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The Growth and Dissolution of a Large-Scale Business Enterprise (Research in Maritime History 49, 2012), chapter 4: "Trouble on the Transatlantic Route." Gittelman, Steven H.: J.P. Morgan and the Transportation Kings – The Titanic and Other Disasters. University Press of America, Inc., 2012 (ISBN 978-0-7618-5850-8)
In 1902, J.P. Morgan & Co. financed the formation of International Mercantile Marine Co. (IMMC), an Atlantic shipping company which absorbed several major American and British lines, in an attempt to monopolize the shipping trade. Morgan hoped to dominate transatlantic shipping through interlocking directorates and contractual arrangements with ...
In 1902, Ismay oversaw the sale of the White Star Line to J.P. Morgan & Co., which was organising the formation of International Mercantile Marine Company, an Atlantic shipping trust which absorbed several major American and British shipping lines. IMM was a holding company that controlled subsidiary operating corporations.
As early as the 1880s, Griscom believed that the major shipping lines should be combined into a trust to control capacity and pricing. As a result of the 1899 refinancing, he became acquainted with J. P. Morgan, the investment banker who was successful in putting together large trusts. Morgan was then in the process of building U.S. Steel, the ...
American millionaire businessman J. P. Morgan had decided to invest in transatlantic shipping by creating a new company, International Mercantile Marine (IMM), and, in 1901, purchased the British freight shipper Frederick Leyland & Co. and a controlling interest in the British passenger White Star Line and folded them into IMM. In 1902, IMM ...
The White Star Line was a British shipping line. Founded out of the remains of a defunct packet company, it gradually grew to become one of the most prominent shipping companies in the world, providing passenger and cargo services between the British Empire and the United States. While many other shipping lines focused primarily on speed, White ...
The price of gold is higher in New York than in London owing to fears that President Donald Trump could impose a blanket tax on all imports from Europe. JPMorgan and HSBC are the biggest names ...
The ships used by the shipping company were mainly cargo ships, some of which had few passenger facilities that only had transport for emigrants. The liner services developed well and the shipping company became the largest transatlantic freighter line. in 1888, Leyland retired from his active business leaving his son, Frederick Dawson Leyland ...