New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-21
GEORGE G.. MAGOUN DEAD.
THE WELI-KNOWN BANKER SUCCUMBS To
BLOOD POISONING.

George c. Magoun. the well-known member OF
the banking firm OF Barring Magoun q Co.. at NO
Il Wall-st died last night at his home NO.
% West Fifty-fourth-st. The direct cause OF death
blood poisoning, which resulted from an
operation which was performed some weeks
ago to relieve an intestinal complaint Mr.
Magoun was born August %, 1884, in Cambridge
Mass He prepared for Harvard at the Cambridge
High School but later gave up the idea OF enter
ing college in favor Of a business career.
Mr.. Magoun began his business experience at the
age of eighteen years as clerk OF lawson NdIeh-
tine q Co.. varnish manufacturers. ana IN l''o ne
went into the Office of Kidd-r Peabody q CO..
bankers of Boston. In 1863 he came to newborn
to start a branch of the Boston banking hrih at
No 80 Wall-st on February p, 1881, he was
admitted TO membership In the Stock Exchange
On July l. 1856 the New-York firm of kidder,
Peabody 1: CO.. was formed with f. II. peabody
O. w Peabody. Frank G. Webster. Frank b. Pea
body and Charles T.. Peabody, Of the Boston con-
Germ, and George G. MagOun, George +. Crane ana
Herbert l.. Grggs as partners. the frms III po'n
New-York and Boston were backed by the capilal
OF Barring Brothers, OF London. probably the largest
banking house for merchants I'm the world. Inc
Earrings dealt largely in railroad securities also ana
for years were Identified with the development
OF the Atchson. Topeka and Santa Fe Railroad sys-
TEN. 1t WAS their boast that one ever lost money
through Investments recommended by them, and
this record unchallcnged until the collapse OF
Novemoer lsh. INVESTMENTS IN me Argentine -
public Of South America We're the cause OF li',
downfall OF tn" british mousse ne excessive nm
speculation in the Rio Platte country culninatei III
1890 and losses OF Barring Brothers was 50 great
that In November Of that year the liquidation
Of their affairs was undertaken by an EnSiisn syn
dcate headed by the Bank of England. IhlS acton
taken TO avert what was feared would De
panic that would PROSTATE the financial World DIT
the effect OF the cnblrra Ssment OF the great Lon
don house has yet ceased 10 be felt The failure
Of Barring Brothers lei t. a reorganization OF tHei
American competitions. The New-l0rk house OF
l. 1881 the present firm OF Barring. Magoun Co.
was formed. the partnership consisting or IhOnaS
Barring. George =. MaEOun. George +. crane, Her
bort l.. Griggs ana cecil Barring
Mr. MlgOuns prominence In the puhNc eve catel
from this r,1rgaulZttion Of the firm IN 1891 HIS
connection with tlo Atchison. Topeka and Santa
70 Railroad constituted his principal claim upon
public attent "a bank = and railroad manager.
Of Barring Brothors were oVcrshalC wed by the
cmln"ncc Of the English banking house The pres
reorganization Of the Atchison company. That ROAD
compelled to pass It's dividend IN January OF
that year and 1t was mruaced with a receiver
ship ard foreclosure. Iy the strenuous Efforts Of
pany was reor-aniz-d hV agreement ot me HOltHS
debt creditors AMI hordho lsrs without The inter
vcntnn OF u receiver. The cOllauS" OF barNS
Pr,fhrrs on tho heels Of the reOrg1ulZatOn threw
can bankers. and Mr.. Nl<)un the1 t'came prom
ircnt IN the nag mont ~ he company. lie WIS
made chairman o. the Board OF Directors Win
especial cnlrgc Il ine coWpanyS financial a!ar%'
ana be- held that position at the time OF hla
Wir Maeoun. in 1872 married Miss Adelaide Louisa
Tlsdale Of Taun on Ms I2'N ma! ,nr'f s,,,,,
Mr. Magoun was member OF the mon League
c'iuh CIV club OF which he treasurer; Tux
edo Lawyers Downtown and a number OF out OF
Ire fancra services will take place tomorrow
afternoon A. The house. Tho burial Sill be In Mount
Auburn Genet ~. Cambridge.