Titanic

The Titanic: A Test of the Efficiency of U.S. Capital Markets

The effectiveness of the stock markets involves the investigation of how much, how fast, and how accurately the available data is incorporated into security prices. Financial economists classify the efficiency of capital markets into different categories based on the meaning of available information on security prices. Empirical evidence from the study of the 1912 sinking Titanic ship and its effects to the International Mercantile Marine Company, its parent firm, is constructive in the perception of the efficiency of capital markets. The effectiveness of the U.S. stock markets is, therefore, analyzed through the study of the theories in the economics literature about the Titanic.

IMM and the Titanic

The sinking of the Titanic ship in 1912 had a great impact on the company constructed the ship, a representation of the whole economy. The tumbling of the liner may be regarded as a crashing of the stock of the company and its recovery has not been less dramatic than that of the rest of the market. The formal efforts of the IMM Company after the sinking of the Titanic brings an idea of a strong capital market of the United States as a legitimately debatable issue. In many ways, the existing culture of the U.S. acts as if financial analysts proved the state of the market several decades ago. Sensibly, a gulf has developed between the current economics literature and the persistent conception regarding market efficiency in the legal culture (Khanna, 1998).

Many eminent theorists perceive pricing influences not to be associated with rational expectations about asset values. Alternative models developed by scholars suggest that prices make significant departures from the asset values, which can be related to the Titanic. The IMM, companies involves the release of public information to be used by lawyers and investors as illustrated.

Before the acquisition, stock prices goes up, indicating an act of dishonesty. The early move however, is an indication of strong market efficiency (Goetzmann, 2016).

An efficient capital market is tested when a research on the investment in a market is carried out, and the results reveal that no single investor attains greater profitability or loss than other investors with the same amount of invested funds. An efficient market hypothesis requires equality in the sharing of profits due to the aspect of equal sharing of information. The incidence of the sinking of the Titanic reveals the efficiency of the state of the capital markets in America. Information from a journal on the untold story of the Titanic illustrates that the loss in the stock value was steady with the average loss to the company in charge of the Titanic vessel, the parent company of the Titanic (Goetzmann, 2016).

As illustrated, market participants are obliged to equal possession of information; thus, they can only achieve identical returns. According to the journal, the procedure in the calculation of the impact of the Titanic sinking on the market value is a test that apparently qualifies to ascertain the competence of capital markets of the United States of America.

Conclusion

An efficient capital market is composed of investors who are of equal mutual relation. No investor is entitled to beat the market. An efficient capital market is also defined by the availability and accuracy of information about the securities and their prices. The calamity that hit the Titanic ship in 1912 was a chance to determine the efficiency of the Capital markets of America during the century. Information obtained from the study is significant enough to be used in the current investment community.

References

1. Goetzmann, W. (2016). An Introduction to Investment Theory. Viking.som.yale.edu.

2. Retrieved 17 March 2016, from http://viking.som.yale.edu/will/finman540/classnotes/class8.html

3. Khanna, A. (1998). The “Titanic”: The Untold Economic Story (5th ed., pp. 16-17). CFA

4. Institute. Retrieved from http://www.jstor.org/stable/4480105

Thomas Andrews

Before the Titanic was a marvel to the world, the majestic ocean liner was no more than

an idea in the minds of Harand and Wolff director Lord Pirrie and White Star Line president J. Bruce Ismay (Green 1). To be the greatest passenger ship in the world the Titanic had to be larger, faster, and more luxurious than any ship the company had built previously. These men could not build the ship they had envisioned by themselves. The designs and construction of each detail of the majestic ship were overseen by the company’s managing director and chief of

design, Thomas Andrews (Davenport-Hines 51).

Andrews is at the center of the fateful story of the RMS Titanic because he was the

greatest shipbuilder in the world and he could be seen in each aspect of the world’s greatest ship. He was the perfect man for building a ship that would capture the gaze of the entire world. Andrews, the nephew of Harland and Wolff chairman Lord Pirrie, had worked with the shipbuilding company since he was only sixteen years old (51). At age thirty-two, the innovative Andrews had become the head of the company’s blueprints and construction. He knew just how to improve on the design of the Titanic’s sister ship Olympia to offset the imposing size of the Titanic. Andrews’ equipped his masterpiece with triple-screw propulsion, eight electric cargo cranes, and sixteen watertight compartments in the lower levels. Because of Thomas Andrews, the Titanic was a marvel of early twentieth century engineering.

