The Providence news. (Providence [R.I.]) 1891-1906, 1898-01-15
r PIERPoNT MORGAN. the Amer

PIERPONT MOkGAN, tne AMIR
Il lean king of finance, has just
sailed for Europe for seven
weeks tour.
The recent big coal deal engineered
by this remarkable flnancier again
brings into unusual prominence the
banker who figured in the United States
bond deals and the railroad pool of re-
cent memory.
To view Mr.. Morgan as a man and
citizen one must first of all look upon
him as a charitable man and religious
citizen, for he Is both.
Here, then, is a pen picture OF the
citizen:
Passing along the aisles of st.
Georges Episcopal church, New YORK
city. with heavily chased silver salver
in hand at the regular collection hour
every Sunday morning. may be seen
stoutly built. stately looking gentleman
past the summer Of life, who might IL
he felt disposed include all the running
expenses of the church. together win
the salaries paid the rector and his as
sistants in his annual expenditures and
hardly realize the difference in his net
income. That he has not done so Is not
from lack of interest. for he is the larg-
est financial supporter of the church,
and anything that the Rev. DIR. Rains
ford may desire in advancing the well
fare of his charge will be forthcoming
while ]. Pierpont Morgan continues TO
be one OF that church's vestrymen.
But these relations indicate only one
cid 1al
man. MIR. Morgan is not only prac-
tical Christian. to the extent at least of
attending church regularly, assisting
personally In the administration OF its
corporate affairs and giving with nota-
bic llberality to the endowment and sup
port OF this religious community. but
he is generous and philanthropic in
other walks of life.
He Is also a high and liberal liver.
who enjoys unstintingly all the good
cheer he may chance TO derive from a
steam yacht to a good dinner out of the
enormous fortune he has made by the
exercise of his uncommon gifts of in
tellect. AS connoisseur in art he is
a collector Of peachblow vases and
other treasured trifles and has donated
some Of them TO art museums. He loves
fast horses and owns them. high class
dogs and breeds them at his own ia
NOUS Cragston kennels. adjoining his
country manor on the Hudson, near
West Point He is a member OF all the
leading clubs of the metropolis and in
business circles is regarded as the lead
ing financier in the United States.
1t is not said of Mr.. Morgan by those
who know him best that he has any
inordnate pride of ancestry, but 1t is
certain that he is notable example
of heredity. for his ancestors have been
men of distinction for generations. and
IL Family" deserves regard in demo-
cratic country, he may be considered to
have been born to eminence. His fa-
ther Junius y. Morgan was banker
of prominence, being the founder and
actual head of the firm of j. 5. Morgan
g. Co. of London. This father married
into the Pierpont family, and John
Pierpont. the poet, was the maternal
grandfather of J. Pierpont Morgan. The
unusual blending OF business traits and
habits with artistics and intellectual
tastes, the prominent characteristics oil
Mr.. Morgan, are therefore, traceable
directly to his ancestry.
His birthday was on April IL, 1887
Hartford the place.. and he was con-
sequently n very young man when In
1860 he made himself felt as power In
the financial world. The occasion was
struggle over the possession of the
Albany and Susquehanna railroad, and
the two magnates with whom he came
i'm direct conflict were Jay Gould and
James Fisk. Jr. Though then full
partner in the house Of Dabney, Nor
gan & Co. OF Exchange place, he was
hardly expected at %, fresh from his
university course at Guettingen, Ger
many, to demonstrate great fiscal abil.
ty.
Meeting the clustering threats of FISH
and Gould with calm defiance. he lee
the opposition against their scheme:
and overwhelmingly defeated them.
one result of this financial victor,
was the dissolution Of Dabney, Morgan
e. Co. and the formation Of the grea
banking firm of DreXel. Morgan ~ Co.
which by the comparatively recen
death OF the senior member. has beer
changed i'm name (only) TO j. Pierpon
Morgan & Co.
OF this firm Mr.. Morgan Is not onl,
the nominal but the active executive
head. His connection with the banking
house of J. 5. Morgan a Co. Of Londoi
is not so easily defined. but the genera
belief Is that his is the controlling in
tcrest In that firm. In Philadelphia th
house of Drcxcl q 60. still exists. an,
I'm IL he has n partnership interest. Hi
relations with Droxel. Harjes ct Gle. o
Paris are certainly Of the closest ma
turc. with these connections II vii
not occasion surprise when IL Is said @
him that he can command more roadl
money of HE own ana OF other peopi
for the fuftherancs q any great enter
Prise than can any ether America
fnhncier So veil established rs rhi
reputation that his name Is invariabl,