The age-herald., 1901-04-30
LEYLAND LINE OF STEAMERS BOUGHT J. Pierpont Morgan is Seeking Another Consolidation DEPOSIT MADE ON SALE No Changes Will Be Made at Present. But Will Follow the
 Formal Trans.
 fer.
DEPOSIT MADE ON SALE

London, April 29--The first step in the direction of the consolidation of some of the biggest transatlantic shipping inter chase by J. F Morgan & Go. of the Ley land line Of steamers. A deposit on the purchase money has been paid.
 The officials of the Leyland line, con- hrming the sale, told a representative of the Associated Press that an official statement would be issued by the head of the line tomorrow.
 The line whose fleets will thus pass into the control of the Americans is one of Great Britain's greatest shipping insti- tutions far exceeding the Peninsular and Steam Navigation Company in tonnage and importance.
 The Associated Press learns that the purchase of the Leyland Is tantamount to It's consolidation with the Atlantic trans- port line.
 For the present the Leyland will retain it's name and be under the same manage ment. though changes in the directorate are likely to occur shortly. The result of the consolidation will be a steamship company with the largest tonnage of any company in the world. The report Of the Leyland line for 1900 just issued, says the purchase of the West Indian and Pa- cifc stamship Company has been com- pleted. The company now owns upwards of ss per cent of the capital of the Will son and the Furuess-L ghland lines. Steamers of the value of H000,000 were recently added to the joint fleets. The dl- rectors declared dividend of per cent on ordinary shares, and set apart f37oooO to the account of the reserve fund,
 Sir Christopher Fuerness, head of the Fuerness line of steamers, in an lnter- view yesterday made a striking state ,,an+ concerning American competition. He said:
 .I have just been appointed by certain wealthy and enterpr.sing Americans 10 seek conveyance for 10000 tons or coal to Mediterranean and eastern ports, as well as for general cargo. There IS DIE move on now by Americans to capture our over-sea coal trade, and helped by the new coal tax they will do so. Iney nave excellent coal and have only been hain- pered by the non-possession or sea oaii ing mower. This they are now seeking 10 obtain"
 Sir Chrjstopher Fuesness. former owner of the F,uerness Line, said. "I am op- posed to consolidation because peiie'e if kills competition. MT. Morgan friend of mine, but I believe he would pc wise if he could stop piling up the our- dens. in the shape of millions, for nis children. I do not believe the great con centratjon of wealth in the uniteo states can be for the country's good. Tne ou- nard and White Star Lines are not iikeiy to ioin In any further combinations thal may possibly be contemplated.
 The Daily Mall this morning puphshes an interview with MT. Glynn, director or the Leyland Line at Liverpool, in which MT. Glynn said that the American synal- cate represented by MT, Morgan sought to obtain sufficient of the ordinary snares of the company to give them the rlght to the nomination of two of the directors MT. Glynn explained that the nesotia- tions were incomplete. put that ohiy so th,s extent would the Leyland Line be nnder he influence of the American Line.