'TO LLoyD's, Sun,—The undersigned desire to call the attention of those interested, to the following ecole of differential rates of freight charged by the P. & 0. S. N. Co.'a steamer Venetia, carrying a enrgo of the new teas of this season from Hankow to London Fenetia" rates of freight. Freight. eons if first steamer from Hankor 3 ey 2 days in advance of an from Hankow 20th May, 1873. of the Peninsular and Oriental Steam Ni mn Company enjoy a well earned reputation for careful navigation and efficiency, and it is much tobe reyeetted that a Company of such high standing should have adopted a plan which, if established as a custom, will induce racing among Steamers. and unduly endanger the interests of Underwriters, and others, by too reckless navigation, In connection with this subject it is well to allude to the late total loss of the Steamer Drummond Castle on the Island of Chinsan; although the conditions of freight above referred to did not apply to this vessel.
From the evidence produced before the Court held at Shanghai to inquire into the circumstances of the wreck, it can searcely be doubted that, notwithstanding the Captain's statement that he had no instructions from his Owners to push forward; the desire to get her cargo home among the first arrivals and establish for the vessel a reputation for speed, accounts to agent extent for the fuctsthat the Ship was driven at a high rate of speed during a fox in a dangerous channel aot often With such a precedent as the graduated scale of freight originated by the P. & O. Company, it is feared that still greater i centimes to compete for the first place may be held out next year, and the undersigned have been induced to ventilate this subject im" the hope that such a system, which to the underwriter constitutes a large additional risk, may be discontinued when attention is specially called to the dangers which indirectly result therefrom, Jaxvise, Marmesox & Ca., Generat Agents—Canton Insurance Office. Agents—Triton Insurance Compa" riy of Calcutta, Bengal Insurance Society.
Text read from the printed page and cleaned; old type leaves the occasional error.