The Washington times., 1921-01-27
PLEDGE Barred
BY FRANKLIN
American Concern Agreed Not
to Commit Overt Act
Against England.
"ALL AMERICAN" HE INSISTS
Company President Declares
Any Aid Given Rivals Is
Merely Incidental.

Even though the International
Mercantile Marine has a contract
with the British government to pur-
sue no policy injurious" to British
trade and shipping interests there is
no British influence exercised in the
control or policies of the company,
it was asserted today by p. A. S.
Franklin, president of the company.
when he appeared before the United
States Shipping Board to explain
the agreement.
DEFENDS AMERICANISM.
Franklin made positive and
emphatic defense OF the International
Mercantile Marines "Americanim,"
which, he asserted, was 100 per cent.
"We appreciate this opportunity"
he told Admiral Benson, chairman Of
the board. Our company is clearly
an American company owned by
Americans"
Only small percentage OF the COM
pany's stock, FRANKLIN said. Was
owned abroad. or the 5,SO5 shAFe-
holders who owns 4 NJ Stock. he ssxid.,
8, ss1 are AnsssisS sshs ty ! four psFs
&c At OF .-fss st5aK. xe SAID. ID oriAsa
In s.merics. about s per cent in Hol
land, per cent in Canada. and less
than per cent in England. The
company owns 100000 tons of ship
ping.
SsO,OoO,Ooo IN DIVIDENDS.
1--WE have paid American. share
holders s3O.000,000 in Dividends,
said Frlnklin. "The whole question
involved is whether this American
concern, paying good dividends to
American shareholders. does not, con-
tribute to the well being of the
American merchant marine. We
think it does.
II have been associated with this
company since 1902, and never In
that time have I seen anything or
heard anything that would indicate
any British control or restriction OF
operating our ships as we please.
Neither the British government
nor any British interests can exer-'
else any control over the I. N. n.
Neither our actions nor our policies
are submitted to any British in
terest."
DENIES SECRET AGREEMENT.
Franklin said he particularly de-
plored the existing impression that
secrecy surrounded the agreement Of
the International Mercantile Marine
with the British government. There
was no secrecy, he asserted, as the
1908 agreement. which the Shipping
Board is investigating, has been
published in the press and in Gov
ernment documents. AFranklin fur
ther declared he had sent copies Of
il to William Denman in 1917, when
Denman became chairman of the
Shipping Board.
Franklin explained in detail to the
board the reasons for entering into
the various agreements with the
British government. He said his
company owned Belgian. Dutch, and
British ships as well as American
ships. These agreements, he said,
were advantageous to his company IN
business sense and they did not
operate to the detriment of the Amer
lean merchant marine.
TELLS OF SALE PLANS.
Franklin read into the record tho
correspondence between Government
officials and the International Mer-
camille Marine regarding the proposed
sale of its British tonnage to Brit
ish syndicate in 1918. These nego-
tiations were stopped at President
Wilson's request on November 20,
1918. and the ships subsequently
were taken over by the American
Government.