International Mercantile Marine - Titanic Sinking

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International Mercantile Marine - Titanic Sinking - P.A.S. Franklin as President

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Vintage Stock Certificate

Product Code: SC784-FRANKLIN

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This International Mercantile Marine Stock Certificate features the printed signature of Philip Albright Small Franklin as President. When the Titanic sank in 1912, Franklin was head of the White Star Line headquarters in New York. When he heard of the disaster he assured relatives of the passengers that "There is no danger that Titanic will sink. The boat is unsinkable, and nothing but inconvenience will be suffered by the passengers." Later that night he admitted to the seriousness, "I thought her unsinkable, and I based my opinion on the best expert advice. I do not understand it." The board of director's were happy with his handling of the disaster he was later promoted to President of the IMM Company where he served from 1916 to the late 1930s. Issued in the 1930s.

International Mercantile Marine was a trust formed by J.P. Morgan in an attempt to monopolize the shipping trade. Included in International Mercantile Marine was White Star Lines which was the owner of the Titanic. The company went into receivership in 1915 and eventually emerged as United States Lines.