New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-25

THE WELL-KNOWN F1NANCIER WILL
SAIL TO-DAY.
COMBINING BUSINESS WITH PLEAsURE-sOME OF

COMBINING BUSINESS WITH PLEASURE-SOME OF
THE SECURITIES WHICH HE WILL PLACE.
For fifteen years J. Perpont Morgan has
been going to Europe at this season to remain
for three months. He will sail on the Teutonic
to-day for Liverpool and his trip is likely to
have far more important results than any
previous one.
While on the other side year ago he ar
ranged for the distribution OF something ike
$50 900 900 Of American securities. 1t is beheVed
that before his return, some time in June, from
his present trip, he will have placed full
800. 100000 OF American stocks and bonds III
Great Britain and in Continental Europe
Among the Issues which Mr.. Morgan VIII dls-
pose OF will be those OF the Erie Railroad. the
reorganization of which was recently completed,
and the Philadelphia and Reading and Northern
Pacific railroads. which are in course OF reor-
ganlzatlon. Mr.. Morgan has had the financierng
of these readjustment schemes. and the stocks
ard bonds which he will offer to foreign invest
ors will be those allotted to the syndcates formed
to underwrite the schemes and those delivered
to his firm J. p Morgan & Co.. for services In
connection with the schemes
MR. MORGAN's REPUTATION ABROAD.
1t Is thought tina. n addition. Mr. Morgan will
complete preparations for placing the new Sc
curities of ;he Baltimore and ohio Railroad. the
plan for the reorganiz alton Of which Will be Is
sued before the year iT over. Aside from the
issues Of these railroads. 1t is reported that Mt
Morgan ia to market Issues OF bonds by several
other companies which require funds for better
ments and for the extension Of operations.
The reputation Of Mr.. Morgan as a hnancier
Is as great in Europe It Is in America. He
!s the head OF the house Of J. S. Morgan e. Co,
in London. and OF Morgan Harjes e. Co. In
Paris and any securities put out under MS
auspices are readily taken by European capt.
tasts. Every millions worth OF stocks ana
bonds sold in Europe by Mr.. Morgan means so
much less danger Of n cali upon the gold reserve
in the United States Treasury for the payment
Of obligations due by America to Europe in the
course Of business transactions between the
two countries.
TIE securities which Mr.. Morgan places
abroad VIII serve to create exchange. Drafts
or as they are generally called sterling bills
can be drawn against the securities. and thus
will be obvated the necessity for forwarding
gold The gold reserve In the Treasury now
stands at .l2s 100000. 1t is supposed that grain
and cotton bills VIII bc abundant enough TO
meet the demands from remitters to the other
sldc unir Mr Morgan has concluded his hnan-
clal work I'm Europe. AS things look now. there
will be no need for another Government loan
this year. and perhaps not FOR years 10 come
Mr. Morgan Will. therefore. not negotiate for
foreign gold AGAINST a future need OF the Gov
ernment.
HEALTH AS WELL AS BUSINESS.
Mr. Morgan Will not devo'c all his time while
in Europe TO business He VIII b. at Aix-les-
B,irs FOR a considerable period. His health Is
god but he expects nevertheless 70 derive oene-
~ from an ocean voyage and from changes OF
scene The severe cold which confined him 70
his house FOR ten days the first or the month ieit
no consequence. which We're not entirely re-
moved ~ his subsequent trip 70 the South.
Mr.. M,rgan's yacht. the Corsair. VIII De III
commission 10y the time he again sets foot on
these shores He VIII divide his time during the
summer between his cruises on his yacnt ana Sc
journs at Ms summe, place AZ Highland fai.a,
near West Point, where he keeps his prize-wiH-
ming calllcs Mr. Morgan's fondncss Tor dogs
is one of his most distinguishing traits.
MI Morgan was asked yesterday afternoon at
his Office for hts views the financial situation,
but replied that he had nothing 10 say on the
subject at this time.