The Black Hills union. [volume] (Rapid City, Pennington County, Dakota [S.D.]) 1889-1904, 1902-11-07
PROFITS
ARE s42,O0O,OO0
This Sum Represents What He
Has Cleared So Far
This Year.
STEEL WAS A GOOD THING
And the Prince OF Promoters Has a Few
Deals Yet to Close Before Year
Ends to Help Make a u
Showing.

NsW IOTh, oCC. Sl.--1ne year 1jUd
will be a banner ear for J. Pierpont
Morgan. 1t will be one that the great
financier will remember with joy all
Ibis life, for up to today the firm of J..
lP. Morgan & Co. has cleared $42, 1870, 600
in profits from the great combination
that he has engineered. This is outside
lof the interest from investments. the
Morgan is a director, trustee or officer
Nm companies whose combined capital
,,~ization amounts to 81, 1902, $50, 527.
His greatest profit was made in the
promotion Of the United States Steel
corporation. He headed a syndicate
that put up $25, 900, 900 to underwrite the
,stocks OF h concern. This SIS, 000, 900
was the first installment Of $500, 900, 900,
but the remainder was never called for.
THE members OF the syndicate have re-
,ceived interest and profit on the full
5000, 900, 900, which with the next pay
lment, to be made about November ID,
will amout to $50, 500, 900, Or about 200
per cent on the actual investment.
Mr.. Morgan, 1t is understood, gets
10 per cent Of this sum, which. with
the stock he received and the $40. 100000
cash, makes his profits from the steel
corporation ABOUT $2U,5 4O, UUU. #s u
Made $6,0o0,o00 Ia L. a N.
! Ills next largest profits were made
in the L. & N. deal, and amounted to.
$4,000, 900. He bought 100. 900 shares Of
l.. & N. stock at $130 per share, and
sold It to the Atlantic coast line for.
$3.50, getting a profit Of 100000 He
also received 81, 00o,0 900 par value OF the
new bonds. which are valued at i$147.70
thus making another $1.4470, 700 profit.
For the full BOG. 900 shares turned over
to the underwriters at $3.50 a share, the
value Of which was $45. 900, 1000, there
was received $40. 000,0 900 in cash, $685.
100000 in 4 per cent bonds and s5,OOO,0o 0
in Atlantic Coast Line stock. Figuring
he bonds at par and the stock at
$147.70 a share, 1t is clear that Mr.. Nor
gan's profit out OF the deal approxi-
mated 5000, 900, and probably more.
In h purchase OF the Chicago. In
dianapolis and Louisville Mr.. Morgan's
genius was shown to better advantage
than in any other OF his deals. For
this reason: He did not put UP a cent,
yet made a profit Of $S5O,00O, which,,
according to Wall street, is a great
flnanciering feat.
/, Mr.. Morgan cleared In the Northern
Securities combination $4,50O,000, and
nowhere has he earned a profit more le-
ultimately. By his promptness in COM
lA8 " tilC TeSCu6 O1@IAe uTdlClal WOClU
at the time Of the Northern Pacific
panic he saved Wall street from ruin.
Forty leading commission houses we're
ready to close their doors and there was
hardly an operator on The street that
was not ruined but for MI. Morgan's
action.
Realty Merger q Good Thing.
In the steamship combination Mn
Morgan made s2,5o0, 600 and In the Unit
ed States Realty merger $4,000, 900. Els
latest profits are to come from the great
combination Of harvesting and farm
manufacturers. The amount received
for financing this merger was sos, 600, coo
and Mr.. Morgan received outright for
engineering the combination a fee OF
1900, 900. The remaining SO, 500, 900 was
made by the purchase of the Milwau-
kee Harvesting comrahy's plant. This
was bought for $780, 900, and was put
into the conbtnatio nfor $4,000, 900.
Thus Mr.. Morgan has received $42,-
10000, and the year Is not yet over. It
is known that there are several great
combinations to be launched before the
year Is ended, IL the condition OF the
money market warrants 1t. One of these
Is the great packing combine. Then
there Is the Gould Holding company,
the Forge Works merger, the probable
union Of the United States Leather
company and the Hide and Leather
company and several others. In one or
more of these. and probably in all OF
them, MI. Morgan will play a promin-