Recent from talks
Interlake Steamship Company
Knowledge base stats:
Talk channels stats:
Members stats:
Interlake Steamship Company
The Interlake Steamship Company is an American freight ship company that operates a fleet on the Great Lakes in North America. It is now part of Interlake Maritime Services.
The company is chaired by James R. Barker, with his son, Mark W. Barker, serving as President. Paul R. Tregurtha serves as Vice-Chairman of the company.
Interlake Steamship Company was founded in 1913 when a consortium of firms bought out the seventeen vessels of the Gilchrist Company, which had gone into receivership. The other firms were: the Lackawanna Steamship Company, the Acme Steamship Company, the Standard Steamship Company, the Provident Steamship Company and the Huron Barge Company. The combined fleet operated 56 vessels.
The new stock issued in exchange for the old companies' stocks was computed based on the average of (1) appraised value of each old company (2) earning power in 1912 of each old company. From this was subtracted outstanding debt of each company (totaling $1,335,300) which was assumed by the new company and retired in 1913. In other words, the par value of common stock was valued equal to cash at the time of the merger. The 17 ships of the Gilchrist Transportation Company were bought for $2,362,669 in cash. An insurance fund was created and funded with an initial cash deposit of $250,000. Self-insurance becoming viable with a large enough number of ships was an explicit motive for the merger. The cash required was obtained by the sale of $3 million in bonds at 97 and the sale at par of $1,196,807 in stock. The Lackawanna Steamship Company as the surviving company was renamed to Interlake Steamship Company. Pickands, Mather & Co had the controlling interest.
In 1916 13 ships (96,600 tons) were acquired from the Cleveland Steamship Company for a new total of 52 ships.
Interlake operated the second largest fleet on the Great Lakes in 1933 with 49 ships totaling 417,800 tons behind the Pittsburgh Steamship Company with 86 ships and 732,200 tons.
When Interlake launched its largest vessel in 1981, MV William J. Delancey (now MV Paul R. Tregurtha), its fleet contained 151 vessels, and was capable of carrying over three million tons of cargo at one time.
In early 2018, Interlake established a subsidiary service known as Interlake Logistics Solutions. Although its existing freight services were focused on bulk raw materials, the new service offered shipping of finished goods. The Barker and Tregurtha families, owners of Interlake Steamship, chartered the 418-foot (127 m), 14,000 short tons (13,000 t) barge Montville to provide this new service on an as-needed basis.
Hub AI
Interlake Steamship Company AI simulator
(@Interlake Steamship Company_simulator)
Interlake Steamship Company
The Interlake Steamship Company is an American freight ship company that operates a fleet on the Great Lakes in North America. It is now part of Interlake Maritime Services.
The company is chaired by James R. Barker, with his son, Mark W. Barker, serving as President. Paul R. Tregurtha serves as Vice-Chairman of the company.
Interlake Steamship Company was founded in 1913 when a consortium of firms bought out the seventeen vessels of the Gilchrist Company, which had gone into receivership. The other firms were: the Lackawanna Steamship Company, the Acme Steamship Company, the Standard Steamship Company, the Provident Steamship Company and the Huron Barge Company. The combined fleet operated 56 vessels.
The new stock issued in exchange for the old companies' stocks was computed based on the average of (1) appraised value of each old company (2) earning power in 1912 of each old company. From this was subtracted outstanding debt of each company (totaling $1,335,300) which was assumed by the new company and retired in 1913. In other words, the par value of common stock was valued equal to cash at the time of the merger. The 17 ships of the Gilchrist Transportation Company were bought for $2,362,669 in cash. An insurance fund was created and funded with an initial cash deposit of $250,000. Self-insurance becoming viable with a large enough number of ships was an explicit motive for the merger. The cash required was obtained by the sale of $3 million in bonds at 97 and the sale at par of $1,196,807 in stock. The Lackawanna Steamship Company as the surviving company was renamed to Interlake Steamship Company. Pickands, Mather & Co had the controlling interest.
In 1916 13 ships (96,600 tons) were acquired from the Cleveland Steamship Company for a new total of 52 ships.
Interlake operated the second largest fleet on the Great Lakes in 1933 with 49 ships totaling 417,800 tons behind the Pittsburgh Steamship Company with 86 ships and 732,200 tons.
When Interlake launched its largest vessel in 1981, MV William J. Delancey (now MV Paul R. Tregurtha), its fleet contained 151 vessels, and was capable of carrying over three million tons of cargo at one time.
In early 2018, Interlake established a subsidiary service known as Interlake Logistics Solutions. Although its existing freight services were focused on bulk raw materials, the new service offered shipping of finished goods. The Barker and Tregurtha families, owners of Interlake Steamship, chartered the 418-foot (127 m), 14,000 short tons (13,000 t) barge Montville to provide this new service on an as-needed basis.
Recent media