in boats, $50,000 more will be required to conduct the business with judicious economy; the whole capital required must be $200,000, if three boats be employed, and $150,000, if two boats only.--The committee, from the investigations incident to the performance of their duty, are convinced of the great importance of the measure proposed to the prosperity of Boston and the towns on the coast of Maine, and that the investment of capital will be a profitable one. They infer this from the success of the line which has been in operation for the last two seasons, though the boats employed were not suited to the service--and from the further fact, that the number of passengers during the last season from Eastport, westward, by that line, and the packets, ranged from one to two hundred per week. This number would be greatly increased by a well conducted line with suitable boats, and the proposed arrangements at St. John's will still further increase it, by the addition of travelling from the Bay of Fundy. Under these circumstances, they submitted a form of subscription, and recommended the following resolutions:

Resolved, That it is expedient forthwith to form a Company for the establishment of a line of Steam-Boats between Boston and Eastport.

Resolved, That a Committee be appointed with authority to adopt such measures as they may deem expedient for obtaining subscribers to the stock.

Accompanying the report was the form of a subscription paper for forming a Company to carry into effect the object proposed in the report. It proposes that the capital stock shall consist of $200,000, in shares of two hundred each, and that assessments shall not be laid on the shares beyond that sum.