Andrews brilliance was not only theoretical. In his twenty-three years of experience in

the industry, he had become a master of every trade incorporated in shipbuilding. Although he held a nonmanual position, he was often out with the laborers overseeing the physical construction of his years of planning (Brewster 64). The large-framed Andrews was fearless to work in the rough shipyard in Belfast, Ireland (Davenport-Hines 51). Workers in the shipyard claimed that he would “intervene in fights between the workers” and on several occasions actually saved the life of his workers (55). Andrews also made sure to make the personal quarters

of the stewards and sailors who served on the Titanic much larger and more comfortable than the ships of that era (Brewster 64). His hands-on approach, his unshakable spirit, and his love for everyday people made him immensely popular among the construction crews and White Star Line; his dynamic personality created a synergy among each facet of the Titanic’s planning and construction. Thomas Andrews ensured it was the most well-constructed vessel in the history of

the world.

Andrew’s sense of responsibility for the quality of his work and the safety of his ship’s crew and passengers did not diminish when the Titanic was launched. He likely would not have missed her maiden voyage for any reason. Throughout the night of the sinking, he was scurrying around the ship to inspect the damage to the hull, attempting to keep passengers and crew calm in the midst of chaos, and urging women and children into lifeboats (Lord 25, 50, 53). Beneath his poise and control lied a deep sense of burden and responsibility for the failure of the ship and the great loss of life which ensued with it. As he contemplated the damage caused by the collision with the iceberg, passenger Mary Sloan observed that Andrews had been shaken to the core of his spirit by the events of the night (Brewster 171). In Walter Lord’s “A Night to Remember”, Andrews is last depicted silently and completely withdrawn into his own thoughts (Lord 75). After doing all he could, his masterpiece was still being overcome by the unforgiving nature of the world.

Thomas Andrews led a fascinating life. His greatest achievement immortalized his name in the world’s history; yet, at the moment of his death, he likely viewed it as a tragic failure. Andrews had poured over every rivet in the world famous ocean liner, and would have undoubtedly continued improving it if he had infinite time and money. Without his brilliance, tenacity, and leadership, the Titanic not have been romanticized for the last century. His entire life was spent preparing the way for the most majestic cruise liner to ever sail to be brought into

existence. Although his life culminated in great tragedy, his unremitting work will always be

admired as long as humanity remembers the story.

Joseph Laroche’s life is one of the most fascinating stories tied to the sinking of the RMS

Titanic. Laroche was a young, bright man whose accomplishments perhaps would have been remembered in history as a great contribution to the world. Instead, he is remembered for what he could have been and as the only black passenger on the ill-fated Titanic. According to Encyclopedia Titanica, Laroche was born in Haiti in 1886. Judith Gellar writes that Laroche belonged to a reasonably affluent family in Haiti, who sent him to Paris to study engineering at the age of fifteen (95). Soon after earning his engineering degree, Laroche married Juliette Lafargue whom he had met while travelling. Laroche was certainly very bright, but that in itself was not enough for success in early twentieth century France.

Laroche married Maadamoiselle Lafargue, the daughter of a French winemaker, fathered two children with her, and was an educated young man in Paris. However, because of his dark skin, he was unable to find work as an engineer in Paris and the Laroche family was dependent on financial support from Juliette’s father (95). According to Richard Davenport Hines, Laroche quickly became very tired of financial dependence, working manual labor which he surely considered beneath him, and criticism in Paris concerning the biracial appearance of his two daughters (129). Naturally, he wished to return to Haiti, where he could achieve the fullness of his potential and raise his children in a nation where people would not look down upon their

African descent.

Laroche’s family in Haiti purchased the family a first class ticket aboard the SS France for 1913 so that the family could move to Haiti (Gellar 97). Unfortunately, when Juliette became pregnant with their third child, they transferred their tickets to the RMS Titanic, likely so they would not have to worry about travelling with a newborn or in the advanced stages of pregnancy (97). Interestingly, the forty-one pounds the Laroches paid for their second-class tickets was

considerably above the average price, even for the Titanic’s maiden voyage (Encyclopedia

Titanica).

Although biracial marriages are a common occurrence today, it would be interesting to observe how the Laroche family would have been treated aboard the Titanic. Davenport-Hines writes that the family, “would not have received exemplary treatment on the Titanic” (129). One account states that the Laroche children were mistaken for Japanese children by another passenger (Gellar 96), but especially considering there were Japanese second class passengers on the Titanic, it is difficult to draw any definite conclusions. While it is nearly certain some form of discrimination took place, it seems the Laroche family did not find such inconveniences notable compared the great tragedy that ensued.

