Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1902-04-30
IS WORRIED
London Opinion-Molder Contin-
ues To Be Melancholy Over
That Reorganization.
LIVERPOOL MAN VERY OPTIMISTIC
Declares the Deal Is Only the Forma-
ton Of Il Pool-French Not
in the Game.

London, April 3O.-"Soft Soap and
Barney" and The Shipowners and
the Absent Minded Government" are
two heads i'll the afternoons papers
here. They are fairly representative
of the general impression created by
the ministerial replies TO the questions
in the house of commons regarding the
characterization of the Atlantic"
but what is Gerald BalfOur president
of the board of trade, against J. Pier
pont MOrganI" asks the Westminster
Gazette in urging the government not
to accept Mr. Balfour'S reaSSUring
statement and not 10 rely on the pas
SiOnate assertions of the sentimental
attachment of the shipOwnerS to the
British flag.
Another Authoritative Statement
Referring to Il statement of The
Shipping Gazette. the Westminster Ga
zctte voices the public inquiry as TO
the differences between the sale and
transfer of the White Star line shares
TO the shipping combine. Meanwhile
another authoritative statement in
the Liverpool Express will cause fur
ther guessing on the part of both the
public and the ministers. The COM
bine." says The Express, will prove
much more fuvorab BILE to the British in
suspected. There will be no sale of Brit
ish ships to j. Piermont Morgan.
Liverpool Gazette EN plains.
There VIII be Il combination of COM
panieS registered in America on the
basis of Il nominal capital. which will
be the individual value of each boat in
the various fleets entering the COM
binatiOu. Each cargo and passenger
Eoat will be valued separately. There
Will 1,t, f4t .lS
rates are concerned. and the companies
pooled VIII declare the gross freights
carried by each boat. These will be
pooled and will be divided pro rata
with the capital. 1t Will thus he seen
that the separate management of each
concern Will be continued and that the
company which can manage its fleet
most economically will receive the
larger proportion of net profits.
Others Can Come in Later.
provision viii he made whereby
other companies can join the cOmbina-
tiOn at any time on similar terms. As
the majority Of the ships viii be Brit
iSh the combination cannot be man.
aged adversely To British interests"
y shareholders meeting of the Ley
land line in London brought tOgetheS
Il number of shipOwncrS, prominent in
the combine. such as MeSSrS. Wilding,
i
of the Associated Press was assured
that there was no change in the situa-
tiOn. which was exactly rs outlined in
these dispatches April 10.
Frenchmen Not in the scheme.
Special dispatches from Paris quote
the secretary of the French steamship
line as saying: We have never ell
tered into direct or indirect negOtia
tons with the Atlantic combine. For
the third time we positively deny the
rumorS of an agreement and we hope
this will be accepted as final"
What the Syndicate VIII Get.
New York. April 3O.-There is the !
very best authority for the statement
that the $JO,O0O.OOO syndicate which is
to underwTite the International Steam |
ship company Will receive in return Sc
curitieS of the company as follows: |
S50.00O.OOO in new per cent. bonds; |
S2.5OO.000 in new preferred stock; S25,- |
000.00O new common stock. The Syndi- !
cate viii continue operative until |
January 1904. unless previously dis |
solved by the managers.