Grace's Guide

British Industrial History

Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 133,396 pages of information and 211,465 images on early companies, their products and the people who designed and built them.

Frederick Leyland and Co (1900)

From Graces Guide

Jump to: navigation, search

of 27 James Street, Liverpool

1900 The company was registered 28 May to take over the business of Frederick Leyland and Co (registered in 1892 to acquire the business of steamship owners of the firm of the same name), and the West India and Pacific Steamship Co. The company also holds practically all the shares in the Wilsons and Furness-Leyland Line. [1]

1901 John Ellerman sold most of Leyland & Co to J. P. Morgan, the American financial magnate, for £1.2 million, said to be 50% greater than its actual worth[2], as part of his plans to form International Mercantile Marine Co. Ellerman retained 20 ships not involved in the USA trade (i.e. to serve the Mediterranean, Portugal, Montreal and Antwerp).

1902 The International Mercantile Marine Co of New Jersey acquired a controlling interest in the company.

1901 To provide an organisation to operate the remaining ships, Ellerman personally bought the stagnant Greek shipping company Papayanni Co and later Hall Line.

June 1901 the London, Liverpool and Ocean Shipping Co Ltd was formed as parent company for the revised organisation with Ellerman holding 52% of the shares. In September it was announced that the parent company had bought 50% of the shares of George Smith’s City Line and a month later 50% of Hall Line Ltd of Liverpool and Westcott and Laurence of London. Ellerman personally bought the balance of the shares in the two companies. At the end of the year, a major restructuring of the group took place with all of Ellerman's holdings being sold to the parent for additional shares.

1902 the name of the company was changed to Ellerman Lines Ltd.


See Also

Loading...

Sources of Information

  1. The Stock Exchange Year Book 1908
  2. Biography of John Reeves Ellerman, ODNB [1]