When the Titanic sank, Laroche was attentive to the events of the night and spoke English fluently. Therefore, he was able to quickly move his family to the deck and see them board lifeboat fourteen (Henry 182). His last words to his family were “I’ll see you in New York. I must take another raft. God be with you” (182). He would never again see his family. When his son was born, Mrs. Laroche named him “Joseph” in honor of his father. It is interesting to note that lifeboat fourteen was filled with mostly second class passengers and was not manned by an officer, but rather only by Seaman Joseph Scarrott, a member of the deck crew (Encyclopedia Titanica).

The Laroches must be noted in any in-depth discussion of the Titanic, because of the way they stood out in the crowd of passengers. Without their presence, there would not have be a single passenger of African descent on board. Joseph Laroche and his family are fascinating because they make the story more relatable for all of us. They were somewhat high class and educated people who sailed on the Titanic to find greater opportunity for themselves. Each of them confronted racial prejudice, and they fought an uphill battle ahead of their time in both their professional and social lives. Joseph Laroche will always be remembered in history for who he

was and what he could have made of his life. Although the rest of his story is unwritten, he is

immortalized victorious.

As the clock struck 7. 00 we could hear the faint sound of the ships horn, dinner had been announced. Anna, Gretchen and I got dressed in our eveningwear, touched up our make up and headed down to the dining room. I remember very clearly what I was wearing that night. A pale blue sleeveless dress made out of very heavy material with embroided roses around the hemline. I was also wearing a matching shawl and pale blue shoes. I loved this particular dress as William bought it for me the very same week he passed away. As we walked down the grand wooden staircase, the smell of dinner was divine.

We were escorted to a table next to a window where already a couple were seated. I looked out on the horizon and saw nothing but the great Atlantic Ocean. The dining room was magnificent. The crisp cream tablecloth draped over the wooden tables matched the napkins folded into swans, which matched the curtain ties. The string quartet played lively music in the corner of the room. All the waiters looked extremely smart with gelled back hair and matching tuxedos. The chandeliers overhead caught the sunlight and reflected all the colors of the rainbow and everybody and everything looked so beautiful.

The couple opposite were obviously on their honeymoon. Everybody on board, on course recognized the young brides, we had watched them laughing and promenading with their husbands. We offered our congratulations to the couple and they very happily accepted them. The bride asked why we were travelling on the Titanic so Gretchen explained how we had gone over to visit her husband, George in England as he was doing some business over there. It turned out that Mary’s brother was working on the same film as George so that was a talking point. We chatted merrily all the way through dinner.

Mary and James were a very lovely couple and Gretchen was certainly glad of some company of her own age to talk to. After a very enjoyable dinner Anna, Gretchen and I took a stroll around the decks watching the sunset. Little were we to know that was the last sunlight we would see whilst aboard the Titanic. Anna and Gretchen wanted to join in with the evening dance but I didn’t feel up to it so said I would meet them back at the cabin. When walking back along the promenade deck, the air was icy cold. This change in temperature had only occurred with in the last hour.

I had suddenly come down with a headache so when I returned to the cabin I changed into my nightwear. The doctor said it was best if I got an early night so I went to bed. I woke up at 11. 30pm and both Anna and Gretchen were in their bedrooms. My headache had disappeared and I wasn’t tired anymore after my nap so I decided to read my book. Just as I was slowly drifting away, I was sharply awakened by this terrible shudder. My fists were tightly holding on to my bedpost and the shaking lasted approximately 1 minute. It gave me the impression that a blow on the side had moved the entire vessel laterally to a considerable angle.

My instincts told me that we had hit an iceberg, there was no other explanation. Wearing only my nightwear and slippers, I went through the companionway, but to my surprise, found no one seriously considering the shock. Men in evening clothes stood about chatting and laughing, and when an officer hurried by I asked, “What is the trouble? ” he replied nervously “um, something wrong, something is wrong with the propeller, nothing serious, don’t worry madam”. He didn’t sound very convincing so I asked two other officers but was reassured that everything was fine.

