ATLANTIC STEAMSHIP LINES.

Evening Post, Volume LXIV, Issue 83, 4 October 1902, Page 5

ATLANTIC STEAMSHIP LINES.

THE MORGAN SYNDICATE. ALL THE CAPITAL SUBSCRIBED. [PBESS ASSOCIATION.] LONDON, 3rd October. The International Mercantile Marine Company's stock Has been entirely subscribed by those directly interested. The Daily Express states that the shares do not carry voting power, which for the purpose of continuity of policy is vested in Mr. Morgan, and four other voting trustees — namely, Mr. Ismay (manager of the White Star Line), Mr. Pirrie (Chairman of the-Harland and Wolff Shipbuilding Company), and' two Americans. Half the capital of the Mercantile Marine Company will be in preference stock, carrying 6 per cent, cumulative interest. The company has authorised the issue of bonds to the extent of fifteen millions sterling at 4£ per cent. The Times, commenting on the figures, says they imply an anticipation of a profit of nearly two millions annually, but inward freights are very low, and economies of management will be limited by the retention of separate Boards under the agreement given to Britain. The Times adds — "Our control of the Atlantic trade will be measured in the long run by the capital we invest."