LARRINAGA STEAMSHIP CO. LTD.

The white flag bears three red hands shaking. The design recalls the partners tossing a coin after the Suez Canal opened to decide between retaining sail and investing in steam, the coin favouring steam. The black funnel has yellow and red bands, with narrow red bands towards the edges, recalling the company’s Spanish origins. Several charts and photographs of Niceto de Larrinaga and Telesfora Larrinaga support these proportions; other sources make the bands equal.