A little while later, still feeling nervous, I went to the promenade deck and there saw a great mass of ice close to the starboard rail. When returning to my cabin again, I met with my day steward and it was he who finally informed me that the Titanic was in danger and I was to report to the boat deck with a lifebelt. I rushed back to my stateroom where Anna and Gretchen were getting dressed as both had been awakened by the impact of the jar. I told them we were in danger so we all got dressed, put on our fur coats and headed to the boat deck. Up on deck everything seemed quiet and orderly.

The thing that scared me most was that there was no sense of fear or panic. I knew in the bottom of my heart that the Titanic had received its death wound yet no one else had the slightest realization. There was an order issued that all women and children should congregate on the port side of the vessel. I supposed all the women were congregated on the port side as it would naturally be the highest side, therefore the safest as it would be last to go down. At this point there were only upper class people on the decks so obviously the steerage had been told not to come up yet.

They started to lower the lifeboats after a lapse of some minutes. It was a drop of fifty feet to the surface of the sea and apparently everybody considered that they were safer on the ‘unsinkable Titanic’ than in a small boat whose only propelling power was four oars. It was for that reason alone why the first boats were only half filled. I believe there were 20 life boats lowered away altogether. It was after the fifth or sixth boat was lowered and there was a definite slope to the ship that people understood that they were no longer safe and began to panic.

When the steerage passengers came up many of them had knifes and revolvers and were stabbing left and right in an endeavour to reach a boat. This brought a lot of fright and terror to the atmosphere. As we were waiting to get into a boat I saw across the other side a steerage passenger being shot as he tried to jump onto a boat. The crowd fell silent with shock and his body was tossed over board. That is an image I could never forget. Anna, Gretchen and I were helped aboard the seventh boat to be lowered, which turned out to be lifeboat 10. There was some problem lowering it so we sat there for a while.

We then saw Mary and James, the couple we had eaten dinner with only hours ago when everything seemed fine. We summoned Mary to join us in the boat. She refused in a very determined manner to leave her husband, although she was twice entreated to get into the boat. James declined with great force to get in the boat while there were still women on the decks. Owing to the angle of the sinking ship, another boat was being lowered almost directly above us. If it had not been for our yells and shrieks, both boats would have fallen into the water, but our cries saved us from the catastrophe.

When we got out on the water I was so annoyed with the amount of crewmen on the boat. We realized that they only claimed they could row for the purpose of saving themselves, in the end my niece had to take an oar. When we were only a few metres away I could see for myself the severity of the collision as the bottom half and the front of the ship was completely covered by the Atlantic Ocean. In a boat alongside of ours, a sailor lighted a cigarette and flung the match carelessly among the women in our boat. We screamed in protest to which he replied, ‘Ah, we’re all going to die anyway, we might as well be cremated now as then’.

We were all so shocked by this attitude. When we were rowing away the front of the ship was being dragged under the water leaving the back deck well over 400 feet above the surface of the sea. At this point the ship was nearly vertical. I cannot imagine what it must have been like for those passengers left hanging at the top, seeing the world at right angles and watching objects like tables and chairs flying down the deck. From the upper rails I could see husbands and fathers waving and throwing kisses to their loved ones.

I started crying when I saw people jumping off from the top. It is terrible things to see when people choose to jump such a deadly drop, as they have no other option except drown to death. We were a mile away from the Titanic when there was great explosion. It had appeared to me as if the boilers had blown up and the Titanic had been lifted in amidships and broken in half. It was then that the ships lights cut out and we could no longer clearly see what happened. Only one of all the boats set adrift from our side had a lantern.

We had to follow that boat as did many other boats and if it wasn’t for that solitary lantern, possibly many of the other boats might have drifted away and gone down. The most terrible part of the whole experience was the awful crying after the ship went. Our boat was silent with shock, as it seemed to last for ages. The temperature that night could only have been a couple degrees over freezing so we all cuddled together for extra warmth. I felt so scared sat in that boat, sat in the middle of the ocean in the pitch black not knowing if I went to sleep if I would ever wake up again.

We sat there for hours not moving saying the occasionally sentence between us. It is strange how I felt we had really bonded as a group and become quite close even though we didn’t really talk. I think it is because even without telling each other we knew exactly how everybody else was feeling. As the sun was rising, the sight of the Carpathia in the distance brought such relieve to the group. As we drew closer I could hear moans of disappointed wives waiting for their husbands to arrive. When we were welcomed aboard too much cannot be said for the kindness shown by the Carpathia passengers.

