However, the company changed its name in 1862 to the British India Steam Navigation Company, Ltd., and notwithstanding its inauspicious start under its old name, it has grown apace and is now one of the principal lines trading between England and the Eastern Hemisphere. The opening of the Suez Canal in 1869, which threatened serious financial loss to the P. & O. Company, proved of great benefit to the British India Company. The P. & O. “for thirty years had built up and depended for existence upon the only traffic which was possible in connection with the transit through Egypt, viz., the conveyance of passengers and goods at rates which were necessarily high, owing to the conditions under which the work had to be carried on. These conditions and the rates depending on them were swept away by the opening of the canal, and the financial consequences were such that for some time the future existence of the company appeared to hang doubtfully in the balance. The company’s work had therefore to be reorganised, and a new fleet procured with what diligence was possible under the adverse condition of reduced, and at one time of vanished, profit.” This extract from the company’s Handbook is interesting, but considering how long the Suez Canal was in building, the company can hardly be said to have made any undue haste in anticipating the coming change. The difficulties of the P. & O. Company, caused by the opening of the Suez Canal, were increased by the objections which the Post Office raised to the use of the canal for the passage of the mails instead of the Egyptian Railway, but it gave way on this point “for a pecuniary consideration, that is to say, for a sensible abatement of the subsidy, which was not an easy matter to arrange at a time when the company was struggling for existence. However, the company made some concession, and it was finally arranged that the heavy mails which were then sent from England by sea should in future be carried by the Suez Canal, but it was not till 1888, when the company had reduced their charge for the conveyance of the mails by nearly £100,000 per annum, that the accelerated mails sent via Brindisi were also transferred to the Canal Route. The company’s connection with the Overland Route through Egypt, which had existed for half a century, was then finally closed.”[74] [74] P. & O. Handbook. [Illustration: H.M. TROOPSHIP “HIMALAYA.”]