The Providence news. (Providence [R.I.]) 1891-1906, 1893-11-25
PLUCKY M'LEOD.
WHAT PHILADELPHTA OWES HIsf
F0R REvIvISG HER TRADE.
How He Started Line of steamships TO
Europe Now Proposes to Operate
similar Line Prom Boston.

Apropos of tho talk about establishing
a line of transatlantic steamers TO run
from Boston IN connection with
tie New York and New England
railroad il is interesting to
recall President McLeod's plan for start
ing a similar line from Philadelphia In
connection with the Reading railroad
when he WAS the chief executive of that
corporation.
Shortly after he became the head of
the Reading. Mr.. Mcleod, feeling
that its interests were suffering
because it had no outlet tor
freight at Philadelphia. consult ed
with number OF tho leading business
men interested In the commerce Of the
city concerning the organic ltion OF a line
of freight steamers to run to English
ports.
The commerce of Philadelphia was at
such a low ebb, however. that the mer-
chants looked at each other with ominous
glances and shook tier heads dubIously.
They were afraid that the ocean trade OF
tho port was gone b,yond recovery.
The Pennsylvania railroad had for
years diver ed merchandise shipments to
New York and grain shipments
to Daltimtro until few yes
sells cane 80 the Delaware because
they were unable to obtain car
goes; and many OF the business men had
settled down to the belief that it was idle
even to attempt to regain tho lost COM
mcrce.
1t was, therefore, remarked that
the inau5uration OF such scheme
IS Mr.. Mcleod sugs sted would
involve large annual loss.
"lIow much will the deficit DO the first
yeari" Mr.. Mcleod asked OF his gsso-
ciates
Probably 10000 the first year." one
answered.
II will agree % give my personal obliga-
tion 90 make up TO that amount any de-
fcit that may occur In the frat year."
promptly replied Mr.. Mcleod.
Tie proposition was accepted. Mr. Me-
Leod knew full well that with an alliance
he had In view with the Lehigh Valley he
could deliver to the steamers sufficient
freight from the start TO make expenses,
and that there was little risk in the
undertaking.
A line OF steamers known as the North
Atlantic Trident line was soon put in SER
vice, and in short time the
most sanQuinc hopes of the
tiou Of the steamers not only attracted
much freight by way Of the Reading lines,
but it also. by creating ccnpetion, forced
a recognition of the claims OF the city of
Philadelphia, with the result that other
lines were compelled TO send there thou
sands Of tons of freight that had previ-
ousy been diverted to Baltimore and
New York.
Vessels which had been ischewing the
port for years began to return. The ship
ping interests of the city. which had been
languishng, growing less each year. took
on nsw life. and the marine trade, particu-
larly grain shipments, was expanded
enormously.
The North Atlantis Trident line was
established in 1883. That year the corn
receipts at Philadelphia had fallen to
2.913,9 bushels, but in the sue
ceed.ng year, 1889. they expanded to
5.06o,5 bushels; to 1794o, $50
bushels in 1890, and to 22,279, ,40C
bushels last year. Wheat receipts
also showed similar gains, whils the total
Of all exports increased from SOS, ,0ia. $40 in
1883, when the North Atlantic Trident
line WAS started. to s6) ga. .02i last year.
1t is to be hoped" said leading Boston
me Chant yes erday, "rhat the report is
true that President Mcleod OF tie New
York and New England contemplates
the establishment: OF trans
atlantic line Of steamers for an
outlet for the thousands OF tons of
New England produces which are now de
verted TO New York for shipment. It's to
be hoped that he eau so strengthen his
company that it will acquire in the inter
est of Boston, ns we'll as in the interest Of
the Now England line at least a fair
shars OF this traffic which has been alb
sorted by corporations with no interest
in common with the interests OF Boston,"