They gave up their staterooms for us and let us borrow their clothes. In fact I left the ship wearing garments owned by a very kind middle-aged women, Catherine who was married and had 3 children. I am sad to say though, that although we never gave up hope waiting for Mary and James they never arrived and we never saw them again. I later found out that both went down with the ship. Six months have passed since that terrible night and it has deeply affected me. So many innocent lives were lost that night and for what, so we could make a good time crossing the Ocean.

Everybody put so much hope and belief in that wretched ship, as it was said to be unsinkable. What I don’t understand though is why they only put enough lifeboats on the ship to save less than half the amount of people. I don’t trust anything that is published in the media nowadays and I am certainly not going to be leaving my country again. The Titanic was renamed the Ship of Dreams by many of the papers, and many believed it was when first stepping on. It is that name that hurts the most as the truth is that the Titanic destroyed so many of those dreams.

Using the factual accounts of the sinking of the Titanic, compare and contrast how the directors of ‘Titanic’ and ‘A Night to Remember’ portray the events that occurred. On Monday April the 14th 1912, brought an event which was to change thousands of lives and change the course of history. The ‘unsinkable’ Titanic – the pride of the White Star fleet struck an iceberg and sank within hours causing a massive loss of life. This disaster has caught the imagination of many generations and has provided the source of many books and films both fact and fiction. The Titanic was on its maiden voyage to New York.

It was the largest and greatest ship of its age, it was said to be like a floating city that carried 332 first class passengers in absolute luxury, 276 second class passengers and approximately 708 Steerage class or lower class passengers that suffered most casualties over the hours Titanic sank. The most famous films of the events surrounding the sinking of the Titanic are ‘A Night to Remember’ by Roy Baker in 1958 which was based on the true story of Titanic, and most recently the 11 Academy award winning film ‘Titanic’ by James Cameron in 1997 which is one of the most successful films of recent times.

A Night to Remember’ and ‘Titanic’ approach the telling of the story in totally different ways, but have very similar themes running throughout. ‘A Night to Remember’ is based on the book also called ‘A night to Remember’ by Walter Lord. The film follows a chronological order of events with the central character of Lightholler the 2nd officer who survived the disaster. It focuses on him from when he boards the ship to when the ship is sinking.

He is portrayed as a calm well respected leader, this is showed even more so when he shows courage and intelligence through his actions in keeping control of events and helping save lives. He plays a huge role in bringing the film together as he is someone who the watcher can focus on. The film highlights some of the mistakes that contributed to the disaster. It spends a large proportion of the time focusing on the radio room and how the operators where spending more time sending passengers personal business messages than listening to vital warnings from other ships of the danger of floating icebergs in the area.

Throughout ‘A Night to Remember’ the development of characters is very limited and many of them are focused on to show general scenes of passengers and crew and how they react to the events in different ways. In the opening scenes of ‘A Night to Remember’ Baker, combines real footage of the launching of the titanic with acted scenes, he accomplishes this as he was so committed to telling the true story. However Cameron uses fake footage of the people waving goodbye to their loved ones, he fools us into believing it is real footage by changing the color contrast to a yellow to make it look old and historic.

There are many stereotypes in the film, particularly the portrayal of the wealthy classes in first class, who appear to spend most of the film dressed in evening dress enjoying the splendor and luxury of the state rooms, and not realizing the severity of the situation when the ship strikes the iceberg. Many of them show little respect for the crew when asked to move to the lifeboats, and many resent having to wear life jackets. As the situation develops, and it becomes more apparent that the ships is really sinking then the mood changes and many develop an attitude of self protection.

This is particularly shown by the Chairman of the White Star Line – Mr. Ismay who sneaks onto a lifeboat before many of the women and children have had a chance to leave the ship. This is noticed by Lightholler whose look of disgust shows his feelings towards his boss. Women in ‘A Night to Remember’ are portrayed as thick and stupid as they make comments such as ‘You won’t get back on board tomorrow without a pass’ when the ship is about to sink to the bottom of the Atlantic.

Throughout the film, a lot is shown of the class difference between the first class passengers, living in luxury, and the steerage class passengers who are accommodated in very basic accommodation below the waterline, with many sharing overcrowded rooms. Many of the gangways are locked during the sinking to prevent them getting on deck to have a chance of survival, as the crew know that the ship does not have enough lifeboats for everyone, and priority is being given to the first class passengers. Most of these steerage class passengers appear to be foreign immigrants to the USA, and thus of less value than the wealthy First Class passengers.

