The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-30
BRITISH IN A PANIC
DON'T LIKE GOVERNMENTS ATTI.
tube TO COMBINE.
THE PAPERS STILL RAGE.
MAY BE NO CAUSE FOR THEIR ANx-
IETY, HOWEVER.

Apparently Authorized Statement in
Liverpool Express Gives Terms OF
COmbinatiOn-TO he No Sale of
British Ships, but Combination OF
Companies Registered in America
Will COntrOI-Each Vessel to BE
Valued Separately and Net Profits
Divided According to Earning Ca
pacity of the Various Vessels.
London. April 29.-"Soft soap and
barney 1.-The ship owners and the
absent-minded government" are two
scare heads in this 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 "Americanization of the Atlantic"
But what is Gerald Balfour rresi-
| dent of the board of trade) against J.
Pierpont Morgan?" asks the Westmin-
ster Gazette in urging the government
not to accept Mr.. Balfour's reassuring
| statement and not to rely on the pas
| sionate assertions of the sentimental
attachment of the ship owners to the
British flag
referring to yesterdays statement of
the Shipping Gazette the Westminster
Gazette voices the public inquiry as to
the difference between the sale and the
transfer of White Star Line shares to
the shipping combine.
Meanwhile, another authoritative
statement in to-day's Liverpool EX-
press will serve for the subject of fur
ther guessing on the part of both the
public and the ministers.
The combine" says the Express.
Will prove much more favorable to
British interests than has up to the
present been suspected. There will be
no sale of British ships to j. Pierpont
Morgan. There will be a combination
of companies registered in America on
the basis of nominal capital, which
will be the individual value of each
boat in the various fleets entering the
combination. Each cargo and passen-
ger boat will be valued separately
There will be an agreement so far as
freight rates are concerned and
the companies pooled will de-
clare the gross freights carried by
each boat. These will be pooled and
will be divided pro rata with the capt.
tai. 1t will thus be seen that the sep
arate management of each concern will
be continued and that the company
| which can manage it's fleet most eco
nomically will receive the larger pro-
| portion of the net profits. Provision
Will be made whereby other companies
can join the combination at any time
on similar terms. AS the majority of
the ships will be British the combina-.
tion cannot be managed adversely to
British interests" p
A shareholders meeting of the Ley
land Line in London to-day brought
together a number of ship owners
prominent in the combine, such as
Messrs. Wildng, Pirrie and Torrey,
and a representative of the Associated
Press was assured that there was abb
solutely no change in the situation.
which was exactly as outlined in these
dispatches April 10.
Dutch Line Wants to Come in.
Amsterdam, April 29.-At meeting
of the shareholders of the Holland
America Line held here to-day, a cir
cular declaring the advantage of join
ing the shipping combination, was sub
mitted. The circular asked also for
approval of an increase in the COM
pany's capital for that purpose.
French Line Is Not in 1t.
London, April 29.-Special dispatches
from Paris to-day quote the secretary
of the French steamship line as say
ing:
I'VE have never entered into direct
or indirect negotiations with the At
lantic combine. For the third time we
positively deny the rumors of an
agreement, and we hope this will be
accepted as final"