The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-25
Subsidy Agreements May BE Changed
i'm Such n Way rs to Prevent
Further Combinations.
AN INCREASE OF s15,ooO,ooo
CAPITAL STOCK OF THE CITY Ma
TIONAL BANK TO BE swELLED.
1t Is Now Ten Millions and 100000
Additional shares at $50 Will he
Issued-New Companies.

LONDON, April 24-In the House of
Commons to-day the secretary of the Ad-
miralty, Hugh A. Arnold-Forster, replying
to question, said the Admiralty was con-
sidering the whole matter of ship subsidies
with view of defining the rights of the
Admiralty in the event of contingencies
arising. such as the suggested shipping
combine. When the present form of agree
ment was settled on, no trade combina-
tions under foreign control were contem-
plated, but the Admiralty had appointed
a committee TO consider and report on the
form of future subsidy agreements The
Admiralty. in the meanwhile, had made
arrangements with the White Star line
which preclude the possibility of any of
their armed cruisers or merchant steam
ers being transferred to a foreign flag
without the consent of the Admiralty dur
ing the unexpired portion of the Admiralty
agreements Important legal points were
involved, including the questions whether
in the event of war there was anything
to prevent these companies from substitute
ing foreign for the British flag at short
notice, and whether the Admiralty has
the means of enforcing it's right of pre-
emption or hire in such cases; or, il by
abandoning the subventions, the companies
could claim that the right of presumption
ceased. All such points would be care
fully considered and the Admiraltys rights
would be ascertained.
Replying to a question as to whether the
Board of Trade had received information
that steamship lines had been sold to an
American company, with its principal place
of business in the United States, and
whether the vessels so sold would retain
the British flag, the president of the Board
Of Trade. Gerald Balfour, said he had no
information showing that the sale had
been accomplished. If the vessels had been
sold they would pass to another flag.
1t was said this afternoon that the pres
ent uncertain position of the Cunard and
other steamship companies in standing out
from the Atlantic combine was to some
extent due to the action of the Admiralty
outlined by Mr.. Arnold-Forster in the
House of Commons to-day.
A. j. BalfOur, the government leader. an
swering a question in the House of Com
mons to-day regarding the growth of
trusts in England. and whether the gov
eminent would appoint a committee to in
quire into the subject. said the govern
ment did not think that the subject at
present was ripe for the kind of inquiry
suggested.
Some forty members OF the House of
Commons, representing both political par
ties. held a meeting tonight to consider the
ACCESSIBILITY of establishing a ministry of
commerce. The meeting resolved to form
committee to promote this object. II is
present announced themselves as actuated
by the feeling that the development of
American enterprise. particularly as illus
trated by the shipping combine needs
greater attention at the hands of the gov
eminent than IL now receives.
The Daily Mail this afternoon afflrms the
agreement of the Atlantic shipping combine
contains secret clauses to the effect that
the American promoters of the concern in
tend to ask Congress to pass a new ship
ping bill permitting foreign-built vessels to
hn hrn1 tcrhf trrHa h0 40 he
adhesion of the Cunard line is practically
certain. continues the Daily Mail, and the
corporation will be formed mainly with
American capital. 1t will take over entire
the British shipping companies. Those
companies refusing 10 join the combine
will be compelled to fight for their exist
present Admiralty contracts still have to
run, the paper adds, the vessels will re-
main under the British flag. At the eXpira-
tion of this time all will pass under the
American flag and be owned and run by
the aforementioned corporation, which
will eventually endeavor to carry it's COM
petition TO every portion of the globe.
The Daily Express declares the shipping
combination is trying to coerce Canada
into accepting the terms and conditions as
to emigration rates and traffic. and that if
resistance is made the combination will
buy up the Canadian Pacific Railway and
declare a commercial war II is the inten-
ton of the combination. says the Daily
Express. to demand that the Canadian
emigration department in London should
cease 10 give facilities to Elder, Dempster
* Co.
The Friday papers again all publish edi-
torial articles on the threatening aspect of
the shipping combination and express keen
satisfaction that the government is alive
to the menace.
The usual monthly meeting of the di-
rectors of the Cunard line was held yester-
day at Liverpool, but the greatest secrecy
is maintained as to what TRANSFERRED The
officers of the company have declined to say
whether the control of the line by the Nor
gan interests was discussed or not. 1t is
believed. however. that this matter was
fully gone into and the idea prevails that
the Cunard line will eventually be alb
sorbed. The shares of the Cunard line
again showed a marked increase in price
yesterday.