The Bridgeport evening farmer., 1915-04-03
RECEIVER ASKED . FOR MERCANTILE MARINE COMP ANY New York Trust Company Files Application Against
 Morgan's Firm. CONCERN IN CONTROL
 OF 1I9 BIG VESSELS Three Countries' Flags Flown on Ships Was
 Owner of Titanic.

New York, April 8. - Application was made in the United States dis trist court here to-day flor the ap- pointment of receivers for the Inter national Mercantile Marine Company on a bill of complaint, filed by the New York Trust Company.
 k The bill of complaint was hIed against the International Mercantile Marine, the Fidelity Trust Company and the international Navigation Company.
 The bill of complaint claims de- fault of interest on $52.254,oOO at 45s per cent collateral interest bonds.
 The fleet that flies the flag of the International Mercantile Marine Co.,, was brought together by syndicate Of American and British capitalists under the leadership of the late U Pierpont Morgan The corporation, in it's present form, was chartered by the state of New Jersey in 1902 and succeeded the International Nav igatfon Company, which had then been in existence for nine years.
 One hundred and nineteen steam ships flying the flag of three nations Great Britain. the United States and Belgiurn-were operated by the company according to the latest avail able figures. There were then build ing IS more ships with 208,00O tons capacity Some of these ships have
 
 owned the, White Star liner Titanic which sank with the loss of more than 1,60O lives in the Atlantic three years ago and her sister ship, the Olympic, one of the largest vessels in the world.
 More than $I00, 000so0 of the com pany's authorized capital of $120,- 900, 900, has been issued. J. P Nor gan and Company are large stockhold- CTS MT. Morgan is g director of the company. The company,s funded debts Is Approximately $7O,000.000 and is made up of two issues of bonds, the big issue on which interest has been defauIted and an issue Of SIT, 1882, 900 first mortgage, i've per cent. bonds of the international navigation com pany.
 The interest on the s52.744, GOO bond issue was due October 1, but a saving clause in the bonds give the com pany six months grace in which to make the payment.
 No steamship was directly operat-- ed in the trans-Atlantic service by the company. their operation being left to subsidiary corporations. The company directed the operations White Star Line, the Red Star Line, the American Line. the Atlantic Transport Company, the Leylahd line and the Dominion line. The last company should not be confused with the Old Dominion line which ope- rates coasbwise steamers between this city and Virginia ports.
 W. W. Miller, of counsel for the bondholders' committee issued a, statement in which he said: '.It is understood that in the event the rs- oeivership will only relate to the prop. erties directly owned by the Interna- tonal Mercantile Marine Company, such as the American line. and the Red Star line. It will not in any way effect the so-calIed subsidiary coHn- panieg. such as the White Star line, the Atlantic Transport line, the Do- miniou line, or the Lseyland line. If a recedvership is appointed. it will not in any way whatsoever interfere with or disturb the operation of the com pany or its subsidiary companies.''