[ { "id": 204645, "series_id": 26, "series_slug": "histsyn-rashkb-journal-engine", "series_title": "RASHKB Journal 皇家亞洲學會香港分會學刊", "series_use_hku_proxy": false, "document_key": "RAS-1963", "page_number": 126, "title": "RAS-1963", "content_text": "NAVIGATION ON THE YANGTSE\n\n113\n\ntransport. It was so successful that by 1872 it had a fleet of 17 steamers, had established 9 depots on the river, and found it necessary to increase its capital from Tls. 1,000,000 to Tls. 2,000,000.\" During 1866 and 1867 the Shanghai Steam Navigation Company succeeded in obtaining almost a complete monopoly of the Yangtse river trade, at least in that part of it carried by foreign ships. In these two years the rival American company of Olyphant withdrew their two steamers, Jardine's transferred their two river steamers to the Hong Kong-Shanghai run, and the Shanghai Steam Navigation Company bought the steamers of Dent, Lindsay, and Heard. Their only remaining rivals were two steamers of the recently formed Union Steam Navigation Company, a Shanghai British company. These were not serious rivals to American supremacy, but in five years' time were to be sold to a new British company which was destined to challenge the American near monopoly on the river successfully.\n\nAlthough American steamers were supreme on the Yangtse at this time, and also prominent on some of the coast runs, British trading firms were still the most powerful foreign firms in the treaty ports as a whole, including the three newly opened ports on the Yangtse. British ships were also the most prominent in the foreign trade of China, including that from the Yangtse ports. In 1869, for instance, two British ocean steamers went up to Hankow at the height of the tea season and loaded direct for Europe, and were followed by six in 1870, and nine in 1871.* This, of course, was a serious challenge to the Shanghai Steam Navigation Company.\n\nCompany. Of the Shanghai Steam Navigation Company's 17 ships at this time only five had been built in America, six having been built in Britain, and six in Shanghai; while a good proportion of their captains and officers were British. This, together with the fact that Russell and Company always had a friendly alliance\n\n\"Of the original Tls. 1,000,000 capital about one third was contributed by members of Russell and Company, another third by foreign business men in Shanghai, of whom the majority were British, and the last third by Chinese business men, also in Shanghai.\n\n* Six of their steamers were on the Shanghai-Tientsin run, with calls at Chefoo, and two on the Shanghai-Ningpo run.\n\n? As the result of a triangular arrangement between the firms of Russell, Jardine and Dent, Jardine withdrew to the coast, and helped Dent financially, and Russell agreed not to increase their services on the coast.\n\n* One of these was Holt's Agamemnon and the other the Erl King. After this Holt's sent at least two ships to Hankow each season.", "txt_file_path": "txt/dfo323lmgvd/RAS-1963.txt", "external_url": "https://digitalrepository.lib.hku.hk/catalog/4m90m091v", "rank": 0 }, { "id": 204648, "series_id": 26, "series_slug": "histsyn-rashkb-journal-engine", "series_title": "RASHKB Journal 皇家亞洲學會香港分會學刊", "series_use_hku_proxy": false, "document_key": "RAS-1963", "page_number": 129, "title": "RAS-1963", "content_text": "NAVIGATION ON THE YANGTSE\n\n115\n\njourney by chair. He was the first Englishman to travel by this route, which it was hoped would develop into an important trade route from Upper Burma and West China.\n\nIn 1872 John Swire of London formed the China Navigation Company to trade on the Yangtse, and started by purchasing the two steamers of the Union Steam Navigation Company, following this up a year later with three ships of their own specially built on the Clyde. In this same year of 1873 the China Merchants Steam Navigation Company was formed, a Chinese company partly under government control and direction. This company purchased the steamers of the Shanghai Steam Navigation Company in 1877, and so became the owners of the largest river fleet. A few years later Jardine returned to the Yangtse with the Indo-China Steam Navigation Company, and by the early 1880's the greater part of the Yangtse trade was shared between these three companies: the China Navigation Company, the China Merchants Steam Navigation Company, and the Indo-China Steam Navigation Company.\n\nThe formation of the China Navigation Company in 1872 was a logical development from that of the Blue Funnel Line by Alfred Holt in 1866. Alfred Holt and John Swire were close friends and business associates, and when the latter opened an eastern branch of his company in Shanghai he took over the agency of the Blue Funnel Line ships. One reason behind the formation of the China Navigation Company was to provide cargoes for the Blue Funnel ships to and from the Yangtse. Alfred Holt was unwilling to operate ships so far from his personal control, but was willing to support the Swire enterprise. The inauguration of the Blue Funnel Service to the Far East, the opening of a Far Eastern branch of John Swire and Company in Shanghai in the same year, and the formation of the China Navigation Company six years later, meant the introduction of a new and powerful combination to the China coast. Holt and Swire, in association with the Clyde shipbuilding family of Scott, were soon to play a very important part in the China trade, and in the shipping of the whole of the Far East. Malaya, the Dutch East Indies, Japan, and Australia, were all to come within their orbit before many years had passed.\n\nIn 1881 the various shipping interests of Jardine were merged into the Indo-China Steam Navigation Company, of which Jardine were made permanent managers. For a list of the main shipping companies plying on the Yangtze see Appendix on p. 130.", "txt_file_path": "txt/dfo323lmgvd/RAS-1963.txt", "external_url": "https://digitalrepository.lib.hku.hk/catalog/4m90m091v", "rank": 0 } ]