The heads of the British merchant marine, representatives of six fleets totaling 52 trans-Atlantic liners valued at $275,000,000, gathered in London last week, emerged with a weighty pronouncement: because of the falling off in Atlantic trade and passenger traffic, the Cunard,
White Star, Red Star, Anchor, Canadian Pacific and Atlantic Transport lines have agreed to a "rationalization" scheme to cut down expenses, avoid overlapping service, remove wasteful competition among themselves.
The shipping tycoons wished it to be understood that this was by no means a merger of British lines such as has been insistently...