The Montgomery advertiser., 1902-04-20
CAPITAL WILL BE LAREE
American Interests Will D0l1ii-
 nate the Combination.
Morgan Will Act as Syndicate Mana- Shippers from Maine to Cali
 fornia will Feel Effect of Amalgamation.

New York. April 1o.--J. P. Morgan. who is now abroad. has practically consum- mated plan to. combine all the leading trsns- Atlantic steamship lines. London dispatches to the Associated Press an nounciug the combination were today confirmed at the Morgan banking house. The companies to be consolidated. win. t is understood, incude the American and Red Star Lines, White Star Line. Du- minion Line. Atlantic Transport Line and the Lcyland Line. The two last named lines have been under Morgan control for some time.
 Probable additions to this list are the Cunard. Wilson and Holland-American Companies, and 1t is understood that . working agreement will be reached with the other leading transatlantic companies, including the North German Lloyd. Hamburg General Att lantic Transit CFrench) Allen Anchor Lines.
 Scope of Scheme.
 1t Is yet too early to give the exact scope of the scheme, but as now outlined. there will be an American holding to which all the steamship companies which propose to enter the combine will put
 
 in exactly the same way that the various concerns embraced in the United States Steel Corporation threw in their holdings. receiving in return stock of the main or parent company.
 The Capitalization.
 Just what the capitalization of the come pany will be is not as yet known. but the amount is likely to be well in excess of t5o.oooooo. This phase of the project will depend entirely upon the number of steamship companies taken Into the com bine.
 < One of the most interesting features af the present deals with the subsidy qufs- tion. the White Star and Cunard Li.isss receive liberal subsidies from the Britt ish Government.
 These subsidies would bc withheld or sbrogated if the ships of these lines changed their flag from British to Arneri- can. Because of this the ships of the White Star, Cunard and the English suia- sidized companies would doubtless come under British control
 American will Control.
 c. w Perkins of J. P. Morgan X Co. Is authority for the statement that Amer jean interests will dominate the proposed : amaIgamation and declares that the result will prove not only a great triumph for MT. Morgan but will make the United states the real ruter or me mefcndnt fud- rine of the world. Mir Perkins also said that the plan will be of the greatest beue- fit to importers and exporters ss well as to tho great railway interests ofthe eounl try. It's effect will be felt by shippers from Maine to California, Mir. Perkins says. and will also result in a better in- derstanding between the commercial in- tercsts of this country and Germany.
 Morgan as Manager. "It is true" he added. that MT. Nor gan will act as syndicate manager in this combination just as he brought to gether and welded the various interests of the United States Steel Corporation
 The financial deals have been con,- pleted to the extent that cash necessary for the deal has been subscribed It k too soon to speak about the directorate hut let it he borne in mind that control of the company will be held here.''
 Banking interests identified with the proposed underwriting syndicate said to- day that the new company would have q New Jersey charter.