Chapter Viii. 314-335

Pacific Steam Navigation Company—First steamer on the Pacific, 1825—Mr. Wheelwright—Obtains a charter, 1840—First vessels, the Chili and Peru—Warm reception at Valparaiso—The Company persevere—Appointment of Mr. Just, 1846—Extension of contract, 1850—Marked improvement in the prospects of the Company, 1860—New lines—Vast increase of capital, 1867—Further increase of capital to 3,000,000l., 1871—Capital increased to 4,000,000l., 1872—Extent of fleet, Iberia and Liguria—Chimborazo, 1871—Too rapid increase—Loss arising therefrom—Modification of mail contract and reduced services—West coast steamer Bolivia—Future prospects of the Company—Trade with Mexico—First line of steamers from Liverpool to Chagres—West India and Pacific Steam Navigation Company—Liverpool, Brazil, and River Plate Steam Navigation Company