New-York tribune., 1902-05-09
THE OCEAN COMBINATION.
BRITISH INTEREST IN THE PUBLISHED
AGREEMENTS
"A BUSY PERIALIST-FUNERAL OF BRET
HARTE-OPERA AND DRAMA
Copyright. 1902: BY The Tribune Association,

HARTE-oPERA AND DRAMA
Copyright. 1902: BY The Tribune AssociationJ
Especial The Tribune by Cabel
London. May Q. l a. m-The greatest possible
interest is taken in the publication of the texts
Of the agreements between Mr.. Morgan and the
steamship companies which have entered the
great shipping combination It is noted that the
companies concerned are the White Star the
Dominion. the Atlantic Transport, the Leyland
and Richards, Mills & Co. The Cunard Line
does not appear in the list. but the belief still
exists that it will eventually be absorbed The
object of the agreements is stated to be the
acquisition before December 81 of the maritime
properties and business companies by a corpora
1ion organized by J. P. Morgan 6, Co. under the
laws Of the State of New-York or any other
State of the American Union. From this fact II
IS inferred that the White Star shareholders
will al the forthcoming meeting. be asked to
assent TO the complete Americanization of their
property. AS has been announced in this
column, the total capital Of the new corporation
IS Sl700000O0 of which S60O00o00 is 10 per
cent common stock. S60,0O0,0o0 6 per cent
cumulative preferred. and S50o00000 is to
be 4h per cent debentures. The valua-
tion Of the properties TO be acquired is fixed
at ten times the net income Of the companies
for the year 1900.
There is a good deal Of comment on the an
nouncernent of what the Morgans receive for
their services-S5O 600 900 in debentures 50, ,5OO-
900 in preferred stock, and S25.OO0oO0 in COM
mon stock But perhaps the agreement which
attracts the most notice is the one with Har
land & Wolff by which that Belfast firm will
obtain all the orders Of the trust for new ships,
engines and repairs that may be required out
side Of the United States, while Harland &
Wolff agree not TO build ships for any company
outside the trust except the Hamburg-American
Line for ten years. Mr.. Pirries hand is seen in
this arrangement
Notwithstanding Mr.. Pirries statement al the
Canada Club dinner last night that there was
no Justification for Englishmen looking with
apprehension on what was taking place, there
is q tone of uneasiness and anxiety in every one
of this mornings editorials on the shipping
trust Most OF the papers agree that the White
Star Line has been bought. lock, stock and bar
rel The Standard" fears that Mr.. Morgan's
action may be creating a precedent. What"
it says, is TO prevent the process which is
applied TO the White Star Line from being ex-
tended to other British fleets, to the Peninsular
and Oriental, Orient, Union Castle and the
rest? The Morning POST anticipates revolt
Of the English people against the tyranny Of
money. and The Chronicle sums up the stu
alton in Mr. Carnegie's words, "It is dividends
that count" The Daily News" regards the
affair as a memorable humiliation for the great
seagoing power and this is the view that the
country generally is likely to take.
The Toronto lacrosse players go on from vic
tory TO victory. Their Cheshire adversares,
though strongly represented yesterday, were
beaten goals to ?.
A deputation from the Liverpool Chamber of
Commerce, the Mersey Dock Board and other
local bodies waited upon Lord Strathcona yes
terday afternoon to urge the claims OF Liverpool
the terminal port in England for the pro-
posed fast Canadian mail service. The
High Commissioner promised to lay the argu-
Tnents which had been addressed to him before
the Canadian Government
That ardent fmperialist Colonel Denison, Of
Toronto, is not letting the grass grow under his
feet in furtherance of his mission on behalf of
the British Empire Defence Fund. He addressed
a newspaper society on Wednesday night and
the Canada Club last night, while on Sunday he
lunched with Mr.. Chamberlain and yesterday
with Lord Rosebery.
The funeral of Bret Harte took place yester-
day in Frirley Churchyard, Surrey. Only
small number Of friends and immediate relatives
were present but number Of beautiful wreaths
were sent. including floral tributes from Mr..
Astor and the Dowager Countess of Shrewsbury.
The opera season. which opened at Covent Car
cen Theatre last night with "Lohengrin,' prom
ises TO be the most brilliant that London has
known In many years The King has taken box
for the season and present last night with
the Queen Princess Victoria of Wales and the
Prince and Princess Charles Of Denmark His
Majesty was enthusiastic in praise of the sing
ing Of Nine Nordica and Van Rooy.
The Playgoers' Club competition prize play'
"The Finding Of Nancy" was performed yester-
day at a special matinee at the st. Jamess
Theatre in aid OF the Actors Benevolent FUND
The play was written by Miss Meta Syrett and
was deemed the best Of forty examined by
committee of earnest playgoers. II deals with
the sex problem from the point of view or
lonely, ,self-spprorting woman. Some of the scenes
are pathetic and the dialogue is witty and cpl
grammatic, but Miss syrett leaves the question
pretty much as she finds -. Miss Lillian Brafth-
waite in the leading part. scored Veritaoie
triumph. The appearance of Beerbohm Tree IN
a part that had not been given a single line
caused much amusement. George Alexander
who also assisted had not much more to do.
The production was enthusiastically received
by a crowded and fashionable house.
THE SHIPPING AGREEMENTS.
PROVISIONS OF THE SALE OF THE TRANS