Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-09-11
SHIP LINE
To ORIENT
FORMED
INCREASED TRADE WITH CHINA
AND JAPAN MAKES COMPETE
TON FOR SHIP LINE OWNERS
TO FAR EAST.

NEW YORK, Sept. 9.--Increased interest
in trade with China and elsewhere in the
orient is indicated, says today's issue OF
the Journal of Commerce. by the an
nouncement that another steamship
company has been formed by strong 1nan-
cial and shipping interests OF this city
and will soon enter into active competition
for commerce between this port and the
far east.
The new line from New York is to be
operated by the American-Asiatic Steam
ship company, an organization formed un-
der the laws Of Maine, with an author
lied capital OF 100000. The sailings viii
be monthly and the first vessel is expec-
ted to be dispatched from this port about
the middle or latter part of October.
The officers of the new company are
William Barclay Parsons, president; d.
Leroy Dresser, vice president; t. Ash
ley Sparks, secretary and treasurer. The
directors, besides the officers named, are
August Belmont, c. A. Tones, Cornelius
Vanderbilt and John d. Gluck. Luther
Kounteze, of Kountze Bros, Vernilye &
Co., and ]. Crosby Brown, of Brown
Brothers are also shareholders,
Vessels of the new line will call at Sing
apore Manila, Hong Kong, Shanghai,
Nagasalxi. Kobe, Moji and Yokohama.
The service will be inaugurated by the
steamship Gibraltar, which has been
chartered by the company. 1t is the in
tention of the company, however, to build
its own vessels. Shewan, Tones & COM
pany, who have their own offices 4 in
leading ports in the far east and have
operated a steamship service from ports
in China and Japan such as Yokohama,
Kobe, Shanghai, Foo Chow, Annoy, Hong
Kong and me straits settlements, to New
York will become general agents in the
orient for the new company. Formerly
they have been sending out nine or ten
boats a year. All of these vessels have
been chartered and have not taken return
cargoes from this port-that is, to China
and Japan. The new enterprise will,
therefore. complete the line of affording
an outward service. In fact, the Amer
ican-Asiatic Steamship company will not
only establish a new line from this port.
but will also take charge of the business
already estab lished in the orient. =
The steamship Gibraltar is a new ves-'
sci, 344 feet in length, 40 feet beam and
179 inches depth.
In this connection the news may be of
interest that the Union Pacific Railroad
company through the Oregon Short Line
company, which 1T controls, has conclu-
ded to try for the carrying trade between
Pacific coast and Japan, China and the
east At asspecial meeting Of the stock
holders of the Oregon Short Line to be
held at Salt Lake City on october 8, an
amendment of the articles Of association
will be submitted to empower the compa-
nv to construct or acquire by purchase,
lease or otherwise, and to maintain and
operate ferries, ferry boats, steamboats,,
steamships, warehouses and other prop
erty appurtenant to the trade of ferries
or navigation. Also to engage generally
in the transportation upon the navigable
waters of the United States or. Of other
countries and upon the high seas, and
to purchase or otherwise acquire and
guarantee the capital stock and other OBJ
legations of any company having power
to engage in such business or engaged
therein"