Word: kylsant
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...reproof of U. S. shipping conditions was the speech of Baron Kylsant, at the annual meeting of the White Star Line, Ltd. in London last week. Two years ago he bought the 25 White Star Line ships from the most important U. S. shipping enterprise, J. P. Morgan's International Mercantile Marine Co. for ?7,000,000 (TIME, May 17, 1926, et seq.). Last year he predicted a profitable year for the White Star Line under British ownership...
This was the first time in several years that the White Star Line has paid its owners any dividends. The I. M. M. continued so successfully to be the White Star Line's U. S. agent that Baron Kylsant gladly extended their contract...
Only one personage connected with the affair seemed completely indifferent to the rumpus, threats and stump speaking. He was the buyer of the ships, Owen Cosby Philipps, Baron Kylsant of Carmarthen. For him they are a bagatelle. He is the greatest Ship Man in the world, the chairman or director of more than 20 British steamship lines with an aggregate capital exceeding ?200,000,000. His greatest and best remembered coup was to purchase, for the interests which he heads, the White
Star Line (TIME, Dec. 6, 1926). That transaction involved 35 ships and other assets valued at ?7,000,000. Therefore Baron Kylsant merely smiled, last week, at London newshawks when they asked if he expected "trouble" from the Australian unions. Lord Kylsant expects, it was learned, to augment the Australian Commonwealth Line with a few of the smaller, older White Star ships in case the Australian labor leaders are very, very good. Should "trouble" actually arise, His Lordship has but to transfer his seven bought-at-a-bargain ships to service with one of the chief companies which he directs...
Engineers have long ago proved theoretically and by individual test the superiority of the motor ship; but the old salts of the sea are still suspicious, as they were once of steam. "Sails," they said, "are safer than expanding steam." "Steam," they say, "is safer than exploding oil." Lord Kylsant, director of some 488 steamships and some 50 motor ships, said last week : "The experience of ship owners who have operated motor vessels is . . . contrary to expectation . . . that they are both reliable and dependable . . . cheaper to run . . . can carry larger cargoes. . . . Our motor ships have covered 7,500,000 miles...