Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-01-28
SHIP INTERESTS
Of BRITAIN ARE
To Be PROTECTED
nv The Associated Press)

Washington, Jan. 27,-OIuclals
| of the International Mercantile Ma
rine company, headed by L. A. 3
Franklin, president, today gave the
shipping board, sitting as an in
vestigating body, their story OF
their twenty-year agreement with
the British government stipula'inB
that they pursue no policy lhJufl-
GUS to the interests of the British
mercantile marine or of British
trade" The agreement was brought
to the notice of the board through
an address by Senator Jones 81
Washington.
President Franklin reviewed the
history OF his company and defend
ed its policies, which he character
lied as being lone hundred per
cent American at all times lie
presented a list of shareholders 10
substantiate his statement that "a
per cent of the company was own
ed by Americans, Gin the United
States" and offered other papers
to show the "Americanlsm' of his
managing officials, none of whom,
he declared, was a foreigner.
Most Tonnage Registered Abroad.
Questions developed that 81 per
cent of the more than l.OOO,Ooo
tons of shipping operated by the
company was registered abroad and
was subject to requisition by those
foreign governments in case of war.
Attention also was directed to the
clause of the agreement specifying
that a majority of the directors OF
subsidiary companies in England
must be British subjects.
Statements made on these points
both international mercantile ma
rine officials caused Chairman
Benson to say that although Am
orleans owned the vessels actual
control rested with the foreign di-
rectors of the subsidy companies.
Mr.. Franklin declared, however, that
the stock was locked up in New
York, owned by Americans" and
the foreign control could not af-
feet operation of ships by his COM
pany.
Reconstruction Program.
The next step in the inquiry will
be taken by the board in executive
session after the case has been dt-
gested by the commissioners. The
board also will consider an "invi-
tation" extended today by Mr.,
Franklin and his legal adviser. j..
Parker Kirlin, to tell the Interna-
tional Mercantile Marine what 1t
can do to establish the American
mercantile marine in the most de-
sireable and effective way"
Mr.. Franklin described his COM
pany as an "outcast" despite the
fact, he said, it had attempted to
sell it's British tonnage to get
money to buy American vessels,
flying the American flag" and
would have done so but for the OBJ
lection of President Wilson. He
said that the British at first re-
garded the international mercantile
marine as an American trust in
England. and as an invasion of
American financiers in British
trade"
The feeling in England was so
strong. he said, that tho British
government was compelled to take
measures of self-protection."
Reviewing the operations of his
vessels since the agreement was
maui, Mr. FRANKLIN utCIdEeu ltit
part of it and experience had prov
en- that they would not, unless an
other emergency such as the world
war should cause them to requisi-
ton ships for the British flag. He
said the agreement did not affect
the vessels operated by the inter-
national mercantile marine under
the American flag.