At the beginning of the 20th century, the U.S. banking magnate J. P. Morgan began to acquire a number of shipping companies, including the White Star Line, the Leyland Line, and the Red Star Line, to build a transatlantic monopoly. He succeeded in signing both HAPAG and NDL to an alliance, but was unable to acquire the British Cunard Line, and the French Compagnie Générale Transatlantique (CGT). HAPAG and NDL gave Morgan the largest U.S. rail company, the Baltimore and Ohio Railroad, and so Morgan offered to divide the market. The Holland-America Line and the Red Star Line together divided a contract for the passengers of the four companies. Ruinous competition was prevented. In 1912, the Morgan Agreement was terminated.