The daily morning journal and courier., 1902-04-21
DETAILS OF SHIP COMBINE

1 Continued from First Page.) i course, will be provided, and the profits
 and reserve funds should enable us to l build the necessary additions to our ] fleets While control of the company will be held in this country, it will be a strictly interna tional organization, fos- tering the various companies included in the consolidation, preserving their autonomy and respecting their national and local surroundings.
 '"The object of the combination" con tinued MT. Griscom, lis to try to give
 better trans-A atlantic service at a de- creased cost Heretofore the trade has
 been extravagantly conducted, and we
 propose to operate more intelligently in
 the future We expect in time to oper-
 ate a system of daily departures from
 New York-an innova ton that is real
 necessity.
 There is no political significance in
 this deal. The negotiations have cov-
 cred a period of many years, and I was
 interested in the subject as far back as
 1886. The passage of the ship subsidy
 bill could have but one effect so far as
 the new enterprise is concerned. It
 would enable us to sail ships now build
 ing and hereafter built under the Amer
 ican flag on an equal footing with the
 ships of other countries. The published
 statements that the ship subsidy bill would enable us to sail our foreign ves- sells under the Stars and Stripes are in- correct, as the bill specifically states that only American built ships can ben eft by it's provisions, and, furthermore such course, if possible, is contrary to the whole scheme.
 we have existing only four small vessels that might benefit by the pas sage of this bill, and they are on he Pacific, while in the coastwise trade, in which they are now engaged the pro- visions of the bill would not apply to them After our present mail contract expires the four American trans-Atlan- tic liners of the International Naviga- ton company are eligible for new con- tract either under the present postal law or under any new act that might be passed by congress
 MT Grscom denied the published statement that Liverpool would be abandoned as passenger port He said that question had not been dis cussed. Every port" he said, Twill be developed along the lines to which each port is best adapted We will estab- fish an economic and sensible manage ment."
 MT. Grscom said it was possible the would carry its own insur- ance "The consolidation, declared MT Griscom. Twill result in better service, steadier and more uniform rates, a just distribution of traffic over all American and Cana dian seaports, increased lines on the l Pacific and services to South America as traffic may be found to justify them. l Having lines between Great Britain and Australia and New Zealand and in innate connections with the far east, | American manufacturers will be able | to distribute their products on through ! bills of lading and avoid the expense of ', trans shipments which they now incur. 1
 "The products of the farm will be | shipped from the seaport most conven- 1 tent to the point of production. In a word. it is intended to reduce trans portation charges as far as possible to | every one to improve facilities and the expects to make it's increa sed | profits over the conditions of the nast | from economical management
 ITO what extent these new services will be conducted by steamships built Il this country and sailed under the American flag depends upon congress"