The Demise of Neptune

Tragically Joseph died, aged only 60 on April 15th 1858. The Waterford Mail of 17th April 1858 described him as the "merchant prince". The paper added, "His firm was we believe, the largest steam-boat proprietors in the kingdom, and their commercial transactions extended to every quarter of the globe".

William, his younger brother was appointed to head the company. William's ventures were not as successful; he lacked his brother's entrepreneurial skills. Shortly after 1870, the Malcomson's businesses empire collapsed due in part to the bankruptcy of their London bankers. To meet liabilities the fleet was sold. The Neptune shipyard was subsequently scaled down to a workforce of just 32 and it was eventually closed in 1882.

The last vessel to be built at Neptune was the steam yacht The Maritana in 1882. It was 77 ft-long and weighed 30 tons and was build for Thomas Leger Atkins of Waterford. The Maritana was magnificently fitted and won the prize for elegance at the Cowes Regatta in the Isle of Wright in 1884.

Audio