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January, 1927 for transportation between Boston, Norfolk and Baltimore, were very considerable during those four years of civil strife. It was thought that the service referred to, would, in great measure, be a return for the burning of the WILLIAM JENKINS and the loss of our business; but not- withstanding the remonstrances and protests of the directors, and in viola- tion, as they considered, of the agree- ment and statements through which the charter parties were signed, the steamers were retained by the United States government, and in 1865, passed into other hands at_ public sale. Under the names of the SAN JACINTO and SAN SALVADOR, they now run between New York and Savannah. Early Steamers Ordered “In 1864 a wooden screw steamer built by Mr. W. Goodspeed at Good- speed’s landing Connecticut, was pur- chased in New Yerk, before her ma- chinery was all in, and named the WILLIAM KENNEDY. Within a few weeks she had _ received her new boiler and been thoroughly refitted. Just previous to her purchase the FUNG SHUEY had been bought, and again sold at some profit, before go- ing into commission. “The same year, the wooden screw steamer GEORGE APPOLD was built for us in Philadelphia, by Mr. John Lynn, and is still doing excellent service. “In February of the present year (1869), the iron screw steamer WIL- LIAM LAWRENCE, built under contract by the Atlantic Works of Boston, was completed, and began her’ regular trips, and has thus far given great A SUITE ON THE S. MARINE REVIEW 17 Ss. S. CHATHAM LEAVING THE YARD OF HER BUILDERS, NEWPORT NEWS SHIP- BUILDING & DRYDOCK CO., MAY, FROM BALTIMORE FOR satisfaction. This steamer is only partially paid for; but the directors felt justified in incurring a consider- able debt, through the necessity of making the line efficient and of an- ticipating the possible calls of ship- pers. “There is a fair amount of fire in- surance on our four steamers; but the rates for marine risks are such, twelve to fifteen per centum annual- ly, that, with the rapid deterioration S. CHATHAM 1926—-SAILED ON HER MAIDEN SAVANNAH AND JACKSONVILLE VOYAGE of this class of property, it has not been deemed possible to pay these premiums and yet to declare any divi- dends. It is therefore left to in- dividual stockholders to protect their interest by marine insurance, as dis- cretion may dictate. “Ror a year after the war, owing mainly to the unexpected course of the government, the prospects of the company were far from encouraging and its fortunes and property were at a low ebb. But by exertion and per- severance, unanticipated drawbacks have in part been overcome; ... A Permanent Record of Line “Although the writer of this note has. transgressed the powers’ con- ferred upon him, as one of a com- mittee with Mr. Decatur H. Miller, to redraft the by-laws and print them as adopted, in connection with the acts of incorporation, his attempts to pre- serve in a permanent form some memorial of the origin and later for- tunes of the Merchants and Miners Transportation company will be par- doned when it is recollected how dif- ficult it is, after a lapse of a few years, to pick up the threads of even the most simple history; while he alone is responsible for any inaccu- racies, mis-statements, or assertions, which the note may contain.” This document written nearly six~- ty years ago is probably unique in its deliberate attempt to set down for posterity some parts of the his- tory of the foundation of this steam-