The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1902-07-03

History-ContrOl1ed by Seven Men
and Practically Operated by One,
j. Pierpont Morgan.
A worldwide transportation trust!
Such was the dream Of ]. Pierpont
Morgan, the Father of Trusts" says
the New York World. Both land and
sea are to be brought under the CON
troll Of this eRar OF the industrial world.
Railroads and steamship lines are to
be federated into one gigantic system
of transportation that will girdle the
globe. Six steamship lines, with 105
sarge ships, are at the present time or
gained into the Atlantic steamship
trust Ten other lines will make
harmonious working agreement with
Mr.. Morgan's steamship trust, so that
more than 500 vessels will be consoli-.
dated
This is almost the entire number OF
large passenger steamships plying reg
ularly between America and Europe.
Add to this steamship trust the Amer
lean railroad trust, practically com
pleted by Mr. Morgan, and arrange a
harmonious working agreement with
the steamship lines that connect San
Francisco with Asia, Australia and
the Philippines, and the international
transportation trust becomes a fact
These various railroad and steamship
companies may not be actually fused
into one corporation. Mr.. Morgan has
a better plan than that The latest
thing in trusts is the community of
interests" idea which he has originat-
ed.
The aim Of the new transportation
trust is to capture the carrying trade
OF the globe. By means of the new
Nicaragua canal and the Philippines
the transportation trust will be able to
send it's ships to every port in Asia. 1t
is also planning to build railroad
system in China. A recent dispatch
from Hongkong announces that syn
dictate headed by J. P. Morgan has APP
piled to the Chinese government for
permission to build a railway from
Picking to Chingkiakan.
If the new Transsiberian railroad,
now being built by American engineers
with American material, can be in
duced by Mr.. Morgan to make thar
monious working agreement" with his
international transportation trust, then
Mr.. Morgan will absolutely belt the
world with his railroads and steam
ships His railway trains will cross
two continents and his steamships will
cross two oceans. He will become the
grand stage driver and ferrynan Of the
world.
The stea mship lines recently brought
together by Mr.. Morgan are the Amer
lean line with ships, the Red Star
with 13 ships, the White Star with %
ships, the Dominion with ships, the
Leyland with "a ships and the Atlantic
Transport with 81 ships. These six
lines will form what will be known as
the international Navigation company,
with its headquarters in New York
city.
The stock issued will represent
value of S170,0OOOOO. For his work IN
organizing the new trust Mr.. Morgan
has received the royal fee Of So, 800.
600, payable in the stock of the Inter
national Navigation company.
But these six companies will only be
the hub of the great wheel that is to
roll around the globe. An agreement is
to be arranged, and may be already
concluded, with the Cunard line, the
Wilson and Furness-Leyland line, the
Holland-America, Hamburg American,
North German Lloyd, Allan, South
American, Anchor and the Pacific and
French lines. Consequently the total
value of the steamship combination
will be over S45O, 100000
The originator of the steamship trust
idea was Clement A. Griscom, presi-
dent of the American and Red Star
lines. He was obliged to ask the as
sistance of Mr.. Morgan, the veteran
consolidator of the world. At once
Mr. Morgan saw the immense possibil-
tiles in the scheme. sailed for London
and recently completed all arrange
ments which now give to America the
practical control Of the merchant ma
rine of the seas.
American interests will dominate
the proposed amalgamation." said
George w Perkins of j. P. Morgan &
Co.
THE plan will be of benefit not only
TO exporters and importers. but also to
the great railroad interests of the coun-
try Mr. Morgan will act as syndicate
manager in the combination, just as he
brought together the conflicting inter
ests in the United States Steel corpora
ton All tie cash necessary for the
deal has been subscribed.
Each line will be conducted under
separate management and will have
separate offices. as heretofore, but all
will be united under one control.
as some Of the foreign ships are
subsidized by their governments they
will sail under their own flags. If the