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Rh at short intervals. They will certainly constitute a very important addition to the fleet, but the Company's enterprise does not end in their efforts to provide speedy and luxurious transport from the Orient to America. They are the pioneers in the Hongkong South American Line, for the only communication in this direction, before they established a regular service, was by an occasional tramp steamer or sailing vessel. Their venture has been rewarded with great success, and they now run vessels regularly between Hongkong, Callao, and Iquique, viâ Japanese ports, and call at Mexican and other coast ports as required. The steamers in this service are of 6,000 tons capacity and include the Kasato Maru. The Company also has a service of several tank steamers carrying crude oil from California to the Orient. The president of the line is Mr. S. Asano, who is at Tokyo, Mr. M. Shiraishi and Mr. T. Isaka, are managers of the Company's business at headquarters, while the Hongkong branch is under the control of Mr. K. Matsda, who has resided in the Colony for some nine years, having come as an assistant and being shortly afterwards promoted to his present position. The firm's offices are in York Buildings, and they employ a staff of Japanese assistants which is increasing in number year by year as the business of the Company grows. The new steamers—both those that are now nearing completion, and others that are under construction—are all to be christened with names ending in "Yo" (meaning ocean), and for this reason the Company may be known as the "Yo Line" in the course of the next few years.







of a Century ago there were about 120 steamers under different ownership running out of Osaka to the inland and coast ports of Japan. Competition between them was so keen that, although cargo and passengers were plentiful, the owners suffered heavy losses. At this juncture, in order to prevent a crisis, the Japanese Government advised amalgamation. This advice was wisely acted upon, and resulted in the formation, on May 1, 1884, of the Osaka Shosen Kabushiki Kaisha (Osaka Mercantile Steamship Company) Limited Liability Company, registered and having its head office in Osaka. At first the new Company encountered much difficulty in running the steamers at a profit, but gradually the confidence of the general public was obtained and the Company entered upon an era of prosperity. Regular services with first-class steamers were started to all inland ports and coast ports of Japan, to North China and Korean coast ports, Formosa and South China, Hongkong, and Shanghai, viâ China coast ports, and between Shanghai and Yangtsze ports. This latter service, however, has since been transferred to the Nisshin Kisen Kaisha. Occasional service is maintained between Japan and Java ports, &amp;c. Six new ships are under construction (each over 6,000 tons, and to have a speed of over 14 knots) for a trans-Pacific service which is to be inaugurated shortly. At the present day, therefore, the Osaka Shosen Kaisha may be said to rank among the premier steamship companies of Japan.

The first subscribed capital of the Company was Y1,042,265 in 1884, but in 1893 it was increased to Y1,800,000. The replacing of old vessels by newly built steamers, in order to meet Government requirements in respect of subsidised lines, was completed in 1894, when the capital was further increased to Y2,500,000. In 1896, the Japan-Formosa lines under Government subsidy were inaugurated. The Yangtsze River services were opened in 1898, and the South China coast lines were started in the following year. In 1900 it was agreed by the shareholders to raise the capital to Y11,000,000, and owing to the favourable state of the financial market the scheme was carried out successfully in November, 1904. The present capital amounts to Y16,500,000, of which Y15,125,000 have been paid up. The balance sheet published in June, 1907, showed a net profit for the previous half-year of Y1,059,896.

To meet the Company's ever-widening sphere of activity the fleet has been increased from time to time. In 1884, the Company owned 3 iron and steel and 93 wooden steamers, aggregating 17,056 tons; while in 1907 the fleet consisted of 76 iron and steel and 33 wooden steamers of 108,037 gross tonnage. At the present time 10 steel steamers of 42,450 tons gross are under construction.

The Company has had offices in Hongkong for many years, and Mr. T. Arima, the manager of the branch, is one of the best-known members of the Japanese community in the Colony.





addition to their other widespread business interests, the firm of Messrs. Jardine, Matheson &amp; Co., Ltd., are general managers of the Indo-China Steam Navigation Company, Ltd., and agents for several shipping lines, carrying on a large chartering trade to all ports in the East.

The Calcutta Line, which has been operated for many years, was recently extended to Japan ports, and is run by three new steamers, of which the Kutsang is the latest. She is a thoroughly up-to-date vessel of 4,895 tons, fitted throughout with electric light, and provided with excellent accommodation for twenty-one first-class passengers and a limited number of second. The Namsang and the Fooksang, also providing accommodation for first and second-class travellers, are comfortably appointed modern steamers; whilst there are also two intermediate steamers on the run, the Kumsang and the Laisang. The combined service makes regular trips from Calcutta to Hongkong and on to Japan, giving a departure from Calcutta about every ten days. All Calcutta steamers carry a duly qualified surgeon.

The Canton, Hongkong and Tientsin Direct Line is maintained by the Cheongshing and Chipshing, of 1,980 and 1,984 tons gross respectively, which were specially constructed at home for this service. They have good passenger accommodation and large cargo carrying capacity on a light draft, and are thus able to proceed up the Peiho River as far as the Tientsin Bund.

The Java Line gives a regular service between Hongkong, Singapore, Samarang and Sourabaya, and is operated by steamers of from 3,000 to 4,000 tons capacity. A steamer also runs regularly between Hongkong, Kudat, Sandakan, and other Borneo ports. The vessel on this line, the Mausang, is specially adapted for the handling of heavy timber, this being the principal cargo carried.

The Hongkong Manila Line is maintained by the Loongsang and Yuensang, which give a regular sailing from each port every Friday.