History - Timeline: 1900-1949

General, Company History Year Vessel, Maritime History Robert Dollar Dollar Steamship Company, also known as Dollar Line, is formally incorporated on August 15. 1900 Click image for more information about our logos. Captain Dollar sails to the Far East as a passenger aboard Pacific Mail’s elegant steamer China (a sister ship of the Colorado and Great Republic) to investigate foreign markets for his lumber. After establishing demand for his lumber, he begins acquiring ships to transport it to Asia. 1902 Pacific Mail launches two steel-hulled steamers, the Korea and the Siberia, for use in its trans-Pacific service. With the addition of the Manchuria and the Mongolia in 1904, (renamed thePresidents Johnson and Fillmore, respectively, in 1930) the company had the largest, fastest passenger-freight ships in the Pacific. Construction begins on the Panama Canal   Construction of the Panama Canal. Click image for larger version. 1904 The Korea Click image for larger version. Captain Dollar makes a deal with China’s only iron mining and production company to import pig iron into the U.S., a contract that withstands the Chinese Revolution of 1912. 1909 1911 Dollar ships bring the first cargo of Philippine mahogany to the West Coast. The first diesel-driven ships are built. To prevent monopolies in the transportation of goods from coast to coast in the U.S. from forming, the Panama Canal Act forbids the use of the canal to any shipping company owned by a railroad. Because Pacific Mail is controlled by the Southern Pacific Railroad, the company will not be able to use the Panama Canal. 1912 Titanic sinks on August 24. The subsequent campaign for passenger safety results in the Safety of Life at Sea Convention. World War I begins on August 4, and demand for vessels far exceeds supply. 1914 The Dollar name is now an institution in Asia’s financial capitals. Captain Dollar’s word alone is enough “collateral” to begin the construction of ships in China costing $30 million. Panama Canal opens on August 15.   The Panama Canal in 1914. Click image for larger version. Pacific Mail offers direct service to Manila. La Follette Seaman’s Act results in higher operating costs for shipping companies whose vessels are registered in the U.S. Pacific Mail is hit hard. 1915 Pacific Mail faces rising costs and is restricted from using the Panama Canal. Its future is in question. The Southern Pacific Railroad, Pacific Mail’s parent company, decides to cease all shipping operations and begins to sell off Pacific Mail’s fleet. The company’s plight is the subject of front-page news in the U.S. for weeks. Dollar Line reports record profits after Captain Dollar sells vessels at inflated prices during worldwide vessel shortage.   World War I infantry in France. Click image for larger version. Grace Line takes control of Pacific Mail after acquiring most of the company’s fleet. As a subsidiary of Grace Line, Pacific Mail begins an expansion program. 1916 Shipping Act of 1916 begins regulation of ocean transportation and creates the Shipping Board. Pacific Mail extends its Manila service to include Calcutta and Colombo. 1917 Shipping Board establishes Emergency Fleet Corporation and requisitions all but two of Pacific Mail’s vessels for war service. World War I ends on November 11. 1918 Captain Dollar invests heavily in real estate in China, including controlling interest in the China Import and Export Company and terminal facilities on the Shanghai waterfront. One of Dollar Line’s offices in Asia Click on image to see a larger version. Pacific Mail attains its largest size, counting more than 46 steamers in its extensive fleet. But the company lacks the strong, decisive management of earlier decades. 1920 Captain Dollar instructs his sons to purchase stock in Dollar Line’s competitors in order to gain controlling interest. Continue>>