SHIPPING MERGER.
International Company Under
American Flag.
U.S. RAILWAYS INTERESTED
NEW YORK, August 3.
The control of the International Mercantile Marine Company with a fleet of 40 vessels, with a tonnage of 427,000, has passed to the Roosevelt Steamship Company. Mr. Croit Roosevelt, Mr. Basil Harris and Mr. John M. Franklin will be the vice-presidents of the new company. Mr. P. A. S. Franklin will remain the president.
The disposal of the International Marine's foreign tonnage is planned by the new company, in order to develop the American- service.- It is also reported that the Pennsylvania and the Baltimore and Ohio Railway Companies arc interested in the matter.
The Eoosovelt Line operates a fleet of 24 motor ships from Atlantic ports to Far East. It is understood that it will be merged with the new company.
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Bibliographic details
Auckland Star, Volume LXI, Issue 182, 4 August 1930, Page 7
Word Count
136SHIPPING MERGER. Auckland Star, Volume LXI, Issue 182, 4 August 1930, Page 7
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