| Show The former president of the Leyland line of steamers Mr Ellerman writes for the London Dally Mall a long explanation ex-planation of his reasons for selling his property to Mr J Plerpont Morgan The chief one he gives Is his apprehension appre-hension that the United States Government Gov-ernment will grant subsidies to American Ameri-can ships so large that European shipping ship-ping will not be able to compete with them In the oceancarrying trade He has no expectation that the British Government will follow our example In that particular so when the opportunity oppor-tunity came he sold out That Is very cool England has paid 360000000 In subsidIes to her steamships In the last forty years Sho drove the Collins lino off the Atlantic because of her subsidies and because our Government refused to renew the little subsidy It was paying In 3838 Great Britain has Just subsidized a line to run to Jamaica Jamai-ca In the fruit trade It would have been much more manly In Mr Eller man to have told the truththat Is that Mr Morgan paid him 50 per cent more than the stock In his steamship company was worth and that ho thought It a good time to sell Wo think It was a shrewd trade because the steamship business which has been very much absorbed by the Boer andPhilippine wars Is about over and the first thing the men who godown into the icu In ships know there will be a whole host of kIlo l steamships swinging their moorings in the harbors har-bors of tho world |
