Overend, Gurney & Co., then at the zenith of their power, whose reply was:—“We guarantee Messrs. Malcomson Brothers to the extent of two million pounds sterling.” [Illustration: CLODAGH S.S. (new 1903). Waterford Steamship Co., Ltd.] Equally fierce was the opposition in the cross-channel service. Passengers were frequently carried without charge between Liverpool and Waterford, as well as between Liverpool and Dublin. A story is told of a passenger going into the Dublin Company’s office in Waterford, and asking what the cabin fare was to Liverpool. He was told he would be taken for nothing, to which he replied, “That is not good enough; you must feed me as well.” A similar tradition exists with regard to the Liverpool and Dublin service, namely, that when one of the rival companies advertised its willingness to carry passengers for nothing, and to give them a loaf of bread, the other company capped the offer by the addition of a bottle of Guinness’ stout. Not content with carrying the war into the enemy’s country by running horsecars between Waterford and Thomastown, the Waterford Steamship Company placed their steamer LION on the Liverpool and Dublin station, and chartered a steamer from the Cork Steamship Company to run in opposition to the British and Irish Company between Dublin and London. Thereupon, the British and Irish Company chartered a steamer from Langtry’s Belfast Steamship Company to run between Liverpool and Cork, and the Cork Company, as a counter move, placed their steamer MINERVA on the Liverpool and Belfast station. The opposition was maintained with unabated fierceness for about three years, at the end of which time the City of Dublin Company and the Waterford Company arrived at an amicable settlement, each company agreeing to cease opposing the other. The Belfast Steamship Company and the British and Irish Company having now to bear the brunt of the opposition, without the support of the City of Dublin Company, deemed it wise to make the best terms they could with their opponents. Accordingly, the Belfast Company divided the Liverpool and Belfast trade with the Cork Company, and the British and Irish Steampacket Company shared their London and Dublin trade with the Waterford Steamship Company. The Cork Company continued to run steamers between Liverpool and Belfast for several years, but were eventually bought off by the Belfast Steamship Company. The Waterford Company ran two steamers regularly between London and Dublin until the year 1870, when they also were bought off by the British and Irish Steampacket Company. Prior to the City of Dublin Company’s opposition, the Bristol Steam Navigation Company and the Waterford Steamship Company had maintained a joint service between Waterford and Bristol. The Bristol Company’s boat left Waterford on Tuesday to catch the Bristol cattle market, and the Waterford Company’s boat left Waterford on Friday. As a consequence of the low rates which were in force during