The Shipping Trust.

Manawatu Herald, 7 October 1902, Page 3

The Shipping Trust.

The Morgan shipping combination fias been at Trenton, New Jersey, under the designation of " The international Mercantile Marine Company." The capital is a hundred and twenty million dollars (£24,000,000). Mr Morgan is not a director. Mr Clinton Edward Dawkins, partner in the firm of ]. S. Morgan and Co., is chairman of the British Committee, nod th» Right Hob. W. ]. Pirrie.of the shipbuilding firm of Hxnrismd and Wolff, Belfast, and Mr Ismay, of the White Star line, are members. It is believed they are endeavonrins to effect B woriringarrangenient with the Cunard line Canadian business men are satisfied that t fie Imperial Government's (agreement with the Cunard line will safeguard Canadian interests by preventfog Mr Morgan's supremacy. The New York Post says that the nredoihinant feeling in Wall street is that the subsidy to the Cunard line is a severe blow to the Morgan oombinatl°The International Mercantile Marine Company’s stock has been entirely subscribed by those directly interested. The Daily Express states that the •bam do not carry voting power, which lot !tbe purpose of continuity of policy Is vested in Mr Morgan and four other voting trustees, namely, Mr Ismay, Mr Rime ahd two American?.