The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-06-21
HUGE TRAFFIC SCHHMBI
Company Capitalized at
$4,000, 900 for Freight
and Passenger Trans
portatlon.
FIVE NEW OCEAN SHIPS.
Main Offices in This 0ity-Di-
rectors Elected This Morning
-SewelI in 1t.
FIVE NEW OCEAN SHIPS.

What promises to be the most power
full international navigation company in
existence was organized this morning in
the office of President Charles B. Thurs
ton. of the Je rsey City and Bergen Rail :
road Company, In the Second National
Bank building. on Excnange Place. The
existence of this powerful corporation
was disclosed yesterday by the filing in
the office OF the County Clerk McLaugh-
lin certificate of incorporation Of the
international Navigation Company"
The company is made of Clement A.
Griscom, William Henry Barnes. Alex
ander J. Cassatt. Henry H. Houston,
Benjamin f. Brewster, of New York;
Joseph D. Potts, of Philadelphia. and
General William j. Sewell, eX-United
States Senator and Pennsylvania Rail-
road magnate.
A FAR REACHING SCHEME.
The seductive wording of the articles
OF Incorporation does not disclose the true
inwardness Of the scheme OF these gem
Jlemen who represent millions upon mil
lions of dollars. The incorporation GER
tificate sets forth that the company will
conduct general passenger aud freight
traffic between New York, Southampton,
hifGtDOOi, u1WcA ~ ddo OtnOi GAAOOO
ports, and, incidentally, between New
port and philadelphia.
The coma pany has capital OF $15. 900. 900,
all OF which is paid up. There are Il, 900
shares, valued at 500 per share. The
stock available and to be put into imme-
diate use is made of two classes. namely,
preferred and common stock. or pre-
ferred stock there is $3.50. 900 worth. and
common, $4,000 worth.
This is all that the articles OF incorpor-
atiou disclose but the meeting III Mr..
Thurston's office reveals more and dis
closes mammoth scheme which will un-
doubtedly revolutionize the passenger
aud freight traffic and incidentallv The
CARRYING of mails between the United
States and Europe.
WHO WERE PRESENT.
Beside the projectors of The scheme
named above there were present repre-
sentatives OF the Red Star Line and In
man Line OF steamship companies.
A JERSEY CITY NEWS reporter ap-
preached General Sewell and asked him
the objects of the new corporation,
1--WE propose said he, "to ABSORB, no,
not absorb, but secure controlling in
terest In the Red Star Line and Inman
Lire steamships. and also to own the big
steamers. the City of New York and The
City of Paris.
FIVE NEW SHIPS.
"Beside controlling THESE lines, we
have also given Cramps, the big ship
builders of Philatlelphia, orders for the
construction OF five new ships. The
average cost of the new ships will proba-
bly exceed So. .000G COO each. and we hope Co
have combined in our ships speed, room
and magnficence. We will undoubtedly
huye the finest aud fastest fiset of stsam-
ers crossing the ocean TO lay.
stWe propose controlling, if possible,
tho pusqappar and frGirnt Traffic nj
European posts. Further than this,
can say nothing"
General Sewell was called at this point
by the other members of tue company,
ana at noon the election Of directors was
gone into.