I'm with you there,
You never know where you are going to end up.
Quote:
Congress banned ships owned by railroads from using the Panama Canal,
Pacific Mail SS Co.
The Pacific Mail Steamship Company was founded in 1848 by William Aspinwall of the firm of Howland and Aspinwall to execute a contract to carry mail from the Isthmus of Panama to the newly-annexed territory of California. Fortuitously for Aspinwall and his fellow investors, Pacific Mail was ideally positioned to cash in on the Gold Rush of 1849. As a result of this and the high quality of its service, the company became both an important part of the history of the American West as well as one of the most profitable enterprises of its era, with an annual return on investment that ran as high as 30%. Within five years of its inception, the company was running 18 steamers and it peaked at 23 in 1869. In that year, however, the completion of the transcontinental railroad foretold the end of the high profits of the Panama-California route. PMSS also neglected to keep up to date technologically and began to suffer from competition from other companies, especially the Occidental and Oriental SS Company. For a time, the line survived on subsidized mail contracts to Australia and New Zealand, but when it lost those it was soon forced to accept a takeover by the Southern Pacific Railroad Company in 1893. In 1912, Congress banned ships owned by railroads from using the Panama Canal, so Southern Pacific sold PMSS to the Grace Line, which operated it as a subsidiary under its traditional house flag from 1916-25. It was then taken over by Robert Dollar & Co., which merged PMSS into its own operation, although it, too, continued to use the old name and flag on occasion. With the government bail-out of the Dollar Line in 1938, ownership passed to American President Lines, but by this time PMSS essentially existed only on paper. It was formally closed down in 1949 after just over a century of existence.
http://www.theshipslist.com/ships/l...ificmail.htm