New-York tribune., 1902-05-10
LONDON'S LATEST NEWS
SLOW RECOVERY FROM THE SHIPPING
COMBINATION SCARE
RUMOR THAT MR.. MORGAN WILL ACQUIRE
ONE OR MORE ENGLISH RAILWAYS
RHODES AND STEAD.
Copyright 1902: BY The Tribune Associntion)
ESPECIAL 20 The Tribune by French Gable.

Copyright; 1902: BY The Tribune Association)
Especial The Tribune by French Cable.l
London May 10 l a. m.-Englsh newspapers
have not yet recovered from the scare caused
by the publication OF the details of the ship
ping trust agreements. Mr.. Pirrie is held up TO
scorn as the man who has converted the North
Atlantic into an American ocean, British
liners into American fleet and Belfast into an
American shipbuilding yard 1t Is recognized by
all the more serious journals that the British
steamship companies have obtained magnificent
terms, but 1t is at the same time regarded as
certain that matters will not remain as they
are left by the agreements The deal is spoken
of In some quarters the greatest blow ever
inflicted on British mercantile supremacy. But
the organ OF the British shipping trade very
phtlosophicany says it was inevitable that the
United States should refuse TO be forever con-
tent with the state of things under which not
less than 80 per cent Of it's export trade
ia conducted in foreign bottoms.
Mr.. Morgan's next step will be carefully
watched II is rumored that he is contemplat-
ing the acquisition of or more English rail-
ways, and the people wondering how such
possibility should be met. Harland & Wolff
referred 10 as the servants of Mr.. Morgan
by paper. while another says the famous
Belfast shipbuilding firm will have alterna-
tive but TO cross the Atlantic and set up an
tablishment there.
It is understood that the agreements under
which the Shipping Trust has been formed and
other documents bearing the subject ase be-
ing considered by the law officers of the British
Government. II is admitted that the character
of the agreements adds to the gravity of the
position. and In the lobby of the House of Com
mons yesterday there was general belief that
the attention of Parliament must be again di-
rected to the matter. II may be impossible TO
move a second time adjournment of the House
for the purpose Of discussing the question, but
the feeling is strong that the government
will probably give a day for deba ting it, While.
however. there IS a general opinion that the
government can no longer ignore the state of
affairs created by the trust. there is consider
able difference of opinion as 10 the measures
that should be adopted for dealing with it.
The destruction of ST. Pierre is regarded as
wellnigh the most appalling volcanic catastro-
phe that the world has since the blottng
out of Herculaneum and Pompei At present
all that is known of the cause OF the annihIla-
ton of the town is contained in a brief official
report made to the French Government. Fur
ther details are eagerly awaited.
Mr.. Stead states that up to the year 1899 he
was the sole executor of the will of Cecil Rhodes
II had been the intention of himself and Mr.
Rhodes to found an international newspaper.
with offices IN London and New-YOrk. which
should be largely conducted on educational lines
Mr.. Rhodes had resolved to devote his fortune to
the scheme as he considered II would be step
toward the realization of his dream OF Anglo
American reunion. Mr.. Stead's name was re-
moved from the list OF executors in consequence
of his opposition to the Boer War, and the
scheme was then bandoned