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[10] [11] [12] On 1 October 1902, JP Morgan & Co. announced the founding of the International Mercantile Marine Company, more commonly called IMM. [ 13 ] [ 14 ] (Constituent elements of IMM, including INC (chartered in 1871), [ 15 ] had however been operating for many years already.) [ 7 ] IMM was incorporated in New Jersey .
In 1902, White Star Line was bought by the International Mercantile Marine Co. (IMM), owned by the American banker John Pierpont Morgan. He hoped to obtain a monopoly of the North Atlantic route by buying several shipping companies, and by entering into agreements with others such as the German HAPAG and the Norddeutscher Lloyd.
It recommended that all its affiliates join the ITF, and refocused its activity on promoting friendship and co-operation among ships' officers. It undertook little activity, holding a conference in 1948, and the penultimate meeting of its board of directors in 1951, but remained in existence.
In 1902, the company was bought by the US banker J.P. Morgan and in 1904 the company was under the control of the International Mercantile Marine Company. [4] Leyland line was given responsibility for the European part of the International Navigation Company but had to discontinue the Mediterranean service.
SS Zeeland was a British and Belgian ocean liner of the International Mercantile Marine Co. (IMM). She was a sister ship to Vaderland and a near sister ship to Kroonland and Finland of the same company. Although her name was Dutch, it was changed during World War I to the less German-sounding SS Northland.
A Panama Pacific Line contract envelope, 1915. Although IMM had begun preparations for the intercoastal service as far back as 1911, [2] service began in May 1915 with the former Red Star Line (another IMM subsidiary line) ships Kroonland and Finland.
In 1902, with financing from J. Pierpont Morgan, the companies were merged into the International Mercantile Marine shipping trust company, which operated 136 vessels over five transatlantic lines. [7] Griscom served as president of IMM from 1902 until 1904, when he retired due to ill health. [8]
In 1901 Ellerman sold this business to J. P. Morgan for £1.2 million (equivalent to £164,560,000 in 2023), who immediately folded it into the International Mercantile Marine Co. Ellerman, however, immediately began to buy other shipping lines, and in 1902 he combined his interests into Ellerman Lines. He continued to expand the business ...