International Mercantile Marine Co.
The basics, as described by Philip Franklin, Vice President, in his testimony at the American inquiry into the sinking of the RMS Titanic, on April 22, 1912.
In a general way, the International Mercantile Marine Co., through its various ramifications, owns the White Star Line, the American Line, the Red Star Line, the Atlantic Transport Line, and the National Line, and the majority of the stock of the Leyland Line.
The capitalization, in round numbers, is $100,000,000 between the preferred and common shares; $52,000,000 of 4 1/2 per cent bonds; about $19,000,000 of 5 per cent bonds, and some underlying bonds, amounting to about $7,000,000.
The business of the company is that they own steamers which are operating in various trans-Atlantic and trans-oceanic trades, carrying freight and passengers.
The International Mercantile Marine Co. owns or controls the International Navigation Co. (Ltd.) of England, which company owns the shares of the Oceanic Steam Navigation Co., which company owns the White Star steamers.
These are the directors: C. A. Griscom, E. C. Grenfell, John I. Waterbury, the Right Honorable Lord Pirrie, George W. Perkins, Charles Steel, J. Bruce Ismay, Percy Chubb, E. J. Berwind, Harold A. Sanderson, P. A. B Widener, Charles F. Torrey, J. P. Morgan, jr.
The officers are: President, J. Bruce Ismay; vice presidents, E. C. Grenfell, Harold A. Sanderson, and P. A. S. Franklin.
We have no authority or jurisdiction over the movement or direction of the ships of our company after they have left the dock of any port in the United States or Canada.If we should at any time have any instructions regarding the actual policy of the ship, we would receive these from the home office in England and that would be given the commander of the steamer in dock here.We have nothing to do with the ships in the way of giving the commander instructions regarding the navigation, or anything of that kind, of the ship, except what is passed to us by the owners of the ships. We are simply agents.
PICTURED: An old stock certificate for IMM issued to H. T. Carey & Co.
