A few months later it was ascertained that the Murray was navigable as far as Albury, New South Wales and the Murrumbidgee River navigable to Gundagai. Cadell had carried a considerable quantity of wool and much trade was expected with the Riverina squatters. A gold and silver candelabrum was presented by the settlers to Cadell, with an inscription that it had been presented to him "in commemoration of his first having opened the steam navigation and commerce of the River Murray 1853". Cadell was also presented with a gold medal struck by the Legislative Council, and he joined with William Younghusband, George Young and others in forming the River Murray Steam Navigation Company, whose charter received royal assent in 1854.