The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-11-15
THE TRANSATLANTIC MERGER.
Details Of Largest Steamship Company
In the World.


in the World.
Washington Correspondence Of the Boston
Transcript.
This new American corporation Is the
largest and most completely equipped
steamship company In the world. Its heet
numbers at least 1876 ocean steamers OF
more than 100000 gross tons. The next
largest corporaton-the Hamburg Ameri-
can of Gcrmany-owns 127 ocean steamers,
Of 8O,Og1 gross tons The BRITISH lnnah
steam Navigation company OF England
owns III steamers, of 36l $50 gross tons.
The neet Of the American corporation Is
greater than the ocean steam merehaut Meet
uf any nation except Great Britain, Ger
many or France.
international Mercantile Marine company,
has been formed by the purchase OF the
Leyland line, the White star line, the III
tcrnational Navigation company, the At
lautic Transport line and the Dominion
lines. National prestige at sea loses from
the presence Of an alien instead or the
National nag; Under the laws ana
this grcnt feet could not at once he trans
ferred to the National dag About four,
hfths of II Is part OF the British naval
power aud under British protection Never
thelcss, the ORGANIZATION Of so great n
company under American auspices Is an
| important step toward the establishment OF
the influences Of America on the ocean.
I
been the rebuilding Of the navy and the
establishment Of modern ship building
plants In the United States.
The steam tonnage required last year to
carry on the general export, import and
passenger trade between the United States
and Europe excluding the oil trade In
tank steamers was about 100000 tons, All
aggregate Of less than three times the ton.
mage of this company. There is, however,
an agreement between this corporation and
the two great German lines by which those
| lines pay annually to 1t dividends on one.
! fourth OF their combined capital That
| fourth amounts to Sll.9o0OOO. The Ameri-
| can corporation, In return, agrees to pay
| out Of It's earnings g per cent on an equal
amount Of It's capital to the two German
| lines This pecuniary interest In one an
| others success brings the American com
| pany and the two German companies Into
| a plain alliance. Some Of the German
! steamers employed in trade With the United
! States were not so regularly In this service
! as most Of the steamers OF the merger
| fleet. but this German tonnage has been
! lately estimated as equivalent to 100000
| tons In steady employment In the North
| American trade. This gives to the allied
interest, when new ships are finished, com.
| mand over fully 1,S00,o0 tons, over hA!
| of that required for our European trade.
! Through the high efficiency Of the Sldi-
! vldual steamers of these fleets and the
I
| vcloped organization. these allied interests
| viii be able to conduct at least 90 per cent
| Of the TRANSPORTATION Of all descriptions he
| tween the United States and Europe (bulB
| petroleum excepted.
| The vessels OF this new alliance viii Hy
the flags Of Great Britain, Germany. the
! United States Belgium and perhaps OF
other countries. For manifest reasons, Mr.
! Chamberlain notes. this alliance Will be
come an agency for the preservation OF the
! peace OF nations In the event Of war e
| which the United states was not party
| It's existence suggests unusual possibility
! A war involving Great Britain with con
! tnental power might imperll much AmeTi
| can property at sea under the British nag
| war between the United States anC
Great Britain might place our warships ii
! the peculiar position Of capturing as price
Of war British steamers In which our owi
| capital was heavily Invested. In the even
| Of a war TO which two OF the three nation
are party, the German agreement pro
vides for a suspension during hostlltles
| While contingencies OF war are remote, 10
conditions raised by this merger lent
| weight IN the argument for the exemption
| OF merchant ships from capture In time o
war. President Mckinley, In his messag
four years ago, recommended an intefua
tional agreement making oil private prop
structlou by the force OF beligerents jus
as private property on land Is geDRrall
cxempt. Contraband Of war would az cours
be excepted as well as blockade runners
The average amount OF neu tonnage bull
annually for the combined steamship CON
panles has been $4,000 gross tons sine
1898, This amount is not beyond the al
nual capacity Of the one concern which ha
the exclusive privilege abroad FOR buildln
steamers for the organization The ne'
corporation viii become the largest singl
purchaser Of new steamers for the tram
atlantic trade. II any part OF its futur
orders Is ia be placed I'm this country, III
American cost must no more nearly al
preach the British than In the prices n
Gently quoted, or, Mr.. Chamberlain add
the difference must be made good IN som
manner. The cost OF operating steamer
does not enter into the shin building que
tlon, because II would he perfectly feasib
TO huild steamers IN the United States AZ
transfer them 20 foreign registers Of built
ing conditions were equal The material
for building ships for foreign trade al
free OF duty, so that the tarin does NJ
! enter into the ship-hullding question"
I The new corporation viii begin operation
during the current hsoal year Monopol
80 ~. "A,