New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-22
Would Finance $4,000
Venture Connecting American
Coasts Through Canal.
GOVERNMENT MUST ASSENT
B. N. Baker Tells House Com
mittee the Ten Ships Proposed
Would Be a Part Of U. s.
Merchant Marine.
From TIE Tribune Bureau. .

Washington. Feb 2l--Asserting that ne
wanted 10 learn the sentiment Of the
American people regarding such pro-
rosal. Bernard y. Baker. Baltimore
steamship man. told the House shipping
Trust Investigating Committee to-day
that the Hamburg American Line was
ready TO finance. in whole or in part.
$1,000 900 steamship line from baltimore,
Philadelphia New York ana other Allan
tic coast points. through the Panama
canal. to the Pacific Coast and South
American ports.
Mr. Baker said ne had tried several
wears ago 10 Anance such line, bat was
unable 10 secure American capital. The
Hamburg American Line, he added, mad
watched his efforts and recently had III
formed him that the capital wouId De
forthcoming if the plan met with no oD-
lection from the administration m me
United States.
The Hamburg merican Line. Mr..
Baker said. does not desire To MAKE the
venture unless the suggestion is favoraoE
received in this country He testified that
The company realized it is now being
prosecuted under the sherman act, and
Mr.. Baker stressed the point that public
sentiment must be favorable before the
company invested 10 such an extent in An
American steamship line
The witness put in the record the copy
Of letter written 10 him BY Director
General Balm, of the Hamburg Ameil-
can Line. reading in part:
we would only be willing 10 become
interested IN the event ii could lie done
satisfactorily 80 the administration N
WASHINGTON. and that the Investment Of
German capital in an American steamship
inc would be satisfactory. our desire
would be 10 cooperate fully in the
development OF the commerce Of tie
United States. always within not
only tho letter but the spirit Of the
law. We consider il necessary that there
should be complete understanding. out
II Is our desire and wish 10 comply with
any regulations that would prevent any
possible criticism being made as 10 the
operation Of this company being COM
bination OF trust in restraint OF trade
Under the Sherman antitrust act or any
future legislation Of the United States
government
II this understanding can be mad We
hold ourselves prepared to take suhstan-
tial interest in the forma ton Of such an
American company. Our long and sue
ctssful experience In oversee trsriic leads
US 10 believe We could be Of great benz
1T 70 such a company and, further. from
our experience lend to make il proiita bic
10 the American capital invested a. well
as our own.
Mr. Baker said the Hamburg American
Line is willing 10 build ten ships. register
Them under the American flag and make
them a part OF the American merchant
marine, 10 meet the threatened shutting
out OF foreign vessels IN the cosstwiss
trade. He asserted that the company is
willing TO comply with All the mari .ime
avs now on the statute books, or any
avs which may hereafter be placed
thereon. II the suggestion meets with &
favora ole response from official and other
sources, Mr. Baker said. he Hamburg
American Line Is ready 10 supply one
half OF all the capital needed for such a
Inc "a he attempted 70 finance several
fears $50