The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1889-09-11
OCEAN STEAMSHIPS.
"hed by Americans and Sailing Under
the British Flag.

"e" by Americans and Sailing Under
the British Flag.
The New York Commercial Adver
user says On her way to Liverpool il
TIE lnman and International steamship
Clty OF New York. In mid-ocean should
no accident happen to either, she will
pass her tteeter sister ship, the City OF
rarls. Nearly 5000 persons. counting
Steerage passengers, crews and those in
the CABINS, are on the two vessels bound
70 and from America. Both vessels
PROBABLY cross the ocean inside of seven
DAYS and should they meet in mid-ocean
on sunday, by Monday at the same
hour nearly or quite 1000 miles of sea
would separate them.
>, While the wonderful achievements of
tIeSe steamships are watched with the
keehest interest by the civilized world.
com paratlVely few persons know that it
IL American capital that built these
ocean greyhounds and American capital
thaG Is keeping them up to their work.
Inc name OF &. A. Griscom, a Phila-
delphla millionaire, whose business is
banking and the management and comm
ment OF steamships and railroads. an
pears IN certain papers issued by the
Inman and International Steamship
Company as president. The number of
SHARES OF the company's stock held bv
MIR. Grlscom are recorded in the secre-
tary's books in Liverpool. It is said
that he has about $150,000 invested in
each OF the two big steamships. This is
a small part of the whole capital of the
line, but the controlling interest in the
line is held by Americans The largest
stockholders are members of the Stan |
dard Oil Company. Mr. Rockefeller is |
credited by steamship people with no |
less than 100000 worth of the stock.
Mr. Flagler also of the Standard Oil
company, Is said to own the snug sum
OF 81 900 of the same stock, while
many Philadelphians and several more
New Workers are interested to a greater
or less extent.
Whlle the stock is owned and con-
trolled In America and by Americans,
the vessels of the Inman and Interna-
tIonal Line can sail only under the
British flag. 1t is said that it was the
desire OF the Standard Oil people to have
the new steamers built in America and
sailed under the United States flag, but
mat the enormous expense that would
be involved and the arguments used by
practical steamship men dissuaded them.
The lnman and International and the
Red Star Lines are the only large trans
atlantic lines of steamships owned mainly
Oy capitalists in the United States. The
Junard Line is said to be owned ex-
;luslvely by Englishmen, as are also the
White Star and Anchor Lines, the last
named being owned by capitalists in
ilasgow, Liverpool and London.
"A steamship man who is posted about
he affairs of steamship companies said
II the reorganizing of the old Inman Line
nto the present Inman and Interna-
ional:
Several years ago the old line be-
anne involved IN various ways and
ould not compete with the Cunard
md White Star Lines without additional
apltal. Offers were made to sell the
ntlre stock to an American syndicate,
M the stock went be gglng for a pur-
haser. It's even said that the steamships
jIty OF Berlin and City of Chicago were
1ered Tor sale at figure far below the
rlglnal cost and below their real value. :
hen 1t was rumored that the vessels of :
he line had been bought to run between 3
liverpool and Staten Island, where thew {
ONAN NOAAhASSO NAA1CCtly Will DEdnCnGS
ailroads which were to be extended
rom Jersey City, and thus enable pas
engers and freight to go from Liver
DOL to San Francisco with change
rom the steamship to the cars, few
BET away. Erastus Wiman's name was
with the scheme, although .
ven then it was said that the Standard (
Ill Co, was behind the scheme. It is
ow thought that the stock taken up
y. the Standard Oil people was bar e
aimed for by MIR. Griscom, who, in fact,
9cured the bulk which is held by Amer
;ans. In addition to being the presi-
ent of the company, Mr.. Griscom is the =
cad OF the Philadelphia office of Peter
Wright & Sons"
While much is expected of these two
reat steamships in the future, it Is a
ommon report that dividend for the \
ext two years is not even talked of by Il
he stockholders, although the line is
DING very large business at present. =