Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1902-04-22
GIGANTIC SHIP COMBINE.
Morgan Succeeds in Drawing To
gether All the Leading Trans
atlantic Lines.
CAPITAL TO EXCEED sl5o,ooo,ooo.

Declared That American Interests
VIII Dominate the Proposed ANAL
8amatiOn and Make the United
States the Real Ruler of the Men-
chant Marine OF the Woyla.
New York. April a1.-J. P. Morgan,
who IS now abroad, has practically
contaminated q plan to combine all the
leading transatlantic steamship lines.
London dispatches to the press an
nouncfng the combination were Sat-
uYday confirmed at the Morgan bank
ing house. The companies to be conson-
dated will, it is understood, include
the American and Red Star lines, the
White Star line, Dominion line, Allan
tic Transport line and the Leyland
line. The two last named lines have
been under Morgan control for some
time. Probable additions to this list
are the Cunard, Wilson and Holland
American companies, and It IS under
stood that working agreement" will
be reached with the other leading
transatlantic companies, including
the North German Lloyd, Hamburg
American, General Transatlantic
(French), Allen and Anchor lines.
Mr.. Morgan has given the matter
much Of his time since his arrival on
the other side. In this. country the
more important details have been in
the hands of Clement A. Griscom, OF
the American line, while Charles A.
Steele, Mr.. Morgan's partner In this
city, has had charge of the legal pre-
Einaries.
scope of the Scheme.
It 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 steam
ship companies which propose to enter
the combine will put their stock hold
ings-"pool their issues"-in exactly
the same way that the various con-
Germs embraced in the United States
Steel corporation threw in their hold
ings, receiving in return stock Of the
main OF parent company.
capitalization.
Just what the capitalization OF the
company will be is not yet known. but
the amount is likely to be well in ex
cess Of $3.50, 600, GOO. This phase of the
project will depend entirely upon the
number of steamship companies taken
into the combine. s.,
One Of the most interesting features
of the plan deals with the subsidy
question. The White Star and Cunard
lines receive liberal subsidies from the
British government These subsidies
would be withheld or abrogated 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 doubtless continue
nominally under British control.
American Interests to Dominate.
George w. Perkins, Of j. p Morgan
& Co., is authority for the statement
that American interests will dominate
the proposed amalgamation and de-
clares that the result will prove not
only a great triumph for Mr.. Morgan,
but will make the United States the
real ruler of the merchant marine
of the world. Mr.. Perkins also says
that the plan will be of greatest BEN
eft to importers and exporters as
well as to the great railroad interests
of this country. It's effect will be felt
by shippers from Maine to California,
Mr.. Perkins says, and will also result
in better understanding between the
commercial interests Of this country
and Germany.
Still Further Confirmation.
Philadelphia, April 21.-The an
nouncement that the International
Navigation company had entered the
steamship combination of which j. P.
Morgan is the head was officially con-
Armed Saturday at the office of Pres
ident Clement A.. Griscom, by Howard
Pussy, private secretary to Mrs. Girls
com. The terms of the agreement be-
tween the International Navigation
company, the White Star, Dominion,
Leyland, Atlantic Transport and Red
Star lines, which are included in the
combination, could not be learned
here, the statement being made that
the details are in the hands of Mr..
Morgan and their publication must
come through him.
Heavy Fall Of Snow.
Lincoln, Neb., April 16.-Specials
from western and northwestern Ne
braska points report an unprecedent-
ed fall of snow for April. At Alliance
two successive storms left a foot of
snow on the level. At Kimball and
Cheyenne counties, farther south,