Interlake Steamship Company

House flag
Interlake Steamship Company stack markings

The Interlake Steamship Company is an American freight ship company that operates a fleet on the Great Lakes in North America.[1][2][3] 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.[4]

Founding and early company operations

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.[5] 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.

1913 Merger

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.[6][7]

CompanyIncorporatedDateShipsTonsConsideration
(common stock par value)
Lackawanna SS Co.OhioOct 14, 1906[8]749,120$1,339,588
Mesaba SS Co.OhioNov 3, 1904[9]439,6001,332,134
Acme SS Co.West VirginiaOct 12, 1903[10]330,000761,169
Provident SS Co.West VirginiaNov 18, 1901[11]322,300468,470
Interlake Co.OhioMay 1893[12][13]214,000299,242
Huron Barge Co.OhioDec 28, 1891[14]29,900203,610
Standard SS Co.West VirginiaOct 26, 1906[15]110,000181,467
Total22174,9204,585,680
(Issued for cash)1,196,807
Gilchrist Trnpt Co.OhioJan 1897[16]17120,300
Grand total39295,2205,782,487
Cash transactions
ItemAmount
17 Gilchrist ships$2,362,669
Retired bonds principal1,335,300
Bonds interest + call premium58,830
Working capital100,070
Initial insurance fund250,000
Total4,106,806

In 1916 13 ships (96,600 tons) were acquired from the Cleveland Steamship Company for a new total of 52 ships.[17][18]

Interlake operated the second largest fleet on the Great Lakes in 1933 with 49 ships[19] totaling 417,800 tons behind the Pittsburgh Steamship Company with 86 ships and 732,200 tons.[20]

Modern day operations

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.[21]

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.[22]

In April 2019, Interlake Steamship announced construction of a 639-foot (195 m) long, 75-foot (23 m) wide River-class self-unloading bulk freighter. The vessel, built by Fincantieri Bay Shipbuilding in Sturgeon Bay, Wisconsin, was the first U.S.-flagged, Jones Act-compliant ship constructed on the Great Lakes since 1983.[23] and the first constructed by Interlake since 1981.[24] The ship was christened MV Mark W. Barker in Cleveland, Ohio[23] on 1 September 2022.[25]

In December 2020, SS Badger was acquired by the Interlake Steamship Company.[26] The deal also included acquisition of the tug USS Undaunted (ATA-199) (renamed MT Undaunted), deck barge SS City of Midland 41 (renamed ATB Pere Marquette 41), and SS Badger sister ship SS Spartan, currently in long-term lay-up.[26][27] This was a part of a larger sale of assets. The Middleburg Heights, Ohio-based Interlake Holding Company acquired the assets of Lake Michigan Car Ferry Company, based in Ludington, Michigan.[28]

Fleet of vessels

The Interlake Steamship Company Vessels[29]
ImageVessel NameCommissionedDecommissionedNotes
ATB Pere Marquette 4119401988
  • Currently an articulated tug-barge united with the tug Undaunted[26]
  • Constructed as SS City of Midland 41
MV Lee A. Tregurtha1942
  • Constructed as USS Chiwawa for the United States Navy, later renamed SS Walter A. Sterling and SS William Clay Ford (II)
MT Undaunted1944
SS Spartan19521979
SS Badger1952
  • The last, and largest, coal-fired, steam engine car-ferry constructed in the United States[26]
MV Kaye E. Barker1952
  • Constructed as SS Edward B. Greene, later renamed SS Benson Ford (III)
Dorothy Ann-Pathfinder Tug-Barge1953
  • Constructed as SS J. L. Mauthe.
  • Later renamed Dorothy Ann-Pathfinder, an articulated tug-barge unit entered service after a conversion from the former straight-deck bulk carrier, Steamer J. L. Mauthe. The Z-drive tug Dorothy Ann began sailing with the barge Pathfinder in 1999
SS John Sherwin19582008
  • Currently on long-term lay-up at the Interlake Steamship Company Dock in DeTour, Michigan
MV Herbert C. Jackson1959
MV Honorable James L. Oberstar1959
  • Constructed as SS Shenango II, later renamed SS Charles M. Beeghly
MV Stewart J. Cort1972
  • First 1000-foot vessel on the Great Lakes, the only 1000-foot vessel with pilothouse forward
MV James R. Barker1976
  • Third 1000-foot vessel on the upper Great Lakes[30]
MV Mesabi Miner1977
  • Fourth 1000-foot vessel on the upper Great Lakes[31]
MV Paul R. Tregurtha1981
  • Thirteenth 1000-foot vessel on the upper Great Lakes[21]
  • Constructed as MV William J. Delancey[21]
  • Flagship for the Interlake Steamship Company
  • Longest ship ever to operate on Great Lakes
  • Queen of the Lakes since 1981
MG Winfield Scott (LT-805)19932021
MV Mark W. Barker2022
  • The first Great Lakes bulk carrier that was constructed on the Great Lakes in more than 35 years
  • The first ship on the Great Lakes with engines that meet EPA Tier 4 emissions standards
  • First Jones Act-compliant vessel on Great Lakes in four decades[23]

