The Providence news. (Providence [R.I.]) 1891-1906, 1902-10-02
SHIP COMBINE
Files Certificate Of Incorpora-
ton In Trenton, N. J.

Trenton, n. j., Oct. 2.-The ship COM
bine was Incorporated here yesterday af-
ternoon by the filing of papers amending
the certificate OF Incorporation of the In
ternational Navigation company. which
was filed in June. 1893, with an authorized
capital of si5eoo,o0O
The amended certificate filed changes
the name to that OF the International
Mercantile Marine company, with an au-
thorihzed capital of sl20.0O0,OO0. OF which
one-half is to be preferred stock with G
per cent cumulative dividend. The com
pany is also authorized to issue s15. 900
OF AZ per cent. bonds.
The papers are signed by Clement A.
Griseom of Phifadeipiria az president and
Emerson Parvin. secretary.
New York, Oct 2-The following de-
tails conquering the organization OF the
International Steamship combination
were made public by ]. p. Morgan & Co.
yesterday;
The International Navigation company,
which controlled the American and Red
Star lines OF steamers. has changed its
title to the International Mercantile Ma
rine company and increased its capital
from $l5oo0.oOO to sl2O .0OO half OF this
amount being represented by preferred
shares and the other half by common
shares. There is also an authorized issued
OF $50,0O0.0oo OF Az per cent bonds.
DIRECTORS NAMED.
These directors and committees have
been named:
Directors-c. A. Griscom, p. A. B. Wi
dener b. II. Baker, John /. Waterbury,
George w. Perkins. Il. J. Berwind. James
H. Hyde, Charles Steel Rt. Hon. w. ].
Pirrie. J. Bruce Ismay. Sir Clinton Il.
Dawkins. Henry Wilding and Charles L.
Terrey.
Executive and finance committee-C, A.
Griscom. P.A.B. widener, George w Per-
kins Edward j. Berwlnd and Charles
Steele
British committee-Sir Clinton f. Daw-
kins chairman; RI. Hon. w. j. Pirrie, ].
Bruce 1smsy. Henry Wilding and Charles
+. Terrey.
Mr. Griscom, head OF the International
Navigation Co. is to be president OF the
combination.
Charles Steele, who spoke for Morgan
& Co In the foregoing details, was asked
about certain statements attributed 10
Gerald Balfour. president OF the board OF
trade OF Great Britain, that the new
combination would be dominated by
British interests. Mr. Steele said he
thought that President Balfour intended
TO say that the subsidiary British lines
would be so controlled, which he (Mr
steele) said would be the case.
NO DISCRIMINATION.
II was intimated by Mr.. Steele that an
understanding had been reached with the
British government by which no dis
elimination In favor OF the British ships
will be shown In matters. OF mails. trans
portation. etc. There will be no holding
or securities company In connection with
the new combination.
IL Is a known fact that syndicate
charged with the financial details OF the
combination was formed some months
ago Trustworthy reports also have A. that
q special underwriting syndicate has
been organized 60 purchase the $50 900 900
OF bonds. and this syndicate. II is boliev-
ed. has already paid two ins;allments
each of 25 per cent. or S25ooO.o00 OF the to-
tai authorized bond issue
The major portion OF this amount was
paid In by the American Interests identi-
fed with the combination. 50 that con-
troll OF the bonds will lodge here The d.
rectory Is dominated by Americans al
most two 10 one as Sir Clinton r. Dawr
kins. one Of the English members OF the
main board. is a partner ir the London
Banking house OF J. $. Morgan n Co.
The German steamship lines do not fig
ure In the combination but IL n unofi-
cially declared that working on non
competitive" agreement has been reached
with these companies.