The most important shipping event in North Atlantic history was the creation of the International Mercantile Marine company (IMM) in 1902. This giant shipping trust was the brainchild of the Philadelphia Quaker shipping magnate Clement Acton Griscom and was made possible by the financial backing of the New York banker J. P. Morgan. Among the many U.S., Belgian, British, Dutch and German lines controlled by the IMM, certainly the most famous among the British-flag steamship lines was the Oceanic Steam Navigation Company--more commonly known as the White Star Line.
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