New-York tribune., 1902-04-27
NEWS OF TWO CAPITALS.
LONDON.
MORE SENSIBLE VIEWS OF SHIPPING
COMBINATION
sHIPBUILDING INTERESTS NOT OPPOSED
AFFAIRS QUIET on TIE CONTINENT-
THE APT AND MUSICAL. MORID

AFFAIRS QUIET on THE CONTINENT
THE APT AND MusICAL WORLD.
Copyright 1902: BY The Tribune Associatiur)
Especial TIE Tribune ny French Cable
London. April 26.-There is a sensible decline
IN the Mysteries over the shipping trust The
saner view now prevails that Britannia will
continue to rule the waves, even if the Ameri-
can money power controls the combined
atlantic feet. and that she Will do so because
she has ships and men. whereas Americans only
have organizing power and masses of surplus
capital. There has been great deal of energy
expended in denunciation OF the trust tyranny
hut the soberest writers for the press admit that
Il is utterly impracticahle 10 prevent the sale
Of shipping property when the purchasers are
rich enough 70 offer terms sufficiently attractive
II the British shipping lines had made
hnaton among themselves there would have
been popular outcry against it. The CALLING
thing English pride is that an immense ship
ping pool has been formed by American
banking house, and that the prestige OF the
British money power has waned that for
eigners undertake successfully
finance the greatest industries on land and sea
The time when all nations were compelled
come London TO borrow money in peace
war, and when maritime and industrial
terprises the world were dependent upon
British financial support. has passed An Amer
ican lend the British Government half
the money it requires for fresh issues of con-
soils and effect industrial combinations un-
paraleled in mercantile history. John Bull does
not like these foreign raids upon the worlds
shipping, nor these continuous displays Of
American nnegalomania in organizations and
combinations affecting European industries and
interests but he does not know how he can pre-
vent the operations Of the tremendous money
power especially when directed by master
minds In finance.
There has been no official statement from Mr.
Morgan. who enjoins silence upon every coll
league connected with him in these colossal
transactions, but there is now a general i'm
preston among The shipping offices here that
the issue for sd 100000 has been under
written in America and here for the shipping
combination and that it may be increased
10 f40.G00,000 If the Cunard Line be drawn
IN with several smaller lines, and that the ar
ransement resembles in a general way that
made by Mr.. Morgan in organizing the United
States Steel Corporation. Even if the Cunard
company remains outside, ii is believed that
there Will be an agreement with it as with the
two German lines respecting rates The steam
ship interests Will be -Anfericanized only IN the
sense of being organized and pooled by cap
4tafists of New-Tor1. Chicago and PmlaoeIpha-
THE sbsrhutlding interests Of the United King
son,f ara not displaying hostility 10 the scheme
FOR the men on the Clyde ana lyme ar
counting upon the defeat OF 'he e"i ,
shipnine subsidy and the CONSTRUCTION Oh he"
ships for the trust in British yards humorous
leader writers remind them. however 'hat the
-o,ac,o,,s Morgan may go from one thing to an
other and buy UP all the British shipy yaros De-
fore anybody suspects the game wiser com
-oa-+a.ors assume that the effects OF ruinous
cornnetition may be counteracted by con1hina-
fion and that a further fall In ocean iFeishtS
will be checked and dividends increased The
pessiraists among them go further' ana siiaAe
heads orninously over the extraordinary eApah-
sion Of American interests and organizing
power and wonder how much longer the slsah-
+,c orerarions In one industry after anotner'
largely ON the strength Of borrowed money VIII
last. If the collapse in American buoyancy ana
e,a-vv over comes from sheer excess or over
doing British heads will be wagging in oracu-
lar chorus II told you So Meanwhlle lhere
Is an uneasy feeling that one British interest
after another is being bought up for haTd cash.
and that Americans virtually running thlS
tight little island.
The steamship trust has been a godsend for
the harfpenny journals during stasnant week
in foreign and domestic affairs. Public interest
in the debates in the Commons mas lapsed' NOT
even the discussion of the revival or the o'u-
slime corn duties attracts attention although
their abolition was forced on by the pest or
,a,ized agitation known in English history
A, autumn session for the passage of the educa-
+ion hill has been accepted with bad grace py
the pleasure loving Tory squires. Mr.. MorieyS
,-a,gne-ion over the Cartwright incident, and
Winston churchilrs alertness in copying MS
fathers manner and breaking away from the
T-n;onists as an independent with conscience
have been the only episodes Of dull week
Foreign affairs have seldom been quiefer Inc
Russian measures for the repression OF NlAllist
o,,trages are conducted with the usuai secrecy
+,, +bere is less discretion than is ordinarily
4isnlayed in enforcing the conscrption in Fin
land bv drafts of Cossacks with whips
oueen wilhelrnina's illness has saddened and
alarmed her affectionate subjects She is Flftu-
ally -he last of her race, for the two princes
named as heirs for the succession are 'h"f-
ol1rb,v Germanized and have little to sno" Tor
rbe dirted Orange blood Inherited by theii'
IT.. s1arro,sts naturally draw upon imagna-
tion iu forecasting The absorption OF hoiiand oS
r.errosnv and the conversion of Java and other
Dutch dependencies into German coloiies
Events do not march fast Queen Wiinei-
,,,i,a &C. holding her ground well against
'treacherous disease
Ansr+ from the theatres where there are two
changes Of programme. little is gong on IN
London to-day. The King ana the frihoe va
Wales have witnessed the lacrosse match at
Jora,c Grounds and thereby helped 10 popu-
lar.ze the Canadian game in England LOU
atverstone and the French Ambassador are 'he
chief figures at the evening banquets, ana W
IL Cummings is the chief Saturday lecturer al
the Royal Institution with musical ilins'iauois
Of national songs.
There are two or three art receptions this
tho Apad