sentences:  The Atlantic, Gulf & Pacific Steamship Corporation was bankrupted in August 1922 after little more than two years in operation, due to a rate war between seven different companies for the intercoastal trade.Atlantic, Gulf & Pacific was the first of the seven companies to go broke.At the time of the companys bankruptcy, it had paid only $195,000 of the $9,000,000 owed to the United States Shipping Board for the purchase of its six ships.