The Nome nugget., 1902-04-19
A Merger to Garry Atlantic
 freight Business.
TIE LATEST SCHEME
The White Star, Red Star, Leyland and Atlantic Transport Companies to Form the Nucleus of the Com- bine-Panama Canal Project.

New York, Feb. l6.-A gigantic ship trust, to control the freight trade of the North Atlantic ocean, is the latest scheme from the marvellous brain of J. P. Morgan that is about to be realized. This mammoth enterprise contemplates the merging of the White Star, Red Star Leyland and Atlantic transport companies into one interest, to Ee con nected and operated with the vast rail way properties that Mr. Morgan con trols. It probably will be extended to include the Cunard, Anchor, Allan and Wilson lines before the scheme is put into operation. The power of the com bination already effected will force in dependent companies engaged in Anglo American freight transportation into line or out of business.
 Back of the ship combine, and com inc .almost simultaneously with it, is the possible passage of the ship subsidy bill by the United States congress a measure that would aid powerfully i'll bringing under control of the Morgan merger all the merchant vessels en- titled to the benefits of the subsidy.
 Concdentally and significantly is the additional fact that MT. Morgan's attorney, William Nelson Cromwell, is particularly active in furthering the Panama canal scheme, q scheme that Admiral Walker and other members of the isthmian canGl leOmmission can find no objection to, for they have reported to President Roosevelt and to congress that there is nothing in the way to the requirement. of the Panama route, and recommend the purchase of the French company $ interests on the iSthmus.
 Here. then, are the three great links of the chain that will circle the globe under the Morgan ship trust. Liver pool advices state that the Morgan syn dicate is purchasing the cargo boats Uf the White Star line, while Wall street and shipping circles here in New York will not accept any denial of the eEter- prise. 1t is true that Mr. Hamilton the son-in-law of Mr. Morgan, stated today that certain story as to the de- tails of the scheme was untrue, but neither MT. Hamilton or anyone else would state positively that there was no deal.
 Associated with Mr. Morgan in the formation of this tremendous trust are Clement A. Griscon, president of the International Navigation Company: A. J. Cassatt. president of the Pennsyl- vania railroad; Henry H. Rogers, of the Standard Oil Company; James J. Hill, president of the Great Northern railroad; John D. Rockefeller, William Rockefeller and other millionaireS con nected with MT. Morgan in the vast railroad and producing interests that he represents.
 Some idea of the magnitude of this latest Morgan scheme may be had from the rough estimate that there is tonnage of a million and properties worth half billion concerned. This does not include the Cunard, Anchor, Wilson and Allan-State lines, which may also be absorbed at some time or other. In other words, Mir. Morgan, as the dominant force in the ownership of the Pennsylvania, New York Gen. tral, Baltimore and Ohio and other railroads terminating in New lork, wants to handle the European freight of those roads on tranS-AtlantFc vessels owned by the owners of the railroads.
 Such combination would also mean an advantage in freight rates to the United States Steel Corporation over all competing concerns, not only in this country, but in the world. It would be practical transatlantic freight monopoly. so far as Great Britain is concerned, because the only opposition would come from the North German Lloyd line. the Hamburg American line and the French line.
 After the trust shall have been formed and put in active operation there will be the Anglo-American combination against the Germans, French and Italians in the struggle for the freight traffic.
 The French and Italian lines have no bearing on the British trade, but the German, French and Italian ships would be at sort of disadvantage against an Anglo-American combina- tion with the railroads, the ship sub sidy bill, the great producing interests of Morgan and Rockefeller, and pros pectively the Panama canal back of it,