MORGAN'S SHIPPING COMBINE.

Taranaki Daily News, Volume XXIV, Issue 107, 10 May 1902, Page 3

MORGAN'S SHIPPING COMBINE.

THE BUSINESSES TAKEN OVER. PBR PRFSS ASSOCIATION. Beceived 10. 1.12 a.m. Nkw York, M»y 9. The provisional agrrenvnts of tho Navigation Synd ; cate hare boon published, The corporation will be organised under American laws, with a capital of siyfcy nrPioti dollars in ordinary shares, s'Vy millions in preferred shares, at. 6 per cent, and fifty millions at 51 per cot in tru=t debentures, pavahlo in fcwentv yars, but redeemab'e by the syndicate after fiv* ! rears at 105. div'dends on ordinary shares are limited to 10 nor cent, whi'e the debentures nr<> onts'andin?. The Mbwing properties have been acquired : -The Whi»a S f ar l>'n« and i's cip'tal, end t>e business of Ismav, Imrny and Cnmnnnv, oy-nt. t.beiv ir.! r, rest in th» Asiatic Rte">n\ Company;' the Dominion Lin' - ; American and! Atlantic Transpor l Conjpany ; and a ' por'ion of the L°vlartd Line. ! Th« *ra"'fer nf the White Star a"d T)om'rion Line" imi-t be sanctioned hy represen'aM'ves of 75 pT cent, of the capital. The valu-'tio'i of hnth lines and of Tarr.inV r>uß"n°Fß is h yp-chard Mi'l". It is testified that the not, profi's for the'eir 1900, with addi'ion-O cish for expenditure nn ships building at the epd of that yo»r, and a quarter of the valuation, sha'l be pa : d in cash ; th>ee-quarters in preferred shares, with the addition of 37£ ppr cant, in ordinary shares. The American ar-rl A f 'antio Lines together rpreive 18,314,000 dollars in preferred shares, 9,157.000 dollars in ordinary char?s, and 15| per cnt csh, the eyndio-to payina for new tonppge as require'. TheLeylard Lino receives 11,735,000 dollars in cash.