Description: Shipping Stock. Famous 'Titanic' stock. This co. owned White Star Lines & the Titanic. Vignette of ship similar to Titanic with tugboats. A Classic!!! Please specify color. The International Mercantile Marine Company (IMM), initially known as the International Navigation Company, was a shipping trust established in the early 20th century with the aim of monopolizing the maritime trade. Founded by prominent shipping figures"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 trust was heavily financed by J.P. Morgan & Co., under the leadership of financier J.P. Morgan. IMM also maintained profit-sharing agreements with the German Hamburg-Amerika Line and North German Lloyd Line. The formation of IMM alarmed the British shipping industry, leading to a significant response: the British government subsidized the Cunard Line to build the RMS Lusitania and RMS Mauretania, aiming to compete with IMM's dominance. Since 1902, the International Mercantile Marine Company (IMM) had an agreement with James Pirrie, chairman of Harland & Wolff and a key figure in the management of the White Star Line, to have all of its vessels constructed by Harland & Wolff. This arrangement ensured that IMM's fleet was consistently built by the renowned shipyard. The IMM also employed a strategy of transferring ships between its various lines. For example, the SS Belgic, initially built for the White Star Line, was later transferred to the Red Star Line and renamed SS Belgenland in 1914. Similarly, the Regina was rebranded as the Westernland. This practice allowed IMM to maintain a daily shipping schedule from the United Kingdom and provided passengers with the flexibility to switch tickets between different vessels within the companys fleet. After the integration of the Atlantic Transport Line into IMM, Bernard N. Baker retired from his role at the Atlantic Transport Line and was succeeded by Philip Franklin. Franklin later became vice president of IMM. Additionally, Joseph Bruce Ismay, who was president of the White Star Line, replaced Clement Griscom as president of IMM in 1904. The early 1910s were a critical period for the International Mercantile Marine Company (IMM). The sinking of the Titanic, the fleet's flagship, on April 15, 1912, during its maiden voyage, was a significant turning point. The disaster resulted in considerable financial and human losses and had a profound impact on the trusts organization. In the aftermath, the American commission of inquiry, led by Senator William Alden Smith, harshly criticized both the principles of IMM and J.P. Morgan, who had been a central figure behind the trust. Prior to the Titanic tragedy, it had already been planned for J. Bruce Ismay to step down as president of IMM. He was succeeded by Harold Sanderson in 1913. J.P. Morgan passed away on March 31, 1913. Following a receivership in 1915-16, Sanderson was replaced by Philip Franklin, who had served as the receiver during the financial difficulties. Item ordered may not be exact piece shown. All original and authentic.
Price: 17.5 USD
Location: Portsmouth, New Hampshire
End Time: 2024-11-27T20:41:46.000Z
Shipping Cost: 6.25 USD
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Return shipping will be paid by: Buyer
All returns accepted: Returns Accepted
Item must be returned within: 30 Days
Refund will be given as: Money Back
Return policy details:
