The introduction of this subject is not new by any means. Last February the co-operation of this district was in vited by the A.S.P. Co., but nothing practical came of it, partly from jealousy and partly because it was considered advisable rather to have a steamer of our own, than to play into the hands of the Auckland people, more for their profit than ours. Both these objections have now, we believe, been overcome; and, although we may yet have a steamer hailing from this port, we cannot expect it to be such an one as will embrace the traffic comprised in the prospectus now before us. It is proposed to run through boats from Auckland to Napier, calling each way at Poverty Bay. This, together with the “ Star of the South ” filling up her spare time by running down the Coast, would give us almost weekly communica tion ; while the Company guarantees to have one boat at least of sufficient draught to enter the Turanganui river. It is also proposed to open up a trade direct from either Auckland, Poverty Bay, or Napier if necessary, with New Caledonia ; with Samoa and other islands of the Fiji Group ; and the success attending the service initiated by the “ Star of the South” should hold out in ducements for some of the Fiji trade being diverted from Auckland to Poverty Bay and Napier. The prospects of the A.S.P. Company are both cheering and satisfactory. The nett profits since it started 18 months ago, admitted of an interim 10 per cent, dividend being paid on the last half year’s transactions. The balance in hand amounting to £5,864 6s 6d is pro posed to be augmented by offering the remaining unallotted shares to the public at ten shillings premium on the already paid up capital, so as to enable the com pany to purchase additional boats; and Mr. Lodder, the manager, who is en route by the Paterson, hopes to place at least 500 shares between this port and Napier. A deposit of 20s is required on applica tion, 20s on allotment, and the remaining 50s in April next. Considering the many disadvantages under which the A.S.P. 