The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-17


st. Paul. May 7. 1901.
The Globe is Indebted to the Cen
fury Press Bureau of New York for the
following answer to a subscribers Ques-
ton:
Among the great flnanciers of the
world none has achieved greater dis
tinction or pre-emInence than J. Pier
pont Morgan whose remarkable success
in shaping the destinies of gigantic cor
porations or more than q quarter of
century has made his name a power
on two continents His connection as
the financial force in reorganizing and
consolidating railroad properties. in
floating important government and cor
porate securities, and. more recently in
plotting the great steel interests of
America into one of the largest corpora
lions in the world, indicates the immense
influence which he has welded
John Pierpont Morgan was born In
Hartford, Conn.,. April IT. 1887 He is
hneally descended from Captain Miles
Morgan, who was born In Bristol, Eng
land, in 1916, landed at Boston In April,
1886, and, joining Col William Pynchons
expedition to Springfield, Mass. (of
which place he became one of the found
ers), served against the Indians in King
Philips war In 1879 the citizens OF
Springfield erected In the public square
OF that city bronze statue to his men,
DRY. Captain Morgan was great great
grandson of Sir John Morgan, his line
including such other families of the
Welsh nobility as the Llewellyns and
Ivors, and also the celebrated Cadivor-
fawr, chieftain Of Dyfed, or Pembroke
shire who died In 1889 A. D.
Mr. MOrgan's father Iunius Gnennar
Morgan. the famous London banker, was
for some time a resident Of New York
CITY, and is well remembered for his gift
in 1886 to the Metropolitan Museum Of
Art of the valuable painting by Sir
Joshua Reynolds, which he acquired for
the purpose Of this donation. He was
born IN West Springfield (now Holyoke),
Mass. April A. 1913, and died at Monte
Carlo on April 8, 1890. In 1929 he began
his business career in the banking house
of Alfred Welles & Co., of Boston, where
he remained until he reached his major
ity. For eighteen months subsequently
to July, 1884, he was a member of the
New York banking firm of Morgan,
Ketchum & Co. During the next seven
teen years he was a dry goods merchant,
his first partnership being with the firm
of Howe. Mather & Co.. of Hartford,
Conn, which in 1850 became Mather. Nor
gan & Co. With James M Beebe, of
Boston, he formed, in 1851, the celebrated
firm of j. M Beebe, Morgan e. Co., one
of the largest dry goods establishments
in the United States He visited Europe
in 1853 and, as a result, became a part
ner, Oct. 1, 1854, in the well-known bank
ing house Of George Peabody & CO. Up
on the retirement Of Mr.. Peabody, In
1864, he became head Of the house, the
name changing to J. 8. Morgan & Co.
Under this style its fame and influence
-
war Mr. Morgan rendered important
financial services to the federal govern
ment, in conjunction with his son, J.
Pierpont Morgan. then in the banking
business In New York city Mr. Morgan
established, in 1866, in memory of his
mother, the Sarah Spencer Morgan fund
for the orphan asylum, Of Hartford,
Conn. He also contributed literally to
Trinity college. of the same city. In 1896
he married Juliet, daughter of the late
Rev. John Pierpont the versatile post
and abolitionist, a graduate of Yale and
Harvard divinity schoo', pastor in Boston,
New York and elsewhere, candidate Of
the Liberty party for governor of Mas
sachusetts and of the Free Soil party fer
congress, and Chaplain in the Civil war
at the age of seventy-six. He was de-
seconded from the family Of Pierpont,
dukes and earls of Kingston. the first
of the line in America being John Pier
pont, of RoXbury, Mass, son Of James
Pierpont, Of London, England.
]. Pferpont Morgan attended the Bos-
ton high school and completed his edu-
cation at the University Of Gottingen,
Germany. In 1857 he entered the New
York banking firm of Duncan, Sherman
Co In 1866 he became the agent and
attorney in the United States Of George
Peabody e. Co., of London, with which
famous banking house his father, the
late Junius s Morgan, had been con-
nected as partner since 1854. When the
latter became head of the London house
in 1864, under the style of J. s. Morgan e
Co.. Mr.. J. Pierpont Morgan became a
member of the closely allied New York
firm of Dabney Morgan & Co., which his
financial skill brought into great promi-
nence But the browning stroke, in the
alliance of capital and connections, was
contaminated In 1871, in the organization
of the New York firm of Drexel, Morgan
& CO. In intimate connection with this
firm were thus brought the firms of
DrexeI & Co., of Philadelphia; J. s.
Morgan & Co., Of London. and Drexel.
HarJes & Co.. of Paris with the lesser
connections of each Mr.. Anthony J.
Drexel soon retired from active business,
and his death left Mr.. Morgan nominal
as well as actual mead of the New York
house, which was recrganizede under its
death of his father, in 1880, also left him
Morgan & Co. In conjunction with his
father, during the Civil war, Mr.. Nor