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PT ee eR ee aN Ee ae eM iD ean OUT ML age "IT may say that overtures have been made to us-from time to time to induce us to ally ourselves again with our continental competitors, but the terms suggested are not of a na- ture such as we think the Cunard company could consider. We wish to live at peace with our competitors, but it must be a peace which is based upon that share of the business which the Cunard company is titled to. We trust that good coun- sels will prevail and that the friendly spirit we have shown in our dealings with our competitors may be recip- rocated for the benefit of all. The shareholders may rely upon it that the directors will not make any change in the conditions now exist- ing in relation to its. competitors un- - less they see in such change that the interests of the Cunard company are upheld on a fair and equitable basis. "The shareholders: will have proba- bly noticed in the press during the last few weeks, extracts from Ger-_ man and Austrian papers, containing statements alleging that the company had sold their interests in the Hun- garian-American trade. The state- ments contained in such extracts are incorrect. I may say that our agree- ments with the Hungarian govern- ment exist as they always have done. _ They have not requested us to cancel: the contract, and. we have no reason to think that any _ pressure will be brought against us which would result in any unfairness to the company. The Hungarian | govern- ment is perfectly loyal to its agree- ments, as, of course, is to be counted on, and we have not the least doubt will continue so. "Naturally some curiosity may ex- ist among you as to whether the Cunard company is following the suit of others in going 'to the channel bore tLhat curiosity, | 'trust, will be restrained. Whatever your direc- tors deem best for the success of the company they will surely do, but all our best interests: will be con- served by leaving the matter in abey- ance for the present and making no pronouncement whatever." The meeting unanimously adopted 'the balance sheet, and agreed to the payment of: a dividend at the rate of 5:per cent per annum. In view of the increasing respon- sibilities of the board, it was also decided to increase the directors' fees from £2,700 to £5,000. The Western Transit Co. will equip its new steamers Wm. A. Rogers, Charles Weston, W. B. Kerr, Leland. S. DeGraef and Wm. M. Mills with gaso- line launches. | Ci: 4 -prinzessin TAE. MARINE REVIEW THIRTEEN NEW VESSELS FOR NORTH GERMAN LLOYD. According to a report just receivel by Gustav H. Schwab, the New York representative of the North German Lloyd Steamship Co., thirteen steuin- ers are now under construction for that company. Some of these ships are nearing completion and others have only recently been begun, and will not be afloat for many months. When these thirteen new steamers are completed the entire fleet of the North German Lloyd Steamship Co. will consist of 197 steamers, two schoal ships for the education of officers for the service of the company and 182 lighters and barges, all of which will have a tonnage of 786,510 tons gross register and 599,609 indicated horse- power. ; The report contains some interesting information concerning the Kron- Cecilie, a new express steamer being built for the North German Lloyd by the Vulcan Ship Building Co., of Stettin, which is to -be added to the express service be- tween New York, Plymouth, Cher- bourg and Bremen. This vessel is of 20,000 tons gross. register, and will have an indicated horsepower of 45,- 000. -She will make her maiden trip ta this country in August. The Vulcan Ship Building Co., the report shows, is also building for the North German Lloyd a large passenger and freight steamer of 27,000 tons gross register and 20,000 indicated horsepower. The Lecklenbors. Ship. Building Co. 'in Geestemunde, is building a passenger and freight steamer of the Barbarossa type, of 17,000 tons gross register and 14000 1, Bo P.. The Weser: Ship Building Co. in Bremen is building a passenger and freight steamer of 17,000 tons gross register and 14,000 I. H. P,, and the Imperial Mail steamships Co- ben and Lutzow, both of 9,000° tons "gross register and 6,600 I. H. P. Besides these ships under construc- tion for the North German Lloyd, the Schichau Ship Building Co. of Elbing, Germany, in Danzig, is also building a steamer for the Imperial Mail service to the east of the North German Lloyd, 9,000 tons 'gross register and 6,600 I. H. P. Two freight and pas- senger steamers of 6,000 tons gross register and 3,300 I, H., P. "are being built for the Lloyd by the Vulcan Ship Building Co. of Bremen, and 'two freight steamers of 5,600 tons gross register and 2,650 I. H. P. are being built by the same concern for the Lloyd. The report received by Mr. Schwab also shows that the ship building com- pany of Henry Koch, in Lubeck, is constructing two freight steamers for the China Coast+service of the North German Lloyd, each of which will be of 1,650 tons gross register, and will have an indicated horsepower of 750.. LA VELOCE LINER EUROPA. The newest addition to the fleet of La Veloce liners, the twin-screw steamship Europa, arrived in New York with 100 cabin passengers and 1,800 in the steerage. The vessel left Naples 12 days before on her maiden voyage. That she will prove as pop- ular as the other vessels of the line is confidently expected, as she has been built expressly for the trans-Atlantic service between Italy and the United States and her cabin accommodations are most elaborate. The staterooms are spacious and airy, having two, four ._ and six berths each. The Europa was constructed in the Florio ship yards at Palermo, Sicily, and her boilers and engines were fur- nished by the well known firm of Anusaldo, Armstrong & Co., of Genoa. Her maximum length is 450 feet, maxi- mum breadth, 55 feet, gross. tonnage is 7,000 tons; her, displacement, 10,400 tons. Her engines develop 6,000 horse- power, giving an average speed of sev- enteen knots per hour, which was very satisfactorily proven in her recent trials. OF INTEREST TO IMPORTERS. San Francisco importers of. Euro- pean goods learned with much inter- est of a new 'arrangement entered -into between the steamship and rail- road lines. Commencing on Jan. 1, 1907, all through rates. from European points to San Francisco were changed, in that they were made applicable only by way of Galveston and New Orleans, the through rate not ob- taining by way of New York and Boston. This disadvantage results in great dissatisfaction among San Fran- cisco merchants and in shipping cir- cles generally. However, by a new. arrangement the old rates will be re-established, making the through tates from Europe applicable via New York and Boston. The steamer Byron Whitaker with corn from Chicago, was sunk about 300 ft. below the head of Bois Blane Island in collision with the steamer John C. Gault. Capt. Harris W. Baker of De- troit, immediately undertook the work of raising her with the wrecker Snook. Vessels had no trouble in passing the steamer in daylight, but Col. Davis, gov- ernment engineer, ordered navigation past the sunken steamer to be suspended during the night time.