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Show PLANNING GREAT STEAMSHIP LINE Twenty Million Dollar Corporation Corpor-ation to Operate Between New York and Vigo, Spain. New York, April 20. Plans for tho organization of a $20,000,000 corporation corpora-tion to operate the proposed steamship steam-ship line under the Spanish flag, between be-tween Vigo, Spain and Now Tork, were announced hero today by tho local SpaniBh-Amerlcan chamber of commerce, which confirmed recentj reports that the Spanish government, In June, would grant legislative sanction sanc-tion to the project A fleet of eight fast passenger and freight vessels will be operated. Americans to Finance Scheme. The Spanish government intends to guarantee tho corporation earnings 6f 5 por cent It is proposed to have the line financed with American capital cap-ital pending the construction of vessels ves-sels of modern type a provisional service ser-vice will bo established with three steamers sailing every ten days. net |