Table of Contents

About the Author / iii Acknowledgements / v Figures and Tables / vii Introduction / 1 Chapter 1: Furness' Shipping Services: Growth by Organic Means in the 1880s / 15 Chapter 2: The 1890s: Furness Withy's Expansion by Acquisition and Promotion / 35 Chapter 3: Diversification into the Industrial Sector, 1895-1901 / 55 Chapter 4: Trouble on the Transatlantic Route: The Formation of IMM and Furness' Response / 85 Chapter 5: The Growth of Shipping Services, 1902-1909 / 107 Chapter 6: Industrial Operations and Performance, 1900-1914 / 143 Chapter 7: The Growth of the Shipping Interests, 1910-1919 / 177 Chapter 8: Structure / 213 Chapter 9: Finance / 249 Chapter 10: Holding Company Investment Activities and Intermediary Operations / 285 Chapter 11: Personnel / 299 Chapter 12: Furness / 321 Chapter 13: Dissolution / 359 Appendix 1: Development of the Combined Fleet, 1900-1919 / 373 Appendix 2a: Patterns of Ownership: The Furness Group, 1919 / 376 Appendix 2b: Reorganizations of Branch Offices and Superintending Departments, 1911-1912 / 377 Appendix 3a: Fluctuations in Freights, Profits, Tonnage Afloat and Merchant Shipping Output / 378 Appendix 3b: Output of Merchant Tonnage (Excluding Warships), 1892-1913 / 379 Appendix 3c: Fluctuations in the Price of a 7500-Ton Cargo Steamer, 1898-1913 / 380 Appendix 4: Development of the Furness Group: Principal Promotions, Acquisitions and Divestments, 1880-1919 / 381 Appendix 5: Northern Allies and Maritime Associates / 384 Appendix 6: Contemporary Accounting Law and Conventions, 1845-1914 / 385 Appendix 7: Lord Furness' Movements, 1899-1912 / 387 Bibliography / 389 Appendix A: A Note on the Shipping Statistics, 1686-1788 / 379 Appendix B: Sources for the History of the Shipping Industry / 391 Index / 397