The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-31
Agitation Agafns the Morgan Combi-
nation Likely to Result in Ac-
ton by Parliament
SUBSIDY SCHEME PROBABLE
PREMIER BALFoUR TO MAKE AN An
NOUNCEMENT THIS FALL.
New combines" a POssibi1ity-Sir
Ch~ristopber Furness May Head an
English Syndicate.

LONDON, Aug. 30-The approaching ex-
piration Of the time limit for the compile
ton of the Atlantic shipping combine is
arousing the British press to all sorts of
speculation regarding ]. Pierpont Morgan's
ultimate plans as well as the governments
scheme for dealing with .the combination.
The promised statement of the premier on
the reassembling Of Parliament is awaited
with intense interest. The statement has
already been printed that the government
plans are all ready and that the authorities
will make an effective move against the
American syndicate. Inquiries made in the
best informed quarters indicate hat this
announcement is not true. The government
has had to deal with so many powerful and
conflicting interests that it has not yet
been able TO definitely decide on a plan of
action. In spite of the opposition TO a
general subsidy scheme, well-informed per-
sons consider this to be the most likely
solution, on the lines of a generous distri-
button of government support, not in be-
half of one, but Of several companies. The
form which such assistance will take is still
under discussion. there being considerable
opposition to straight subsidies.
There is no doubt that Mr.. Balfour's an
nouncement will include a scheme for a
direct fast Canadian service in which the
Canadian Pacific Railroad probably will
participate, but not, as originally planned,
as sole proprietor and beneficiary. The in
dications point more and more to the draw
ing together of the Atlantic lines outside of
the Morgan combine. One of the alliances
which may be earliest expected is a COM
b~inatiOn of the Allan line and the Elder,
Dempster & Co. The heads of the English
lines are chary in expressing themselves
on the Atlantic outlook. Interest is rather
intensifying than allaying their jealousy of
the Americans bid for the Atlantic trade,
and the government has been so thor
oughly stirred up that it will not leave a
stone unturned to alIay the existing COM
mercial and colonial discomfort. In this
connection 1T may be mentioned that the
tariff discussions at the recent colonial con-
ferences were very intimately connected
with the shipping situation.
A leading ship owner and a close friend
of the colonial secretary. Joseph Chamber
lain, said: America must not think that
the imperial government is going to leave
the colonies at the mercy of the shipping
or any other trust. The discomfort is acute
enough now in many quarters of the en-
pire. While Great Britain does not want a
commercial war with the United States,
she will not stand indefinitely being shut
out by the American tariff wall while keep
ing open house for American traders in the
United Kingdom. The question Of retalia-
tory duties is not so improbable as many
people imagine. There is no reason why
the British colonial markets should not be
opened to British goods on a preferential
basis. We have been asleep here in Eng
land for a long tine, but when We wake up
America had better look OUT
Sir Christopher Furness, who has been
referred to as the possible head OF the Eng
lish financial syndicate which is likely to
purchase the Cunard fleet as the nucleus
for a British shipping combine, limited at
similar possibilities yesterday in his speech
before the steamship meeting at Manches-
ter, but as he was addressing a public
meeting he was not so outspoken as the
leading ship owner quoted above.