The daily morning journal and courier., 1903-08-07
BRITAIN LOSES NOTHING.
AGREEMENT WITH rmnasz,L
 MERCANTILE MARINE co.
ship. Remain Subject to Order. or AdmiraIsy-No Bri.i.h ship ss ss Transferred so . Foreign Rss..sry Without Consent of SPr.sldeat of Board of Trade-sIaning of shtu..

Board of fTrade-hIaning of Shfps
 London, Aug. 6.-The agreement. the International Mercantile Marine, com pany with the British admiralty and the Board of Trade is published in 8 parliamentary paper tonight.
 It provides that the British companies included in the combine shall remain on footing of equality with other British companies in respect to any military, naval or postal services that the British goverenment may require from; the British Mercantile marine. No British ship in the combine shall be transferred to a foreign registry without the cor- sent os the president of the Board of Trade. The vessels shall continue to ba of1icered by British subjects and carry the same proportion of British sailors as is prescribed in the case of apysother British ships engaged in the same lins of trade. The vessels shall still be sub ject to hire or. purchase by tine admiral ty or the same terms as existed prior to the combination. At least nesmoiety of the tonnage built or acquired during the continuance of the agreement shall be registered as British. Any company. hereafter. taken into the combination. shall be subject to the same terms The British companies included in the com bine shall continue to be British com panies qualified to own British ships. and at least a. majority of their directors shall be British subjects. Nothing shall be done to jeopardize the existing Brit ish register or the right of a vessel to ay the British flag.
 Any British company hereafter ab- sorbed by the combine shall be subject to the conditions of the agreement and the combine shall be subject to the con- ditions Of the agreement and the com bine shall advise the British goverrl- ment of any other linesrof whatever na- tionality they may be that may here~ after be absorbed.
 The agreement shall continue for twenty years dating from September 22. 1902, and shall be terlninable, thereafter, at five years notice on either side. It is provided that the. British government has the right to terminate the agree ment at any time should the combine pursue a policy injurious to the Inter- ests of the British mercantile marine or British trade. The International
 
 Mercantile Marine company agrees that the chairman os it's British committee shall accent service on behalf of the American company or any process or other document arising in connection with the agreement. The lord higf1 chari- scellor is appointed referee in any dis pute arising out of the agreement. His decision in law and fact shall be final.
 The agreement is signed by Gerald Balfour, for the board of trade; Admiral Lord Kerr, senior naval lord, and Rear Admiral May, third naval lord, for the admiralty; Sir Clinton Dawkins, on be- half of the International Mercantiie Marine Go, and by the directors of the constituent companies.
 London. Aug. '. The papers this morning express contentment with the agreement between the International Mercantile Marine company and the British admiralty, saying that it fully protects British interest. The Stand- ard point out that the Morgan combine has been indirectly the means of strengthening Great Britain's naval and commercial marine by precipitating the .Cunard agreement and thinks that the audacious enterprise of buying up Britt ish lines is not likely to be repeated tor some time.