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The Growth and Dissolution of a Large-Scale Business EnterpriseThe Furness Interest, 1892-1919$
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Gordon Boyce

Print publication date: 2012

Print ISBN-13: 9780986497391

Published to Liverpool Scholarship Online: January 2019

DOI: 10.5949/liverpool/9780986497391.001.0001

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The Growth of Shipping Services, 1902-1909

The Growth of Shipping Services, 1902-1909

Chapter:
(p.107) Chapter 5 The Growth of Shipping Services, 1902-1909
Source:
The Growth and Dissolution of a Large-Scale Business Enterprise
Author(s):

Gordon Boyce

Publisher:
Liverpool University Press
DOI:10.5949/liverpool/9780986497391.003.0006

This chapter charts the expansion of the Furness Group from 1902 to 1909 as they responded to the growth of American liner competition and shifting environmental conditions by engaging in other trades and amassing other resources. It analyses trends in trade, freight rates, tonnage, profit; the Furness Group’s profitability between 1900 and 1909; changes in patterns of growth; the North Atlantic trade stalemate between 1902 and 1909; the poor financial performance of Manchester-based liners; the Furness Group’s attempt to develop new liner trades beyond the North Atlantic into the Persian Gulf, South America and Australia; developments in tramp and contract trades; fleet expansion and consolidation; and insurance, salvage, repair, and provisioning interests. It concludes that by changing the composition of the Furness Group’s interests between 1902 and 1909 the company developed new and productive trade interests beyond the North Atlantic and escaped the trade deadlock. They would adjust the direction of services and expansion again in 1910, once the demand for shipping services resurfaced.

Keywords:   International Mercantile Marine, Canadian Pacific Railroad, Anglo-Australian Trade, Persian Gulf Shipping

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