USA / Netherlands - International Mercantile Marine Company (Titanic)- SPECIMEN

Description

USA / Netherlands  - International Mercantile Marine Company (Titanic)- SPECIMEN
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.
A proposed subsidy bill in the United States Congress failed, which became widely apparent by April 1902 and the company thus was never truly successful. Beginning in the 1920s, the company underwent a series of corporate acquisitions and mergers, which resulted in its becoming the United States Lines in 1943.
Issuer:
International Mercantile Marine Company (Titanic)
Type :
proof of eligibility - SPECIMEN
Nominal: -
Country : Netherlands
Place : Amsterdam
Issue date : -
Cancelled: Yes
Coupons : No
Quality : VF, unfolded (see photo)
Shipment Worldwide
Europe
USA
China
Russia
< 100 grams
6,00
6,00
6,00
6,00
100 - 350 grams
12,00
12,00
12,00
12,00
>350 grams
18,00
20,00
20,00
20,00
I will combine wins in one shipment to save shipment cost. However if the total wins exceeds 100 grams additional shipments cost are added.
Shipment will be done in a strong envelope with hardboard cover. Amounts above USD 200 require to be send by registered mail at an additional cost.
Winning bidder to pay by PayPal. Other payment methods may be accepted upon request. Please note that I am located in the Netherlands.