1913 Merger

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.[32][33]

CompanyIncorporatedDateShipsTonsConsideration
(common stock par value)
Lackawanna SS Co.OhioOct 14, 1906[34]749,120$1,339,588
Mesaba SS Co.OhioNov 3, 1904[35]439,6001,332,134
Acme SS Co.West VirginiaOct 12, 1903[36]330,000761,169
Provident SS Co.West VirginiaNov 18, 1901[37]322,300468,470
Interlake Co.OhioMay 1893[38][39]214,000299,242
Huron Barge Co.OhioDec 28, 1891[40]29,900203,610
Standard SS Co.West VirginiaOct 26, 1906[41]110,000181,467
Total22174,9204,585,680
(Issued for cash)1,196,807
Gilchrist Trnpt Co.OhioJan 1897[42]17120,300
Grand total39295,2205,782,487
Cash transactions
ItemAmount
17 Gilchrist ships$2,362,669
Retired bonds principal1,335,300
Bonds interest + call premium58,830
Working capital100,070
Initial insurance fund250,000
Total4,106,806

References

  1. ↑ "Great Lakes Book Shelf". Boatnerd. Retrieved 2016-03-14.
  2. ↑ Alex Roland; W. Jeffrey Bolster; Alexander Keyssar (2008). The Way of the Ship: America's Maritime History Reenvisoned, 1600-2000. John Wiley & Sons. pp. 367–370. ISBN 9780470136003. Retrieved 2016-03-14.
  3. ↑ Raymond A. Bawal (2011). Superships of the Great Lakes: Thousand-foot Ships on the Great Lakes. Inland Expressions. pp. 27–32, 35, 42–46, 70. ISBN 9780981815749. Retrieved 2016-03-14. The MESABI MINER has a carrying capacity identical to that of the JAMES R. BARKER at 63,300 tons. Upon entering service, these two ships provided the Interlake Steamship Company with a dramatic increase in that firm's total trip capacity.
  4. ↑ "Paul Tregurtha and James Barker Receive Silver Bell Awards" (PDF). Seamen’s Church Institute. Retrieved February 5, 2022.
  5. ↑ "BIG GREAT LAKES MERGER". New York Times. 1913-04-26. p. 13. Retrieved 2016-03-15.
  6. ↑ "The Lackawanna Steamship Co. - Proposed Merger". Commercial and Financial Chronicle. Vol. 96, no. 2496. 26 April 1913. p. 1232.
  7. ↑ "Big Lake Vessel Merger". The Marine Review. April 1913. p. 152.
  8. ↑ "Lackawanna Steamship Co. - Incorporated". Commercial and Financial Chronicle. Vol. 83, no. 2157. 27 October 1906. p. 1039.
  9. ↑ "Articles of Incorporation - Miscellaneous Companies". Annual Report of the Secretary of State [of Ohio] for the FY Ending Nov 15, 1904 (Report). 1906. p. 879.
  10. ↑ "Charters Issued in 1903". West Virginia - Corporation Report of Secretary of State Mar 4, 1903 - Mar 3, 1905 (Report). p. 677.
  11. ↑ "Abstracts of Corporations". Report of the Secretary of State of West Virginia for the FY Ending Sep 30, 1901 and Sep 30, 1902 (Report). 1903. p. 248.
  12. ↑ "Incorporated in Ohio". The Massillon Independent. Vol. 32, no. 6. 18 May 1893. p. 2.
  13. ↑ "Change of Name of Certain Corporations". Annual Report of the Secretary of State [of Ohio] for the Year Ending Nov 15, 1894 (Report). 1895. p. 486.
  14. ↑ "Miscellaneous Companies". Annual Report of the Secretary of State [of Ohio] for Year Ending Nov 15, 1892 (Report). 1893. p. 406.
  15. ↑ "Standard Steamship Company". West Virginia - Corporations Report of Secretary of State Mar 4, 1905 - Mar 1, 1907 (Report). 1907. p. 687.
