The Shipping Combine.
AMERICAN INTERESTS DOMINANT. The Pierpont Morgan Company declares that American interests dominate the shipping amalgamation, which makes the United States the A real ruler of the mercantile marine.
Mr Piorpoat Morgan is the syndicate manager. The Shipping Combination proposes that Southampton should ultimately be the chief centre of operations, Liverpool being abandoned except as regards freight. The combine is capitalised at thirty millions sterling. The annual saving to the companies is estimated at throe millions. Pierpout Morgan’s combination iu- , eludes the White Star, Dominion, Leyland’s, Atlantic Transport, American and Red Star lines, controlling three hundred steamers. The North German Lloyds and Hamburg American Companies will co-operate with the combination, and it is expected that the Cunard Company will join. The capital of the combination is £41,700,000. The shipping combination has closed its subscription books. The combine proposes to develop each port along the lines to which it is best adapted. During the winter months the steamers will be restricted according to the number of passengers. The summer fares and winter fares will be classified according to the Speed and tonnage of the steamers employed.
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Manawatu Herald, 24 April 1902, Page 2
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187The Shipping Combine. Manawatu Herald, 24 April 1902, Page 2
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