International Mercantile Marine Co. - 1930's-40's dated Set of 3 Stock Certificates - Company that Made the Titanic

Famous "Titanic" Stock. Graphics by American Bank Note Company, NY. Set of 3 various denominations and colors with hole cancellations in the vignette. A Classic! Set of 3. Colors are Orange, Brown and Olive.

The International Mercantile Marine Company, originally the International Navigation Company, was a trust established in the early twentieth century by J.P. Morgan as an attempt to monopolize the shipping trade. Founded by prominent shipping magnates including 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 Dominion Line was also amalgamated. The project was funded by J.P. Morgan & Co., led by the renowned financier J.P. Morgan. Additionally, IMM had collaborative profit-sharing agreements with the German Hamburg-Amerika and the North German Lloyd lines. However, this trust caused significant concern within the British shipping industry, prompting the British government to provide subsidies to the Cunard Line’s new ships, RMS Lusitania and RMS Mauretania, in an effort to counter IMM’s dominance.

IMM served as a holding company, controlling subsidiary corporations that, in turn, had their own subsidiaries. Morgan’s ultimate goal was to dominate transatlantic shipping through interlocking directorates and contractual arrangements with railroads. However, these strategies proved futile due to the inherent nature of sea transport, the stringent American antitrust legislation, and an agreement with the British government. One of IMM’s subsidiaries was the White Star Line, which famously owned the RMS Titanic. Financial records reveal that IMM was overleveraged and faced inadequate cash flow, leading to its default on bond interest payments in late 1914. Consequently, a “friendly” receivership was implemented in 1915, providing IMM with an opportunity to reorganize its finances. The company emerged from the receivership in 1916. Fortunately, IMM was saved by World War I, which ultimately led to its resurgence. After a merger with the Roosevelt Steamship Company, IMM re-emerged as the United States Lines, which unfortunately went bankrupt in 1986.

Read More

Read Less