CONSOLIDATED STEAMSHIP LINES Stock 1907. Charles W. Morse Shipping Empire. VF++

Description

Consolidated Steamship Lines. Stock issued on June 6, 1907. Incorporated in 1906 in the State of Maine.
Embossed company seal bottom center. Certificate
No. 2162
was issued to De Haven & Townsend for 100 shares of capital stock (0 per share). Company capital was
,000,000
. Hand signed by company
president F. A. Jones
and treasurer. Certificate is about 8” x 11”. Black print with green overprint/underprint.
Beautiful vignette of a large ocean-going steamship with other ships behind.
The Consolidated Steamship Lines was founded in 1906 by Charles W. Morse who owned the Eastern Steamship Company. Morse organized the Consolidated Steamship Company as a holding company for Metropolitan Steamship Company, Eastern Steamship Company, Clyde Steamship Company, and Mallory Steamship Company. Despite an initial announcement of such a sale, Morse failed in his attempt to purchase the Long Island Sound fleet of the New York, New Haven and Hartford. He did, however, acquire control of the New York and Cuba Mail Steamship Company and the New York and Porto Rico Steamship Company in 1907. In addition, Morse controlled the Hudson Navigation Company until its bankruptcy in 1921.
Morse parlayed this success into a prominent role in high finance in New York City. Morse controlled the National Bank of North America, the New Amsterdam National Bank and was a large owner of the Mercantile National Bank. He became a close associate of F. Augustus Heinze, who became president of Mercantile National, and E. R. Thomas, a young man of large inherited fortune. Their influence grew—Heinze and Morse served as directors together on at least six national banks, 10 state banks, five trust companies and four insurance companies.
After the Wall Street "Panic of 1907", the Morse-controlled steamship lines went into receivership, for varying periods, in February 1908. In 1916, Morse announced plans for a new transoceanic steamship line, which he organized as the United States Shipping Company. This holding company exchanged its stock for that of 16 subsidiary companies, each organized around a steamship. During World War I he was president of United States Steamship Company, which was the parent company of Groton Iron Works and Virginia Shipbuilding Corporation. The Consolidated Steamship Lines was succeeded by the Atlantic, Gulf & West Indies Steamship Company which was formed in 1908. The Consolidated properties were acquired through foreclosure.
Condition:  Very Fine++
, light folds, very minor creasing, no tears, light signs of wear/handling/toning (see photos),
uncancelled.
Printer:
American Bank Note Company.
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escription details shown above before bidding.
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