The only way in which some lines can run is by getting their stock at half its value and thus having to pay the interest on a smaller sum. The "General Screw Steam shipping Company" is an example. The Company had from the first lost money, although they had nine fine steamers, and were compelled finally to close up and sell out. Mr. Croskey, the United States Consul at Southampton, supposed that they might be put into a new trade and make a living on a smaller capital stock; that is, if the new company should get them at half their value. The transfer was made and the "European and American Steamship Company" was established. Some of the vessels were put into the trade between Bremen and London, Southampton, and New-York; some between Antwerp and Brazil; and some between Hamburg and Brazil. None of these lines have paid, except, perhaps, the New-York, which has had large cargoes of emigrants; and Mr. Croskey freely acknowledges that the new Company would have been ruined but for the Indian Revolt, which enabled him to charter five of the vessels to the Government at good prices, for the conveyance of troops by way of the Cape of Good Hope to India. Had the lines on which they were running been profitable they would never have been chartered to the Government. But like the whole propeller service of the world, this Company took the chances; and it may be safely asserted that but for the opportunities which vessels of this class find for chartering to the Government they could not live on their own enterprise three years. The number of these vessels is now very unnecessarily large; and many of them have been built to supply labor to the establishments, and for taking the chances of Government employment at high prices. Their largest employment results from casualties rather than from the pursuit of legitimate trade. But the business is overdone, even for the English market, when foreign war is rather the rule, and peace the exception. But few propellers are now building; these few being small and intended for the coasting, or the short-line Continental trade, where they will readily pay. (_See page 42 for propeller stock; also pages 44 and 45 for the propeller coasting service._)