Search results
Results from the WOW.Com Content Network
IMM was founded by shipping magnates Clement Griscom of the American Line and Red Star Line, Bernard N. Baker of the Atlantic Transport Line, J. Bruce Ismay of the White Star Line, and John Ellerman of the Leyland Line. The Dominion Line was also amalgamated. The project was bankrolled by J.P. Morgan & Co., led by financier J. P. Morgan.
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 ...
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.
The shipping company initially operated with a liner service to the Mediterranean, in 1875 the transatlantic ... J.P. Morgan and in 1904 the company was ...
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.
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 ...
JP Morgan Research calculated in February 2024 that the crisis had led to a near fivefold surge in shipping costs from Asia to Europe, with implications for the prices of imported goods - from ...
At around the same time the American financier J. P. Morgan's International Mercantile Marine Co. was attempting to monopolise the shipping trade, and had already acquired Britain's other major transatlantic line, the White Star Line. [3]