Evening star., 1926-11-28
BIG i. S. FLEET SEEN
IN WHITE STAR SALE
Morgan's Dream Nearer as
Money Is Available to
Buy American Ships.
~ the Associated Press.

~ the Associated Press.
NEW YORK, November 27.-The
dream of the elder J. Pierpont Nor.
gan of a gigantic merchant fleet sail.
ing the seven seas and flying the
American flag drew nearer realization
today with the cable news from Lon
don that the Royal Mail Steam
Packet Co. of England will acquire
the capital stock of the White Star
Line next January.
Under the control Of the Interna-
tional Mercantile Marine Co., the big
ships of the White Star Line have
been sailing under the British flag
and registry since the line was ac-
Quired for the International by the
house Of Morgan as the foundation Of
Morgan's pet plan for an all-American
feet Of merchant ships over % years
ago.
Price Reported 5000, 900.
The purchase price Is not given,
but reports have 1t that the Royal
Mail paid about $50, 100000 for the
White Stars 100000 tonnage. With
this money the International Mer-
camille Marine Co. is expected to
finance the purchase of ships of only
American registry. Negotiations may
lead to the purchase of the big liner
Leviathan, now controlled by the
United States Shipping Board, as we'll
as other large passenger ships of the
board.
The sale announced In London re-
moves from American control and op-
GRAFTON some Of the largest ships that
ply the transatlantic lane. The
Homeric. Majestic. Celtic, Cedric and
Adriatic are among the large ships
sold.
The elder Morgan created the In
ternational Mercantile Marine in 1902.
His interest in an American feet OF
merchant ships was stimulated by
Clement A. Griscom Of Philadelphia
and Bernard M. Baker of Baltimore.
Law Held Up Plan.
The White Star Line, rivaling in
importance the Cunard Line. was
taken over, but Morgan ran afoul Of
the American laws that prohibited the
transfer of foreign-built ships to
American registry.
Other ship companies were also
taken over, including the Red Star,
the Leyland and Dominion Lines, hut
the White Star gave the International
its great strength.
The sale was officially confirmed by
John Fl. Thomas, vice president of
the international Mercantile Marine
Company
Mr.. Thomas said that announce.
ment OF the sale had come to him in
q cable from p. A. S. Franklin, presi-
dent Of the company, now in London.
Today's transfer will probably be
followed by the sale also of the
British flag vessels owned by the
Atlantic Transport Co, an 1. NJ. M.
subsidiary. Mr.. Thomas said, when it
was suggested to him that the White
Star Line sale was only the first step
In new policy to discard all foreign
vessels of the 1. NJ. NJ. in order to
substitute American-built vessels.
100 Vessels Involved.
Mr.. Thomas explained that more
than 100 vessels and a half interest
In another company operating II yes.
sells are involved in the deal made
public today. With the White Star
tonnage goes the subsidiary George
Thompson & Co, operating vessels
Of 70,063 tons, and a. per cent in
terest in Shaw, Savill & Albion Co.,
Ltd, operating II vessels with 176,.
s56 tonnage.
The two latter companies operate
in the Australian and colonial trade,
and together with the White Star
Line will continue to be operated by
the /. NJ. M. as agents in the United
States and Canada for the new own
ers pending other arrangements, It
was said.