The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-05-03
FIRST STEP IN CONSOLIDATION OF
TRANSATLANTIC LINES.
THE BIG LEYLAND LINE BOUGHT
j. Pferpont Morgan 81 Co. the fur-
chasers-To be Consolidated with the
Atlantic Transport Have
the Largest Tonnage OF any Company
In the world-The Ley land the Owner
of Several Other Companies and n
of Eneland,s Greatest Shipping Inter-
ests.

london, April 29.-The first step in
the direction Of the consolidation Of
some Of the biggest transatlantic
shipping interests has been accomplish
ed by the purchase by j. P%ierpont Nor
gan & Co., of the Leyiand line of steam
ers. A deposit on the purchase money
has been paid.
A representative of the Associated
Press learned that the purchase of the
Leyland Line is tantamount to its
consolidation with the Atlantic Trans
port Line.
Fol- the present the Leyland Line will
retain it's name and be under the same
though changes in the di-
rectorate are likely to occur shortly.
The result of the projected CONSOLE
dalton will be a steamship company
with the largest tonnage of any COM
pany in the world.
The officials in the Leyland Line, in
confirming the sale, told a representa-
tive of the Associated Press that an
official statement will be issued from
the head office of the line at Liverpool
tomorrow. 1t is understood that the
shareholders will receive e14.1Os for
each G10 share.
The Leyland Line, whose fleets will
thus pass into the control Of Ameri-
cans, is one of Great Britain's greatest
shipping institutions. far exceeding the
Peninsular and Oriental Steam Navi-
cation Company in tonnage and inn
portance.
The report of the Leyland line for
1900, just issued, says the purchase of
the West indian and Pacific Steam
ship Company has been duly complet-
ed. The company now owns upwards
of 80 per cent. of the capital of the
Wilson and the Furness-Leyland Lines.
Steamer of the value of e1, 900, 600
were recently added to the joint fleet.
The directors declared a dividend of
6 per cent. on ordinary shares and set
aside G370,000 to the account of the
reserve fund
When some months ago, is was sug-
gested that the line was likely to pass
into the hands of the Atlantic Trans
port people much comment followed
in regard to the effect it would have
on the other British lines as it was
generally felt in Shipping circles that
any such w~ide-reaching shipping ANAL
gamation, in close touch with Ameri-
can railroads, would ave serious con-
sequences for lines outside the combi-
nation.
London, April 30tThe Daily Mail this
morning publishes an interview with
Mr.. Glynn, director of the Leyland
Line at Liverpool, in which Mr.. Glynn
said that the American syndicate, rep
resented by Mr.. Morgan, sought to OBJ
ain sufficient ordinary shares of the
company to give them the right to the
nomination of two of the directors.
Mr.. Glynn explained that the negotia-
tions were incomplete, but that only
to his extent would the Leyland Line
be under the influence of the American
syndicate.
1.-The transfer" said Mr.. Glynn,
concerns the company's interest in the
American, Mexican and West Indian
fleets and Liverpool would not, at
least for a year or two, be affected by
the transfer of shares"
The Daily Express asserts that the
financiers for whom Mr.. Morgan is
acting are ordering ten big liners and
tina the Americans will spend 910, 000,-
600 upon vessels during the coming five
years.