Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1902-04-24
NORlAN'S GREAT COMBINE
His Plan to Combine All the Lead.
ing Transatlantic Steamship
Lines C~onsummated.
CAPITALIZATION EXCEEDS sl5o, 600, 600
Not Only a Great Triumph, But Wm
Ruler of the Merchant Marine OF
the WOrld-Its Enfect Will he Fell
by shippers in America.

the WOr1d-Its Effect Will be Felt
by shippers in America.
New York, April 2o.-J. P. Morgan,
who is now abroad, has practically
consummated a plan to combine all
the leading transatlantic steamship
lines. London dispatches announcing
the combination have been confirmed
at the Morgan banking house. The
companies to be consolidated will, it
is said, include the American and Red
Star lines, White Star line, Dominion
line, Atlantic Transport line and the
Leyland. The two last-named lines
have been under the Morgan control
for some time. Probable additions
to this list are the Cunard, Wilson
and Holland-American companies
and, it is understood, q working
agreement will be reached with the
other leading transatlantic compa.
MES, including the North German
Lloyd, Hamburg-American, General
Transatlantic (French), Allan and
Anchor lines.
Mr.. Morgan has been giving the mat
ter much of his time since his ar
rival on the other side. In this coun-
try the more important details have
been in the hands of Clement A. Girls.
com, of the American line, while
Charles Steele, Mr.. Morgan's partner
in this city, has had charge of the
legal preliminaries.
1t is yet too early to give the exact
scope of the scheme, but as now out.
lined there will be an American-hold,
ing company into which all the
steamship com .anies which propose
to enter the combination will put
their stock holdings-"pool their is
sues"-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.
JUST WHAT THE CAPITALIZA-
TON OF THE COMPANY WILL BE
is NOT AS YET KNOWN, BUT THE
AMOUNT rs LIKELY TO BE WELL
IN EXCESS OF ONE HUNDRED AND
FIFTY MILLION DOLLARS. THIS
PHASE OF THE PROJECT WILL DE-
PEND ENTIRELY UPON THE
NUMBER OF STEAMSHIP COMPA,
MES TAKEN INTO THE COMBINA.
TION.
One Of the most interesting fea.
lures of the plan deals with the sub
sidy question. The White Star and
Cunard lines receive liberal subsidies
from the British government. These
subsidies would be withheld or abro-
gated if the ships of these lines
changed their flag from British to
American. Because of this the ships
of the White Star, Cunard and the
English subsidized companies will
abtless continue nominally under
British control.
George w. Perkins. of j. P. Morgan
& Co., is authority for the statement
that American interests will dominate
the proposed amalganation, and de.
clares that
THE RESULT WILL PROVE NOT
ONLY A GREAT TRIUMPH FOR MIR.
MORGAN, BUT WILL MAKE THE
UNITED STATES THE REAL RUL-
Err OF THE MERCHANT MARINE
OF THE WORLD.
Mr.. Perkins ALSO says that the plan
will be of the greatest benefit to i'm.
porters and exporters, as well as to
the great railroad interests of this
country. Its effect will be felt BY
shippers from Maine to California,
Mr.. Perkins says, and also will result
in a better understanding between
the commercial interests of this coun-
try and Germany.
sit is true" he added, that Mr.
Morgan will act as syndicate man.
ager in this combination, just as he
brought together and welded the
various interests in the United States
Steel Corporation. The financial de-
tails have been completed to the ex-
tent that all the cash necessary for
the deal has been subscribed. 1t is
too soon to speak about the director
ate Int LOT II ba norma in mind that
control of the company will be held
here"
1t is taken as a matter of course
that the interests TO- prominent in
the various steamship lines will be
taken into the consolidated directory.
Banking interests identified with
the proposed underwriting syndicate
say that the new company would
have a New Jersey charter
Significant U%tterances OF the Pope.
Rome, April 20.-Congiderable i'm
portance is attached to a recent re-
mark of the pope, who, in conversa-
tion with Fir. Lorenzo Perozi, the
italian composer, asked him for news
of his friend, Cardinal Giuseppe Sar-
to, the patriarch of Venice.
'Hold him very dear, Perozi," said
his holiness, "as in the future he will
be able to do much for you. We firm
ly believe he will be our successor"
Cardinal Sarto is an italian. He
was born in 1885, and was created a