Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-08-07
That Of International Mercantile
Co. Made Public,
THE TERMS AXE STRINGENT
English Vessels Not 20 Change Hegis'
Try without Consent Continues
For Twenty Years.

London, Aug. 6.--The agreement OF
the international Mercantile company
with the British admiralty and the
board of trade is published in a parlia-
mentary paper tonight. II provides
that the British companies included in
the combine shall remain on footing
Of equality with other British COM
panies in respect to any military nav
al or postal services that the British
government may require from the Brit
ish mercantile marine.
No British ship IN the combine shall
be transferred to a foreign registry
without the consent of the president
Of the board Of trade, The vessels shall
continue to be differed by British sub
jects and carry the same proportion or
British sailors as is prescribed In the
case Of any other British ships engaged
In the same line Of trade. The vessels
shan still be subject tn hire or purchase
by the admiralty on the same terms
as existed prior to the combination. AT
least One-half Of the tonnage built or
agreement shall be registered as Brit
ish. Any company hereafter taken into
the combination shall be subject to the
same terms The British companies
included I'm the combine shall continue
to be British companies qualified TO own
British ships and OF least a majority or
their directors shall be British subjects.
Nothing shall be done to jeopardize the
existing British register on the right
OF a vessel to fly the British flag Any
Blitlsh company hereafter absorbed by
the combine shan be subject to the
conditions OF the agreement, and the
combine shall advise the British gov
eminent OF any other- Ines Of whatever
nationality they may De that may here
after be absorbed
The agreement shall continue for
% years, dating from Sept. %,
1902. ana shall be terminable there
after at hyc years notice on either side,
1t Is provided that the British govern
mCnt las the right to terminate the
& gr1ement ut any time should the COM
bine pursue a policy injurious to the
interests Of the British mercantile mar
Ire or British trade,
The international Mercantile Marine
conn any agrees that the chairman OF
its British committee shall accept SER
vice on behalf Of the American COM
pany Ct any process or other document
arising in connection with the agree
ment The lord high chancellor is APP
pointed referee in any dispute arising
out OF the agreement. His decision in
law ana fact shall be final
The agreement Is signed by Gerald
BalfCur, for the board Of trade, Ad-
niia Lord Kerr, senior naval lord and
i|ear-Admiral May. third naval lord for
the admiralty Sir Clinton Dawkins on
behalf OF the International Mercantile
Marine company and by the directors
OF Tic constituent companies,
The papers express satisfaction with
the agreement between the Internation-
al Mercantile Marine company and the
irtish admiralty saying that II fully
protects British interests.
The Standard points out that the
Morgan combination has been Indirect.
~ The means of strengthening Great
Erilain's laval and commercial marine
by preCpltating the Cunard agreement,
and thinks that the audacious enter
prise of buying up British lines Is not
likely to be repeated for some time.