The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1895-09-11
THE DOCTOR OF WALL STREET.

THE DOCTOR OF WALL STREET.
How Sick Corporations Call Upon
PierpOnt Morgan.
Goes at Everything in -Tongs
Style, Sits Upon Millionaires and States
men with Impunity, and Gives More to
Charity Than Any One Else.
New York, September, 6-By far the
most interesting figure in Wall street
| these days is that of J. Pierpont Morgan,
the man who is known as the financial
doctor and surgeon of the moneyed dis
| trict.
Jay Gould was a great power in his
time; every one feared him and few
respected him. Today Pierpont Morgan is
just as great power; all fear him but all
respect him. He could crush and wipe
out of existence many rich man and
great firm, but he is not a destructionist.
On the other hand, he is financial prop
upon which many concern leans While
trembling upon the verge of bankruptcy.
Whenever corporation gets sick the
great doctor, Morgan, is called in. Like
the able surgeon that he is, he cuts here
and there prudently, but with energy,
builds up another portion, saws off
great chunks of expense, infuses new
blood by making the stockholders come
up with handsome assessment and in
the end puts his charge in q healthfuI
bread-winning condition.
This is a unique position for any man
to occupy and for this reason the doings
of Mr.. Morgan are of considerable inter
est He is the one man whom the Van
derbilts fear and nothing could induce
them to antagonize him; for the doctor
of Wall street is pugnaoious, mighty fond
of his own way and an ugly opponent at
all times. While his individual wealth
is small compared with the 'moneyed
cally yields more power in the financial
affairs Of the country than any other
dozen men
He controls absolutely the tels upon
| tensfof millions of American securities
held by wealthy Englishmen and English
| corporations. These investors give him
absolute control of their American affairs
and he can buy or sell as he pleases. With
this great power always at his beck and
call he can make or break corporations
as he fancies. But it is always exercised
| in the affirmative sense never in the neg
alive. This is where Morgan and Gould
differ.
NOT A SPECULATION
III Mr.. Morgan'is popularity supposed to be
worth fifty millions It is doubtful if he
is worth more than half that sum. Yet
if he were a speculator in the gambling
sense of the word he could accumulate
almost untold wealth. But he is sturdily
and unalterably opposed to speculation.
The bubbles of the bulls and bears on the
floor of the exchange, fighting and shout
ing to get the best of an eighth f1uctua-
tion, he regards as q species OF petty
finance.
Finance with him is great science. To
have bankrupt railroad placed in his
he works and labors over the problem
with keen love of the task. To convert
financial chaos and ruin into smooth run
ming order and prosperity he regards as
his particular mission in life.
STERN AND GRUFF.
Personly Mr.. Morgan is not a pleasant
man for the stranger to meet. He is
gruff and emphatic in speech wasting no
words, and putting all of his tremendous
energy into the little that he does say.
To newspaper men he is the worst man
in New York to try to interview. There
is not one chance in hundred Of the in
terview being successful, and the chances
are ninety nine to one that he will leave
the office feeling that he has been jumped
and trampled upon and smashed generally
| by some ponderous machine. Newspaper
| men are not the only ones who have
passed through this experience. Men who
| have five and ten millions behind them
have been treated inithe same way by Mr:
Morgan; governors Pof states in search of
loans have been gruffiy sat upon; the
| financial agents of great European ma
tionsshave felt the fforce of this animated
lump Of dynamite.
PHYSICALLY AND MENTALLY
ALIKE
Mr.. Morgan never handles anybody or
anything with kid gloves. His physical
make. up is the counterpart of his mental
struoture-rough, vigorous, massive and
dominating. His clothes are loud in pat
tern, he wears heavy watch chain and
generally speaking looks more the sport
| than financier He is something over
six feet IN height, with a great breadth
| of shoulder, white hair, gray mustache
and heavy features.
Wall street has long recognized him as
it's king. OF late years his has been the
master mind which has directed all the
great congratulations in the financial
world He has just completed the work
of restoring to healthy activity the Rich
mond Terminal system with its tangled
qualifications representing $3.50, 600, 900
worth of property. Now he is engaged in
a similar work with the Erie road.
SOME OF HIS WORK.
When the Carrots became ensnared in
the woodworking genius of HenryS. Ives
and the Baltimore and Ohio road was
almost ruined Morgan was called in al
most at the last gasp of the dying corpor
alton and brought it to life again. 1t is
the same story with the Reading system.
When William H. Vanderbilt needed $780,
DOC, 900 in cash to perfect the New York
Central road, a dozen years ago, Morgan
took charge of the matter, and through
his English connections secured the
amount from abroad. When the West
Shore road go into trouble, Morgan took
I 4.-1 <~~1A low