New-York tribune., 1906-10-27
MALLORY LINE SOLD.
T. ". MORSE THE BUYER
Banker NoSr Has Nearly Monop-
ola of CoaStscise Shipping.

Charles ". Morse. the steamship owner ana
banker. who. Il was reported recently planned
10 control the entire Atlantic coastwise steam
ship business. announced yesterday that he had
purchased the stock of the Mallory Line. Ns
would not give out any figures but II was
learned good authority that the amount IN
volved IN the purchase was SSOO0Oo0 Tho deal
he'd been under way for several rnonths. II wns
,uraored that & holding company would be
formed 10 control the Mallory Line. with the
n,he- Morse interests but this was denied yes
,erday. The line will he operated Independently
His latest acquisition gives Mr.. Morse practi-
cauy monopoly Of the coastwise service from
Maine 20 Texas His only competitors are the
Old Dominion Line. running from New York to
Norfolk; the Savannah Line, from New York
TO Savannah, and the Southern Pacific Line,
formerly the Morgan Line between New York
Galveston and New Orleans
In addition TO the Mallory Line the Morse in
terests now control the Eastern Steamship Com
pany, the Metropolitan Line, the Clyde Line the
Peoples Line and the Citizens Line.
A reorganization OF the Mallory Line is ex-
pected within two weeks and Robert and Henry
mallory directors in the old company will bs
retained directors in the new board. Mr.
Morses holdings in the line are 95 per cent
Great improvements promised. and it is
thought that when the proposed new steamers
ere put into service there will be rate sla.hing
end close competition with the service of the
southern Pacific Line between New York and
Galveston.
Mr Morse plans TO add several new freight
and passenger ships 10 the Mallory Line service
One is already under construction at Newport
News. Il is believed in shipping circles that Mr..
Morse has his eye on the Old Dominion and Sa-
vannah lines and that merger with the Morse
lines may be brought about, II was said yester-
day az the Offices of both these lines that
gouations had been made by Mr. Morse's repre-
sentatives, and that TO such move was conten-
plated. II was even limited that the Morse in
terests have their feelers out in the direction OF
prominent line plying between New York,
Cuba and Mexican ports. The West Indian
branch Of the Clyde Line recently taken over by
Mr Morse. gives him partial control of the
Dominican and Central American trade.
In his ambition TO enlarge his steamship hold
ings Mr. Morse was credited over a year ago
with having sought TO purchase the French Line.
running between New York and Havre. but this
report he denied. The heavy government subsi-
dies Of the French Line precluded all possibility
Of its purchase by him.
The Mallory Line was organized over thirty
seven years ago, and established the only direct
communication between New York and Gal
weston, the railroads having not yet reached into
Texas The first steamers were built of wood.
The company established the Georgia-Florida
service, with Key West as & port, in 1884. and in
1862 began the service 70 Brunswick and No
bile Before the stock transferred 10 Mr.
Morse the line controlled by the Mallory
family, the operating company consisting Of
Charles Mallory. Henry r Mallory, Robert NAL
iory and william Mason. The Mallory Line
feet consists Of the steamers Colorado, Concho,
Comal. Lampasas, Nueces, Alamo, Sabine, San
Marcos, Rio Grande, Denver and San Jacinto
They are all between . 600 md $500 tons.
M Morse IS not alone conspicuous in the
steamship business, but controls a chain Of
banks in this city, consisting Of the National
Bank Of North America. New Amsterdam Ma
tional Bank, Fourteenth Street Bank and the
Mercantile National Bank