Franklin to Succeed Him---Waning of White Star in International Combine
J. Bruce Ismay, who figured in the news a few months ago by reason of being
among the Titanic survivors, is to resign as President of the International
Mercantile Marine Company, it is understood to-day, on good authority, and
will probably be succeeded as executive head of the company by P. A. S.
Franklin, now Vice President and head of the business in this country.
Harold A. Anderson, [sic] First Vice-President, will resign at the same time,
it is understood and will be succeeded by Frederick Toppin, his assistant.
Mr. Sanderson has been head of the Liverpool office. The changes are
expected the first of next year.
The head office of the International Mercantile Marine Company, which was
incorporated ten years ago in New Jersey with a capital of $120,000,000, has
always been in this city. Clement A. Griscom was for two years president and
executive manager. When he resigned through ill-health Mr. Ismay was elected
president. Mr. Griscom's ability was thought so much of he was elected
chairman of the Board of Directors when be retired as president. He is now
seventy-two years old, and it is regarded as likely that on his retirement
Mr. Ismay will be elected to the chairmanship.
New York is already the most important port of the company. There will be a
new service out of here for the Pacific coast after the Panama Canal Canal
[sic] is opened. J. P. Morgan controls the stock of the International
Mercantile Marine, and it is understood the changes mentioned were agreed on
at a London conference with him this summer.
Mr. Franklin, who is slated to succeed Mr. Ismay, is about forty. He has
been engaged in shipping for twenty years. It is understood that with the
resignation of Mr. Ismay the White Star Line will not be so prominent in the
management of the International. One rumor is that when Mr. Ismay leaves the
presidency of the International he will become Chairman of the Board of the
London and Northwestern Railway.
Related BiographiesJoseph Bruce Ismay
John Pierpont Morgan
Harold Arthur Sanderson
P. A. S. Franklin, Frederick Toppin, Clement A. Griscom