For example, the Atlantic Transport line is owned wholly by citizens of the United States, although at the present moment all its ships fly the British flag.

Two new ships are, however, being completed for this line in American shipyards, the "Minnetonka" and "Minnewaska," of 13,401 tons each.

This line, started by Americans in 1887, was the first to use the so-called bilge keels, or parallel keels along each side of the hull to prevent rolling.

It now has a fleet of twenty-three vessels, with a total tonnage of about 90,000, and does a heavy passenger business despite the fact that its ships were primarily designed to carry cattle.

Quite as striking an illustration of the fact that capital is international, and will be invested in ships or other enterprises which promise profit quite heedless of sentimental considerations of flags, was afforded by the purchase in 1901 of the Leyland line of British steamships by an American.