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Show Morgan "Rules n? Ng the Waves. The purchase by tho Plerpont Mor-1 gsn Interests ot the control ot the Ley-lsnd Ley-lsnd line of stesmers Is the most mo-1 toentous event thst has occurred In tho field ot world commerce com-merce since the Confederate cruisers cruis-ers drovo tho American Am-erican flag from the ocean. It means nothing less than thst American capital cap-ital Is preparing to grssp that sovereignty sover-eignty of the seas which we seemed on the point of attaining at-taining fifty 'years ago. The Leyland line own i flfty.four steamers ot 213,000 Urns. The Wilson line, which belongs to the Leylands, b eighty-seven steamers of 189,193 tone. The Atlantlo Tranaport line, which Is already In American bands, and which, according accord-ing to current reports. re-ports. Is to be consolidated con-solidated with the Leyland aystem.hai M stesmsrs of 81.- At pressnt the largest merchant fleet In exlstsnce Is thst ot tho Hamburg-American Hamburg-American line, with ninety-five steam- OULL1VEB MOItOAN COMINO HOME. "J tons. Hire are 101 vessels of 615.-71 615.-71 tons. But that Is not all. It Is said that " AmerUan line, of twenty-six wamsra and 187,000 tons. Is to be part of the combination. Thla would ako In all 190 vessels of 702,741 tons, t more than twice the entire present registered steam tonnage of the United States. To be aure It Is said that the present English head of the Leyland line has "pulsted that the Mediterranean, Portugal Por-tugal and Montreal fleets of tho line are to be sold to him, but this deduction deduc-tion will probably be balanced by tho gigantic now Jjulldlng programme of the American combination, In any tho American company will bo by far the greatest steamship owner In the world. ers of 513,028 tous, Tho second Is that of the North German Lloyd, with 108 steamers ot 501.010 tons. The third In the wld, and the largest under th British flag. Is thsl ot the British India Steam Navigation company, with 122 ahlps of 383,710 tons. Then comes the "1, t 0" with fifty-eight vessels ot 313,392 tons Imagine John Bull's feelings when the first merchant fleet In the world la American, the second and third tier-man tier-man and only the fourth British, Will be still sing "Britannia Itules the Waves" with undiminished cheerfulness?" cheerful-ness?" asks tho Chicago American, Tho report that tho new ships to be ordered by the Morgan combination will be built In the United States Is Inherently probable It wilt be to Die Interest of the steel trust nnd Its asso- H dated shipyards to hsve such a mar- H ket for their products. By supplying H It they assure themselves at once a H means of tiding their works over slack H time. They create in Immeneo new H demsnd that Is not affected by forelga H tariff policies. H Whin Mr. Morgan crossed the AU H lantlo a wavo of terror ran ahead ot H him. People on th other aide were H sure he was going to do something H terrible they could not guess what H But none-of them Imsgtned that hs H would da anything so dreadful as to H challenge British supremscy at sea. H |