Throughout the film the crew are shown to be professional and polite throughout, especially Lightholler, as the developing scenes of the film increase and when there is a rising tide of panic amongst the passengers and crew, Lightholler leadership qualities still stand out, as he is able to think in a calm and logical way, and overcoming many difficulties. However in ‘titanic’ Cameron portrays him as a crew member who can only keep order by using weapons and treats ‘Order, order or I will shoot you all like dogs. ‘

The Captain of the Titanic, Captain Smith is portrayed in both films as a very stereotypical captain, with his white beard, and powerful presence, at no time during either film is it suggested that he is responsible for the disaster. In ‘Titanic’ at the beginning he is shown as a dream maker and when the ship is sinking he is portrayed as lost and not in control. However in ‘A night to Remember’ he is shown to be in control even when the ship is sinking as he gives the orders and in ‘Titanic’ they are suggested to him by the crew.

A Night to Remember’ unlike ‘Titanic’, spends some time on the two other ships in the area – The California which is only ten miles away, and could have reached the sinking Titanic quickly enough to save many of the passengers, but instead with its Captain asleep and the incompetent crew ignoring the frantic distress flare from the sinking ship, and turning off its radios. The Carpathia on the other hand is some sixty miles away when it hears the calls for help, and immediately starts racing towards the scene.

The Captain is portrayed as efficient, and concerned in the way he prepares his ships to receive the casualties. The Titanic film makes no reference to the California, and The Carpathia only appears in the closing scenes of the film. The final scenes of ‘A Night to Remember’, when the ship finally begins to sink beneath the surface is dramatic but without the benefit of computer graphics and animation available to Cameron, baker cannot possibly compete in terms of the drama that Cameron achieves in his modern film.

In Cameron’s film the ship is shown as breaking in two, with the stern rising vertically in the water before plummeting to the bottom. This was what actually happened according to eye witness accounts, but it is not portrayed like this in Bakers film. The sinking scenes in Cameron’s film are some of the most dramatic and realistic in modern cinema. Cameron’s ‘Titanic’ makes a totally different approach to telling the story as it is based on fictional characters which are developed over a long period of time. It is basically a dramatic love story interwoven with the story of Titanic.

The story develops between Rose, a rich girl who is forced into engagement to a multimillionaire steel baron – Cal Hockley. She feels trapped inside her own world causing her to feel like death is the only way out. However she is saved by Jack, a 3rd class passenger who makes a living out of pencil drawings. They soon fall into forbidden love as Rose’s fianci??e and her mother try to separate them several times. It uses flash backs from current times to the events in April 1912 through the eyes of a survivor of the disaster.

The opening scenes of Titanic shows a salvage squad looking for a precious diamond that would be worth millions of pounds today. They finally find the safe which they believed it was kept in but they soon find out that the safe is empty apart from a drawing of a beautiful young girl wearing the diamond. This leads to a report on television which is seen by Rose who is now 104 years old as she recognises herself as the girl in the drawing. The salvage squad determined to find the diamond fly Rose out to the site where she recounts the events that lead to the sinking of Titanic.

Throughout Titanic Cameron uses many different methods to represent the different classes by showing the contrast by focusing on the higher class to the middle class then to the lower class. In the opening scene Cameron focuses on the higher classes when the ship is being loaded with all the expensive cars, paintings and possessions and luggage. They are all dressed very smartly and are well presented. He then shows the different contrast between classes when moves the camera to show all the 3rd class passengers waiting to board.

Many of them are in old ragged clothes with all there possessions in just one or two bags. He also shows how the lower classes are getting checked for fleas and lice before they board the ship. It is quite evident that many of the third class passengers are immigrants, heading for a new life in America. This class divide is repeatedly shown throughout the film, and it is more striking in Cameron’s film than Baker’s. After Jack talks Rose out of jumping overboard, Jack is invited to eat with Rose, her fianci??, and the rest of their party, this is supposed to be a reward for saving Rose’s life.

It is a very grand dinner, in the first class dining room, and Cal and the rest of his party try to humiliate Jack, because he comes from a poor background and has no money ‘Mr. Dawson, well its amazing you can almost pass as a gentlemen’. Jack however does not seem to be affected, and it is clear that Rose is attracted to Jack, and finds him far more interesting than her self-centered fianci??. Jack then leaves the dinner, shortly followed by Rose, and he takes her to ‘a real party’ in steerage. Here the third class passengers are having a fantastic party, with dancing, and singing.

