Hunter River Steam Navigation Company has ceased to exist, and the Australasian Steam Navigation Company has taken its place, all the assets of the old company having, by a previous arrangement, been transferred to the new one. The new company starts with every prospect of being profitable to the shareholders, and beneficial to this and the neighbouring colonies. Its operations will be gradually extended so as to connect all the Australian" with each other by lines of steamers starting from the different ports. In addition to the boats which have been hitherto running in the colony, three new vessels are now building for the company in Scotland. One of them, the Yarra, is intended for the Southern trade; the second, the Waratah, is intended for the Northern districts: and the third, the Brisbane, is intended to run in the river Brisbane, Moreton Bay. There is no institution in the colony which is more entitled to success than the new steam company. The capital of the company is at present �80,000, but there are provisions in the deed for extending the amount as the increasing trade of the colonies may render it necessary.

Circa 1851.

The Australian Steam Navigation Company's New Steamers

Letters have been received by the Blackwall, from Captain Mackellar, dated 16th August, [1851], intimating that the Company's steamer, Waratah, was launched on the day previous, and stating that she is one of the finest looking vessels that has been built on the Clyde. The Yarra Yarra, was to be launched on the 22nd August, and promised also to be a fine looking vessel. The engines and boilers were nearly completed, and would be immediately put in their places. These vessels are contracted to be ready for sea on the 20th September, under heavy penalties, and were to leave Scotland for Sydney on or about the 1st October. The river-boat Brisbane, come out in frame in one of the large steamers.

P 354 6 Dec 1851.

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