The annexed table, No. 1, shows the routes, distances, and amounts of the existing contracts. Of these, the third route has been recently transferred to Government vessels. From this return it appears that hitherto the company has been paid the sum of £224,525, which, however, has been reduced by this transfer to £209,000.

For the performance of these duties, and the other business of the company, the establishment of vessels detailed in the annexed table, No. 2, is in efficient operation, with the exception of the “Ariel,” recently stranded in the vicinity of Leghorn.

The original project fixed the capital at £1,000,000, but the amount paid up was, and remains, at the sum of £973,378 16s. 8d. In addition to this capital, reserved amounts have been credited, arising from undivided profits, under the heads of “Repair,” “Insurance,” and “Depreciation” funds, amounting to £306,424 19s. 2d., as will be seen by the annexed statement, No. 3.

The balance-sheet of the company, No. 4, shows the last half-yearly expenditure to amount to £238,404 19s.; and the receipts, including the amount paid by the Government for the conveyance of mails, £301,034 10s. 2d.

Some idea of the extent of this establishment may be formed from the following items of expenditure:—

For the half-year ending the 31st March last, the company disbursed for the shipping department alone—

£s.d.
Coal93,56824
Oil and tallow2,687140
Victualling seamen16,501146
Wages to seamen29,38360
Incidental expenses8,114111
Chartering hired vessels6,326120
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£158,581109
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The receipts under the following heads, for the same periods, amounted to—

£s.d.
Passage-money, after deducting the charge formaintenance110,50846
Stewards’ fees1,677168
Freight and parcels72,89499
Conveyance of mails112,262100
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£297,343011
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