Rose seems to be enjoying herself extremely as we also see her drinking pints of beer, which is a severe contrast to the expensive wine served from crystal classes, she has just had upstairs. It is clear that Rose is far more interested in Jack as a person, than Cal. This class divide is further shown when Rose and Jack, who by now are in love, are discovered by Cal and Cal’s personal assistant/bodyguard, in Cal’s state room. Jack has just done a pencil drawing of Rose lying down naked and wearing the expensive diamond that plays a large part of the film’s plot.

Jack and Rose run off, with Cal’s bodyguard running after them. They run from the luxury of the stateroom with its own private walkway deck, probably the most expensive accommodation on the ship, through different levels of accommodation, through steerage class, with its overcrowded accommodation. Cameron even takes them through the engine room, which is represented, almost as a hell, with sweaty stokers shoveling coal to feed the boilers that are driving the ship. There is noise, fire, steam, and oil which together creates an immense contrast to the wealth and luxury of the staterooms at the top of the ship.

Cameron’s film has spent over half the film developing the main characters of Jack, Rose, and Cal. It is over one hour and forty minutes before the ship strikes the iceberg. From this tragic moment, there are many similarities between the two films. Of course Cameron’s film, with its multimillion pound budget is far more effective, however the basic order of events remain the same, and it almost as though Cameron has made direct copies of some of the scenes from ‘A Night to Remember’. The scene when Mr.

Andrews, the ships designer, who is on board, relates to the Captain that the ship will unavoidably sink ‘that’s five compartments! She can stay afloat, with the first four compartments breached, but not five, not five, she will go down by the head and the water will spill over the tops of the baulk heads from one to the next’ This is what Mr. Andrews says in ‘Titanic’ and it is almost exactly identical to ‘A Night to remember’. There are many other examples of similarities from the point the ship strikes the iceberg.

We see how at first passengers are unaware of what has happened, and how some are told (in both films), that the shuddering that was heard was ‘a propeller blade’ being shed. We see in both films how the first class passengers are unwilling to follow the instructions of the crew to get into their life jackets. We see in both films how the third class passengers are locked down below decks, and the first class passengers are given priority in boarding the limited number of lifeboats. We see how there are examples of cowardice by men in both films, and how the chairman of the White Star Line, sneaks aboard a lifeboat before his turn.

We also see how Cal tries bribing the crew to allow him aboard the lifeboat, when this fails he even uses child. This scene is not shown in Bakers film because Cal Hockley is a fictional character; however it does show how heartless Cal is and how men may have behaved during the event. In both films, even during the rising disaster, there are elements of humour, but these are very different in both films. In Baker’s film we keep returning to a chef who is getting more and more drunk, as he drinks a whole bottle of whisky, not that amusing today, but forty years ago, it would have been.

There is also a scene when some bell boys are told off for smoking in a public room, which is quite incredible when you think about the events unfolding around them. There is also another scene that is similar in both films, when the panicking third class passengers break down a barrier, and are accused of damaging ‘White Star property! ‘ This is said when the whole ship is about to sink to the bottom of the Atlantic! Cameron however is slightly more subtle with his humour. This is shown in the scene where Jack has been handcuffed to a pipe, and the only way that he can escape is if Rose can chop through the chain with a fire axe.

As he is concerned that she might miss he asks her to practice on a cupboard, by hitting the cupboard, and then trying to hit the same spot for a second time, she misses by several feet, but as the situation is now frantic Jack urges her to chop through the chain. She manages it successfully, and they escape. Another example of humor is represented in the scene where the ship has sunk and jack says to Rose ‘I don’t know about you, but I intend to write a strongly worded letter to the White Star fleet about all this. Cameron uses this comment to lighten the mood of the audience after witnessing such tragedy. Both films follow the same basic factual accounts of the sinking, and portray them in a similar way: the separation of children and women from their fathers; lack of life boats; priority given to 1st class passengers over 3rd class passengers to board the life boats; acts of cowardice, and the fact that the life boats did not return to help those in need.

The main differences between the two representations are that ‘Titanic’ follows a forbidden love story, and a ‘Night to Remember’ focuses purely on the factual side of events. As ‘A Night to Remember’ is presented in a way that it frequently fools us into thinking that it’s a documentary, I believe this makes the story less interesting. In my opinion as a film ‘Titanic’ is overall more successful in capturing the attention of the audience due to advantages of modern day special effects and the added striking love story.