New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-14
SKETCH OF HIS CAREER.

Edwin Dennison Morgan was boIn in the town oil
Washington, Berkshire County, Mass, on February
8, 1911. The family were plain New-England
farmers. In 1922 his father, Jasper Morgan, re.
mo, ed with his family TO Windsor. Conn. In the
early years of his life young Edwin had the usual
| boys farm work to do during the summer. and In
| the winter he attended the village school. At
the age of seventeen he began work as n clerk for
Nathan Morxan his uncle who was wholesale
grocer in Hartford. HIS compensation was agreed
upon at $50 for the first year, $50 for the second
and 300 for the third The young man soon won
the confidence of his EMPLOYER by his excellent
habits, energy and ability. Before the expiration
of his third year of service he made his first
visit to New-York, and in order to combine
business with pleasure he was directed
to make sundry purchases of tea, sugar aud
other articles, and fair amount of corn. On his
return he showed his uncle samples of the corn he
had bought and mentioned that, as it was selling
pretty low he had pl + 'hased three cargoes! In
those days In Hartford that was considered an
enormous investment, and the uncle, in despair, de-
cared that he was ruined. Every we'll ;" said the
clerk, after listening TO his employers lamenta-
tons. "You needn't father the transaction If you
don't want to, for / have already sold two car
goes of 1t at handsome profit" The uncle
changed his tone at once, and the next morning
young Edwin Mas called into the countingroom
and informed that young man who could success
fully conduct such an operation ought not to occupy
subordinate position, and that thereafter he should
have an interest in the business as partner The
energy and ability of the clerk were redoubled In
the partner and proprietor, and from that time sue
cess marked nearly all of Mr. Morgan's operations.
The duties OF the store did not occupy all OF his
time and Mr.. Morgan endeavored 10 make up for
his lack OF school training by employing his leisure
t,,d, nd in mil
with the best literary and social people of the city.
When only twenty-onc years of age he had his first
tas;e of public life in his election to the City Coun-
cll of Hartford, at 4 time when it was composed of
eadngicitlzens Besres this, he occupied no polit-
lcal Office until fifteen years later.
HOW MS BUSINESS GREW AND PRosPERED.
The Young merchants ambition could not be sat
sfied in Hartford, and in 1896 he removed to New
York a nd established himself in the grocery jobbna
trade with a capital Of $1,000, being associated
for n time with Morris Earle aud A. ID. Pomeroy.
His arting business on Frontst. was the beginning
of a new era in the methods of the jobbers and I'M
porters of that vicinity. The old-fashioned con-
seryatIve way received shock from the bold and
aggressive policy of the newcomer. Many times,
after the staid old merchants OF that
day as tho result OF long consultations
had decided upon a basis which fresh cargo
of 500 barrels of sugar should be parcelled out
among them they would find when they went for it
that the entire lot had been bought by their young
rival and that their dealings would have to be
made with him. This was an innovation in busi-
ness methods which he adhered 10, and IL yielded
him handsome gains His business thrived, his
house grew to larger dimen sions, and on
January l., 1843 being then alone IN business,
he associated with him the prior existing hrm OK
Morgan & Avery composed OF his cousin, George ID.
Morgan and Frederick Avery. the style OF tho firm
becoming +. ID. Morgan & Co. Mr.. Avery retired
after one year. and John i. Terry, who had Deen in
the employ or Mr.. Morgan for two years,was takoh
into the firm Soon Humphreys was also one oil MS
clerks from 1912 TO 1915, when he went 70 o''
Iou,s and embarked in business. After he had been
there nine wears the firm invited him oacH 10 tne
connting-house az partner instead Oh empioye.
Through MI Humphreys's acquaintance with MIS-
sorr; finances it came about that the firm entered
80, ,be negotiation of Missouri securities besides
confirming the importatons of sugar, tea and
coffee From 1855 to 1860 they negotiated about
three -fourtbs of the bonds issued by the
State. besides large proportion Of those
of the city of st. Louis putting out In
all over $3OOOO,000 of these secunhes
Ia 1851 George ID. Morgan retired nom
the firm and it has since continued with the taroe
partners who have been so long associated L. "
Morgan, John t. Terry and Solon Humphreye In
view of the general impression shat ex-u0'eSn*