Welsh Newspapers

Search 15 million Welsh newspaper articles

Hide Articles List

21 articles on this Page

GREAT SHIPPING COMBINE.1

News
Cite
Share

GREAT SHIPPING COMBINE. 1 TKANSLANTIC LINES AMALGAMATE. BIG CAPITAL. The great transatlantic shipping combine, which has been n the air for so long, is now firmly established on the high seas. Accord- ing to the information which has become public on this side of the water, the following are the steamship companies which have pooled their interests: — British. American. White Star line. Atlantic Transport line. Dominion line. American line Leyland line. Red star line. German. j Hamburg-American and North-German Lloyd lines. The important features of the combine are as follows: — 1. No change of flag; each line retailing its own identity and nationality. 2. No change of management. 3. Harmony of working to achieve reduc- tion of expenditure"; in other words aboli- tion of competition. 4. The advantage of working in complete unison with the great railways on the other side. The combination has been brought about bv the recogniseâ impossibility of maintain- ing the ruinous competition which has ex- isted between the great Atlantic lines. xt was obvious that this would have led in the long run to the extinction of some of the competing lines, and in the immediate future to an increase of rates. The companies were, in fact, faced with the alternatives of con- tinued competition and increased expendi- ture, or harmonious combination and reduc- tion of expenditure. They—or the majority of them-have wisely enough chosen the lat- ter. They have recognised that their advan- tages are common, and that there is no reason why they should not preserve t^eir identity and at the same time pool their forces. Mr. Pierpont Morgan has engineered the combination, which, it is said, will have a capital of 170,000,000 dollars, of which 60,000,000 will be 6 per cent. cumulative pre- ferred stock. 60,000,000 common stock, and 50,000,000 4j per cent. debentures. The un- derwriting syndicate has subscribed fifty million dollars. A working arrangement has been made with the North German Lloyd and Hamburg-American lines.

— CHINESE REBELLION,

- SWANSEA POLICE COURT.\

[No title]

- NOTES BY WATCHMAN.

FIRE.

BRITON FERRY

BURRY PORT AND DISTRICT.I…

[No title]

Advertising

—————'—-a GOWERTON-

PBACG F RO^iVECTiS.

LISER SUNK.

jEARTHQUAKE IN AMERICA.

--LONDON WAREHOUSE DESTROYED…

! DEATH OF DR. E. FOR8YTIL

j | FASHIONABLE WEDDING.

RAILWAY RETURNS.

Advertising

Family Notices

[No title]