The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1902-10-17
WATCH NE 1348

j. flerpont Morgan mas eHecteu
combination OF the shipping interests
OF this country and England. and the
new trust will be known as the Inter
national Mercantile Marine company
II will be capitalized at 100000. 600
and In addition 10 this will issue SIS.
100000 OF per cent bonds. The
amount OF money actually invested OF
represented by the value OF the lines
entering the combine is $4,000. 600
and II this be deducted from the CAPT
talization OF $4,000. 900 and the pro
posed SIS. 200. 900 OF 4 per cent bonds
to be issued q correct estimate Of the
amount OF water" used can be reach
cd. Il would seem. however. that II
any stock is TO be "watered" II should
be shipping stock. for there is rele-
vancy In this that does not exist when
we consider beef, iron and other things
with which so much water has been
mixed TO make them Acc The first
evidence of the effects OF this trust is
found in an increase Of passenger
rates and freight rates between this
country and Europe. In so far as tour
lists are affected by this combine, II
will make little difference, for they are
generally persons who are seeking
pleasure and well able to pay the
price; but when the American farmers
wheat comes to pay higher freight
rate, he will be able TO Judge correctly
OF the blessings that trust AFFORD. for
the farmer, bear in mind, always pays
the freight
But there is an application to be
made outside of the mere question OF
passenger and freight rates to Europe
The advocates of the ship subsidy bill
which is known on the Congressional
Calendar as l34S, claimed that Amer
lea was not known to the carrying
ocean trade because Americans could
not afford to operate ships in competi
ton with Europe when the latters
merchant marine is subsidized and
ours IL not. Mr. Fairbanks and Mr.
Beveridge both voted for the bill, and
1t will come UP again in the coming
session OF congress. What will they
do then? The combination has been
formed. competition with England has
been practically overcome. and the
new trust can and will make rates to
suit itself Will our United States
senators again support the ship sub
sidy bill? The influences that will be
brought to bear upon congress will
be infinitely more powerful than those
OF the las. session, for the combination
the individuals were when they existed
IS such. for 1t will have but one head
and that head will be in position to
give that material aid" to the Repub
lican party in election which consti
tutes its strongest card in the game
of politics. The most important thing
for the American people to bear in
mind is that the campaign for a sub
sidy Is still In progress. and that the
subsidy bill is still pending in the
house Of representatives. Mr.. Charles
Steele, speaking for the Morgan inter
ests. says.
"The interests concerned in the new
combination favor United States sub
sidy bill. Vessels cannot be operated
probably at high speed without sub
sidy, and the action of the British gov
eminent is an argument In favor Of it.
Not only has the new shipping com
bine been so arranged as to prevent
competition between England and
America hut IL ia said an understand
ing has been reached whereby the Ger
man ships, though not In the combine
will maintain such rates as the com
bine makes.