The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-04-30
OF LBYLAND LINE


purchase, nothing will be settled till
return from the United States in June"
Mr.. Baker will sail on Saturday. The
result of the projected consolidation
will be steamship company with the
: largest tonnage of any company in the
world.
The report of the line for 1900, just is
sued, says that the purchase of the
West Indian and Pacific Steamship
company has been completed. The
company now owns upwards of SO per
cent. of the capital of the Wilson and
the Furness- Leyland lines. Steamers
of the value of ;e1,000,00O were recently
added to the Joint fleets. The directors
declared dividend Of per cent. on
ordinary shares and set aside G37O,000
to thee account Of the reserve fund.
The Leyland line, whose fleets will
thus pass into the control of Americans,
is one of Great Britain's greatest ship
ping institutions, far exceeding the
Peninsular and Oriental Steam Naviga-
ton company in tonnage and impor-
lance The success of the line Is known
to be due to the efforts of Chairman
Ellerman, and the syndicate has stipu
lated in the agreement that he shall not
again engage in the transatlantic trade.
When, several months ago, it was
suggested that the line was likely to
pass into the hands of the Atlantic
Transport people, much comment fol-
lowed in regard to the, effect 1t would
have on other British lines, as it was
generally felt in shipping circles that
any such far-reaching shipping amalga-
nation, in close touch with American
railroads, would have serious conse-
quences for lines outside the combina-
ton.
New York, April 29.-The purchase of
the Leyland line of steamships by j. p
Morgan as reported by cable this
morning, was apparently news to men |
at the local office of the company. Ley |
land agents said the company is buying |
up all the lines 1t can.
1t was announced that the company |
has just made a contract with the Till |
nois Central railroad for additional +
ocean tonnage from New Orleans. BY !
the terms of the contract the Leyland !
line will furnish four steamships a /
week out of New Orleans for Liverpool |
tract was made after Michael Morgan, |
general manager of the Leyland line, |
had come to this country from the main /
offices in Liverpool and studied the In |
dustrial and mercantile condition be-
tween Chicago and New Orleans, and |
he and Second Vice President Hama
han, of the Illinois Central, made the I
terms of contract.
The Leyland line operates steamships
in connection with the Illinois Central |
railroad between New Orleans and Lon
don. and recently the relations of the |
two corporations were made closer by
q traffic arrangement which did not in
volve any financial Interest by the rail-
road company in the steamship COM
pany. Whatever the basis of the pres
ent report of purchase, heretofore the
Illinois Central, unlike many railroads
reaching tide water, has had no direct
financial relations with any steamship
and has never even made
contract with any steamship company
for the operation Of vessels from New !
Orleans to any port. The company re-
Gently stated in explaining its policy,
that, without entering into any alli-
all lines alike, under substantially sim
liar circumstances, found no difficulty
to get vessels to run to our wharves at
New Orleans 1t reports sailings from
New Orleans as about 140 vessels a
month.
Sixty-five vessels compose the fleet OF
the Leyland line, and most of them are
In use on the transatlantic routes, be-
sides which there Is a Mediterranean
line to Liverpool, this latter doing
heavy business,
From this country there are seven
lines: Boston to Liverpool, Boston to
Portland, Me, to Antwerp,
New York to Liverpool, Quebec to
London, New Orleans to London, and I
New Orleans to Liverpool These New
Orleans lines call at several West In
lian ports. All the lines do chiefly a
freight business, only the later addi-
tons to the fleet having any extensive 7