International Mercantile Marine Co. - Company that Made the Titanic - 1915-20's dated Shipping Stock Certificate
Inv# SS1005 Stock
Shipping Stock. Famous 'Titanic' stock. This company owned White Star Lines and the Titanic. Vignette of 'Titanic' type ship with tugboats. Also lady with an anchor. It is interesting to note that the hole cancellation includes JPM & Co. which represents J. Pierpont Morgan & Company. Morgan controlled this very large enterprise and it proved to be one of his poorer investments. Available in Green, Purple, Olive or Blue. Please specify color.
The International Mercantile Marine Company, originally the International Navigation Company, was a trust formed in the early twentieth century as an attempt by J.P. Morgan to monopolize the shipping trade. IMM was founded by shipping magnates 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 bankrolled by J.P. Morgan & Co., led by financier J. P. Morgan. The company also had working profit-sharing relationships with the German Hamburg-Amerika and the North German Lloyd lines. The trust caused great concern in the British shipping industry and led directly to the British government's subsidy of the Cunard Line's new ships RMS Lusitania and RMS Mauretania in an effort to compete.
IMM was a holding company that controlled subsidiary corporations that had their own subsidiaries. Morgan hoped to dominate transatlantic shipping through interlocking directorates and contractual arrangements with the railroads, but that proved impossible because of the nature of sea transport, American antitrust legislation, and an agreement with the British government. One of IMM's subsidiaries was the White Star Line, which owned the RMS Titanic. Analysis of financial records shows that IMM was overleveraged and suffered from inadequate cash flow that caused it to default on bond interest payments in late 1914. As a result, a "friendly" receivership was put in effect in 1915, which allowed IMM to reorganize its finances; it emerged from the receivership in 1916. Saved by World War I, IMM eventually re-emerged, after a merger with Roosevelt Steamship Company, as the United States Lines, which itself went bankrupt in 1986. Some businesses of the modern shipping industry still regard IMM as an early attempt at the corporate ownership of several companies under a single trust; the kind of large overseeing companies that dominate much of the maritime shipping world today. Read more at https://en.wikipedia.org/wiki/International_Mercantile_Marine_Company
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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