The Shipping Combine.
SALE OP THE WHITE STAR LINE. Tha “ Daily Express ” states that Mr Pierpont Morgan has bought the White Star line right out, including its Australian connections. The terms of sale exclude the company buying or building ships or engaging in shipping business for tea years. The price paid to the White Star Company was £9,000,000, seventy- r t five per cent in cash, and the balance * in stock in the Navigation Syndicate. The Leyland line receives £1,800,000 and the Dominion line £1,200,000 from the combine. Mr Morgan’s commission for carrying out the scheme amalgamating the Atlantic shipping companies is a million and four hundred and fifty thousand dollars.
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Manawatu Herald, 6 May 1902, Page 2
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111The Shipping Combine. Manawatu Herald, 6 May 1902, Page 2
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