The times. [volume] (Washington [D.C.]) 1897-1901, 1901-05-04
CAN GET FREIGHTERS ONLY
Morgan Unable to Secure the Big
Express Steamships.
The LeyInnd Line the Only One Oh
tnincd Thus Far-NOthing Definite
Concerning the Negotiations With
the Atlantic Transport Company.

| NEW YORK. May 3-Since the reports
| that the J. 2. Morgan syndicate would
| own nearly everything on the high sea
have not come true yet. and are not like
ly to right away. shipping men are not
talking so much about the enormous feet
that the syndicate will own, and, too.
they are more inclined to deal more with
existing facts than with rumors. The
facts are few, but potent. Taey are these:
OF all the lines that run 10 this port the
Morgan syndicate controls but one. That
one is the Leyland Line. The syndicate is
rumored to have received the refusal of
the Atlantic Transport Line. At the Of
fees of that company this morning it was
said that the line had not been purchased
and that no advices had been received
to the effect that it would be. The Inter
national Navigation Company. which was
also said to have been purchased by the
syndicate. is yet unsold. according to the
| officers of the company. These are a few
facts, and to the conservative shipping
men they mean that the object of the
syndicate is to possess large number of
| freight carriers for trace purposes. pre-
| sumably for the United States Steel Cor
poration, rather than to get control of the
passenger service.
White Star Line. that the ocean trade
cannot be controlled by any one man was
! shared generally today among the men
of the big companies. who agreed that
the scheme to control the trade was pre-
posterous They said they did not be-
lieve that Mr.. Morgan ever had that in
mind. That opinion is borne out by the
fact that not a single line of express
steamships has been connected with the
Morgan syndicate by rumor except the
International Navigation Company. The
Leyland steamships are vessels of moder-
ate speed and are essentially freighters.
So are those of the Atlantic Transport
Line and the Dominion Line of Boston
and Liverpool. Granting that the fast
vessels of the International company were
kept in the passenger service, shipping
men say that the service would not be
affected at ALL To attempt to compete
single-handed against all of the lines now
running express vessels would be too gi-
gantic a scheme even for the Morgan
syndicate, 1t is said, and the idea is made
light of.
Some color has been given to the rumor
that the steamships of the syndicate
would have their home port at Phila-
delphia by the report that the Phila-
delphia Transatlantic Steamship Line
has just been incorporated. That is taken
to meei, that the American shareholders
are rushing TO get stocks in the English
company for the purpose of doing an in
dependent business.
An obstacle to the success of a combina-
tion of freighters is the Dominion Line
of Liverpool and Boston. The line runs
freighters from Liverpool to Boston,
Portland, and Montreal. 1t has been a
friendly rival of the Leyland Line for
some years. The company runs twelve
large steamships, among which are the
Bay State, New England. Commonwealth
and Irishman. They are Of the same
class Of vessel as the large new ships of
the Atlantic Transport Line of the Mime
haha and Ninnawaska type. This is an
English line and is managed by Richards,
Mills & Co, of Liverpool. 1.s
Rumor has it that Mr.. Morgan has
made definite arrangements with the Ley
land managers whereby the vessels will
be run to Portland. Me-. during the win
ter months in which the St. Lawrence
River is closed. and also that Montreal
shall continue to be a port for the line
with Quebec as a port of call. Numerous
other rlmors have been going the rounds.
and one of them said that the new COM
pany which would be made out of the
LeyIand and Atlantic Transport lines had
already rented offices in the Bowling
Green Building. George Bray and +. w.
Gibson were named for important places
in the new company. The rtfinor was de-
clared to be ridiculous today. At the Of
fees OF the Atlantic Transport Company
it was said to be utterly false
No information could be got regarding
further work OF the Morgan syndicate
abroad from the offices of either j. =.
Morgan or the international Navigation
Company this morning. Mr.. Wright, of
the International Line, said that he had
already denied the report of the sale.
A cable despatch from London today
SAYS:
'-The annual meeting of the Leyland
Steamship Company was held today. Only
a score of shareholders were present. The
dividend of per cent on preferred and
8 per cent on ordinary shares was passed
and reserve fund of e370000 was made.
Chairman. Ellerman presided. and deliv-
cred an address. taking a pessimistic view
Of the future Of shipping"