The sun., 1902-02-01
FIRST STEP OF SHIP MERGER.
GREAT ATLANTIC LINES JOIN IN
RAISING FREIGHT RATES.
The New Rates 60 Into Eject To-day
Ultimately. It Is Believed the Lines
win Also Come Together as 10 Pas
senser business Present Design Il to
Drive the Unstable Tramp on the Seas.

senser Business Present Design IL TO
Drive the Unstable Tramp on the Seas.
Bovine Sanderson OF Sanderson 4
Son, general agents here OF the Wilson
lines Of steamships, announced yesterday
with the sanction Of the Morgan steam :
ship interests. that the first steps toward
merging the freight business OF tho Anglo
American lines had been undertaken in
Liverpool day or so ago.
The lines affected, according TO The
Suns informant, are the White Star, the
Cunard. the Atlantic Transport. the Ley
land, the Wilson, the Elder-Dempster
the Chesapeake and Ohio Steamship Com =
pany, whose vessels ply between Newport
News and Liverpool and London; the
American and Red Star, the Lamport and
Holt and lines Of less importance whose
vessels ply between British and American
ports. Papers have been signed on the
other side by representatives Of all the
lines concerned,
II is understood that the scheme OF the
combination is to make profitable the car
rying of freight TO British ports. Because
of the failure of the corn crop which usually
occupies all the lower hold space In freigh-
tiers; the high price OF grain on this side.
and the superabundance OF tonnage,
freight rates have been lower recently
than they have touched in several years
The British and American lines have hardly
covered the expense OF carrying cargo.
That is the reason all hands got together
TO flx rates.
II has been decided that all steamships
affected by the agreement which are not
loaded to-day shall hereafter, that is from
| to-day. accept no grain except at the mini
mum rate OF about three American cents
| a bushel, instead OF three farthings, or n
cent and a half, as heretofore; -four will not
be carried to British ports across seas ex-
cept at the minimum rate OF about 81 81,
instead OF at the present rate OF about
81. SO: provisions will not be taken az a
lower rate than about $3.50. instead Of at
sis7.
One OF the objects OF the big freight
combine is to drive from the seas the i'm
pecunious and unsafe tramps, that. TO a
large extent have determined freight rates.
| They are generally undermanned, under
ballasted and form the larger proportion
| of freighters missing and wrecked.
There Is little doubt that the merging OF
the freight interests will be followed by a
|
at first affect only the lines plying between
| British and American ports. but eventually
may affect the Continental lines.
The tramps doubtless will be forced out
Of business II the agreement is lived up to,
which is reasonably certain,
The German lines have no reason at pres
ert to enter the agreement In regard 70
minimum freight rates. as the lowest freight
charges 20 German ports are about Tho
same a. those adopted by what may be
called tho Anglo-Amerioan conference.
| TsseSC SContspcntn lines practically have a
monopoly OF the freight business between
| Continental ports and America. IL Is not
unlikely, however. that the German lines
will be forced into an agreement on cabin
rates with the Anglo-Anerican combina-
| ton.
II Is said that the freight rates will lie
maintained between American and British
ports partly through the utilization OF
| the chief railroads Of the United States
controlled by the Morgan-Hill and other
interests. 20 carry freight from interior
places 90 the sea and 90 river terminals
! connecting with the sea. Grain. -four and
provisions, the three things concerned,
will be shipped through from the points
where they are grown or manufactured
by the railroads In the oombinAt ion 10 the
steamships.
More than a million tons Of fneighters
including lines that run from every A. .
lantio and Gulf pOr Of the United States,
are affected by the agreement The Anchor
and the Allan-Sta,s lines were not men-
toned by M handerson. bu thefe Ia littls
probability 81 tbair fooking by themselves
Ia suLstAhoe. the combination IL for tho
purpose ~ ks.piRs Atlantic freight rates
AZ a point that viii bs profitable 10 the
oaTners and safe fOr tle thippefs