The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1902-04-19
LONDON NEWS IS CONFIRMED AT
THE NEW YORK BANKING
HOUSE OF MORGAN.
LIST OF COMPANIES IN DEAL
More Important and Interesting De-
tails Are Yet Lacking, But 1t Ia
Announced as Certain That Ameri-
can Interests VIII Dominate the
Proposed New Concern.
(Ry Assoclated preasl

New York, April l9.-J. l.. Morgan.
VINO is now abroad, has practically con-
suhmated plan to combine all the lead
ing transatlantic steamship lines. Lon
don dispatches to the Associated Press
announcing the combination were today
confirmed at the Morgan banking house.
The companies to be consolidated will
II Is understood, include the American
and Red Star lines, White Star line,
Dominion line, Atlantic transport line
and the Leyland line. The two Last
named lines have been under Morgan
| control for some time. Probable addl-
| tions to this list are the Cunard Wilson
ana Holland d-AmerIcan companies and, IL
is understood, working" agreement
VIII be reached with the other leading
trans Atlantic companies, including the
North German-Lloyd, Hamburg Ameri-
can, General Transatlantic C'rench),
Allen and Anchor lines.
Mr. Morgan has given the matter much
OF his time since his arrival on the other
side.
In this country the more important de-
iails have been In the hands of Clement
A. Grlscom of the American line. while
Charles Steele Mr.. Morgan's partner in
This city, has had charge of the legal pre-.
llminaries.
1t Is yet too early to give the exact
scope Of the scheme, but as now outlined
there VIII be an American holding COM
pany, Into which all the steamship COM
panies which propose to enter the COM
bine VIII put their stock holdlngs-pool
their Issues In exactly the same way that
the various concerns embraced I'm 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
company now Is, Is not yet known, but
the amount IL likely to be well in excess
Of $l5000O,0 900 This phase of the pro-
ject will depend entirely upon the num-
Der of steamship companies taken into
the combine One OF the most interest,"
ing features Of the plan deals with the
subsidy question.
The White Star and Cunard lines re-
ceve liberal subsidies from the British
government. These subsidies would be
withheld or abrogated II the ships Of
these lines changed their flag from
British to American.
American Interests Dominate.
Because of this the ships of the White
Star, Cunard and the English subsidized
companies Will doubtless continue nom
nally under British control.
George w. Perkins OF J. +. Morgan &
Co.. is authority for the statement that
American interests will dominate the
proposed amalgamation and declares
that the result viii prove not only
great triumph for Mr.. Morgan, but will
make the United States the real rulers
of the merchant marine Of the world.
Mr.. Perkins also says that the plan
will be Of the greatest benefit to im-
porters and exporters as well as to the
great railroad interests OF this country.
Its effect will be felt by shippers
from Maine to California;" Mr.. Perkins
said, and also will result in a better
understanding between the commercial
interests of this country and Germany"