The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-20
Capital Of Parent Company Will
Be in Excess of $3.50, 600, 600.
OTHERS LIKELY TO COME in.
Those Nov in Consolidation.include the
American and Red Star Lines. White
Star Line, Dominion Line, At
lantie Transport Line and
the Leyland Line WILDE
Controlled on this side.
tBy Associated Press

NEW YORK, April 19.-J. P. Morgan,
who is now abroad, has practically con-
s,mmated combine to control all the
leading transatlantic steamship lines
Lc1don dispatches to the Associated Press
announcing the combination were today
c. nfirmea at the Morgan banking house
The companies to be consolidated Will, II
liz understood, include the American and
led Star Lines, White Star Line, Do
the Leyland Line.
The two last named lines have been un-
der Morgan control for some time. Prob
able additions to this list are the Cunard.
Wilson and Holland-American Compa-
mics. and 1t is understood that a work
!n: sgretInent" will be reached with the
ether leading transatlantic companies.
including the North German-Lloyd. Ham
lurg- american, General Transatlantic
,Fl,cn1m, and Allan and Anchor Lines.
MFR 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 Glenn
ent A. Griscom, of the American Line,
while Charles Steele. Mr. Morgans part
ner in this city, has charge of the legal
preliminaries.
BIG CAPITAL
1t is get too early to give the exact
scope of the scheme. but as now outlined,
there will be an American holding COM
panE, into which all the steamship COM
ponies which propose to enter the com-.
bine viii put their stock ho1dings-"pool
their issues's-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 capitalization of the COM
pany. win be is not yet known, but the
amount is likely to be we'll in excess of
s150, 900 COO This phase of the project will
depend entirely upon the number of
steamship companies taken into the COM
bine.
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 Govern
ment. These subsidies would be with
held or abrogated if the ships of these
lines changed their flags from British to
American. Because of this, the ships of
the White Star. Cunard and the English
subsidized will doubtless continue npmi-
nally under their control.
RULE MERCHANT MARINE.
Mr. Perkins, of j. P. Morgan and Com
pany, is authority for the statement that
American interests will dominate the pro-
posed amalgamation, and declares that
the result will prove not cnly. 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 benefit to importers
as we'll as to the greater interests Of
this country. It's influence will be felt
b. shippers from Manila. to California,
said Mr.. Perkins, and will also result in
a better understanding between the COM
mercial interests of this country and Ger
many.
ut is true he added, that Mr.. Nor
gan will act as syndicate manager in
this combination. just as he brought to-
rethcr and welded the various interests
In the United States Steel Corporation.
The financial details haze been completed
10 the extent that all the cash neces-
sary for the deal has been subscribed 1t
is too soon to speak about the directorate,