  16. ↑ "News Around the Lakes - Cleveland". The Marine Record. Vol. 20, no. 3. 21 January 1897. p. 2.
  17. ↑ "New Steamship Companies". International Marine Engineering. April 1916. p. 219.
  18. ↑ "Many Lake Vessels Sold". The Marine Review. February 1916. p. 74.
  19. ↑ "Capt. W. G. Stewart Dies". The Marine Review. February 1933. p. 35.
  20. ↑ "Season Slow Starting". The Marine Review. May 1931. p. 57.
  21. 1 2 3 Mark L. Thompson (1994). Queen of the Lakes. Wayne State University Press. pp. 200, 201–204. ISBN 9780814323939. Retrieved 2016-03-15.
  22. ↑ McCafferty, Rachel Abbey (April 30, 2018). "Interlake Steamship adds new barge to fleet". Crain's Cleveland Business. Retrieved May 1, 2018.
  23. ↑ Schuyler, David (April 9, 2019). "Freighter to be built in Wisconsin shipyard will be first new U.S. flagged bulk carrier in 35 years". Milwaukee Business Journal. Retrieved April 10, 2019.
  24. ↑ "GREAT LAKES OPERATOR INVESTS LOCALLY". The Motorship. June 26, 2020. Retrieved August 31, 2020.
  25. 1 2 3 4 5 6 7 Ferretti, Christine (December 31, 2020). "Iconic Great Lakes car ferry SS Badger sold". The Detroit News.
  26. ↑ Prinsen, Jake (December 31, 2020). "S.S. Badger car ferry has new owner as part of Lake Michigan Car Ferry Co. sale to Interlake Holding Co". Manitowoc Herald Times.
  27. ↑ MIBIZ STAFF (December 30, 2020). "S.S. Badger — iconic cross-lake car ferry in Ludington — sold to Ohio firm". MBIZ.
  28. ↑ "The Interlake Steamship Company Vessels". interlake-steamship.com. 2019. Retrieved 12 November 2022.
  29. ↑ "Great Lakes Fleet Page Vessel Feature -- James R. Barker". Boatnerd. Retrieved 2016-03-14.
  30. ↑ George Wharton. "Mesabi Miner". Boatnerd. Retrieved 2016-03-14.
  31. ↑ "The Lackawanna Steamship Co. - Proposed Merger". Commercial and Financial Chronicle. Vol. 96, no. 2496. 26 April 1913. p. 1232.
  32. ↑ "Big Lake Vessel Merger". The Marine Review. April 1913. p. 152.
  33. ↑ "Lackawanna Steamship Co. - Incorporated". Commercial and Financial Chronicle. Vol. 83, no. 2157. 27 October 1906. p. 1039.
  34. ↑ "Articles of Incorporation - Miscellaneous Companies". Annual Report of the Secretary of State [of Ohio] for the FY Ending Nov 15, 1904 (Report). 1906. p. 879.
  35. ↑ "Charters Issued in 1903". West Virginia - Corporation Report of Secretary of State Mar 4, 1903 - Mar 3, 1905 (Report). p. 677.
  36. ↑ "Abstracts of Corporations". Report of the Secretary of State of West Virginia for the FY Ending Sep 30, 1901 and Sep 30, 1902 (Report). 1903. p. 248.
  37. ↑ "Incorporated in Ohio". The Massillon Independent. Vol. 32, no. 6. 18 May 1893. p. 2.
  38. ↑ "Change of Name of Certain Corporations". Annual Report of the Secretary of State [of Ohio] for the Year Ending Nov 15, 1894 (Report). 1895. p. 486.
  39. ↑ "Miscellaneous Companies". Annual Report of the Secretary of State [of Ohio] for Year Ending Nov 15, 1892 (Report). 1893. p. 406.
  40. ↑ "Standard Steamship Company". West Virginia - Corporations Report of Secretary of State Mar 4, 1905 - Mar 1, 1907 (Report). 1907. p. 687.
  41. ↑ "News Around the Lakes - Cleveland". The Marine Record. Vol. 20, no. 3. 21 January 1897. p. 2.
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