Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1902-04-26
A GREAT BIG FUSS
Without Any Cause Says Mr..
J. P. Morgan, Jr,
In Speaking of British Agitation Over
the Shipping Combine.
MORGAN Now Said to Be After Scottish
Coal Companies.

Press, this afternoon: 1nere mas HOT
been Il single development in the ship
ping trust since the announcement of
The Associated Press Of April 10. All
this agitation in England is quite UNI
based. We cannot transfer ships from
the British to the American flag, and,
what is more, we have not contem-
plated it. Some Of the serious papers
hero certainly are making a great fuss;
but it all appears to us to be very sem
sational journalism. We know of no
opposition to the combine and neither
know nor particularly care at the pres
ent moment what the Cunard and other
outsiders plans may be. In course Of
time the agreement on which the trust
is based will be submitted to the share
holders of the Individual companies
concerned. But a good deal has got to
be done before that happens"
When Mr.. Morgan, Jr.. was asked
question as to a recurrence of the sub
sidy cases Of the former City of Paris
and former City of New York, he said:
THAT is much too far fetched for US.
The idea has not occurred to US. 1t is
easy enough for people who have moth
ing better to do to sit down ana invent
all kinds Of ingenious objections. which
are only remotely possible to occur.
We have tried to explain to the people
here the mutual benefit which may BE-
derived from the new organization. ana
if they cannot understand it, why. We
cannot help it, that's ALL"
The statements regarding the intcn-
tons Of the managers of the Atlantic
shipping combine vary with each cdi
ton of almost every newspaper here
and most of them entirely lack even
the semblance of authenticity. Bat
they serve to enhance the general scare
which is fully voiced by the startling
newspaper posters and headlines.
Shipping circles express satisfaction
with the announcement of Mr.. Arnold
Forster. the secretary Of the admiralty,
in the House of Commons, yesterday,
of the appointment of n committee to
inquire into the whole subject as af-
fecting the admiralty. Much is made
of the fact that the Inman Line steam
ers City Of Paris mow the American
Line steamer Philadelphia) and The
city Of New York now the American
Line steamer New York; after receive
ing G26, $50 ($134 $500 in subsidies were
transferred to the American flag, and
it is contended that there is nothing to
prevent a repetition of such action.
The Westminster Gazette however,
soaces itself with the thought that if
the law by which only American built
ships are entitled to fly the American
flag is repealed the British as ship
builders, stand to gain what they win
lose as ship owners.
Further questions in the House of
Commons, today on the subject of the
shipping combine, ELECTED information
showing that the government was TAX
ing steps to cope with the situation
which evidently was officially consid-
cred as detrimental to Great Britain.
The president of the Board Of Trade,
Gerald Balfour, said the Board of Trade
had no official Information about the
combine. but plenty of unofficial intel
ligence had eached the board. The
effect Of such a combination in British
shipping generally would receive the
careful attention of the board, but any
formal inquiry would be premature.
No information regarding the ar
arrangements made by the American
syndicate to control the Atlantic trait
fc, including passenger freight and
other charges and the movements of
the vessels. largely belonging to British
companies. had been submitted to the
board before the arrangements were
made. AS a step to secure the COM
mrcial and political interests of the
United Kingdom and to prevent for
cign interference with British shipping,
conflicting with arrangements made
with the admiralty. the matter had oc-
cupied and is occupying the govern
ment's attention.
The secretary of the admiralty, Mr.
Arnold Forster, replying to Henry
Normal, Liberal. Gin the House of Com
mons), said the attention of the admir-
atty had been called to the formation
of the Atlantic shipping combination
or trust with a capital of $4,000. 00t
($170.000,000). mostly held in tn,
United States with registered officers
In America. The secretary was in.
formed that % British transatlantic
steamships were controlled by thi:
combination. among them being tire,
subsidized steamers and five otheit
which were held at the admiralty's dis
rosal without subsidy. The White
Star Line gave the admiralty no notice
of its intention to enter the combina-
ton.
Sir Fortesque Flannery associate of
l-ioyds) takes serious view of the situa-
uon. In the course of an interview he
says the present movement is part of a
well-defined scheme in American mercan-
tile and naval circles. the ultimate object
of which is to foster American shipbiiiid-
frg. He sees in the new shinbuilding
yards important factors in the fast ma
turing project for charging the Ameri-
can navy which he considers must in
evitabiy be extended in proportion to the
present enormous enlargement of the
American mercantile marine
According to the Daily Express. the
London & Southwestern Railway has re-
fused an offer made by j. Pierpont Nor
kan to buy up the stock of that com
pany.
Lord Strathcona and Mount Royal. the
Canadian high commissioner in London
has said in an interview that he was dis
inclined to credit the reports that the
shipping combine was attempting to Sc
cure control of the Canadian Pacific
Railroad. Even if the combine secured
majority of the Canadian Pacific Railroad
stock said ord Stro thnopo +bara IL a,j-