The Providence news. (Providence [R.I.]) 1891-1906, 1902-08-25

New York, Aug. 25.---When ] Pierpont
Morgan was a student at Heidelberg uni
versity ne developed such an extraordi-
nary aptitude for mathematics that he
was offered a professorship IN that
science at the time of his graduation.
His father wanted him to continue the
fortunes Of the great banking house. and
the cap and gown lost a shining light IL
Is told that short time after Morgan
had left college friend met his father
and asked how the boy was getting ON.
why, that boy will break the whole
world one Of these days." replied the
elder Morgan.
In the unpretentious corner office at
No. 2s Wall street. where the firm Of j.
p. Morgan q Co. sits In control Of the
finances Of many OF this country's indus
tries, the extravagant prediction OF the
elder Morgan b never thought Of. The
whole world already looks TO that office
for It's cue whenever any transaction
Involving millions-whether IL be war
or a coal strike, an amagamation OF
steamship and railroad lines or the finan-
eing OF bankrupt kingdom-is up for
discussion
TWELVE PARTNERS IN THE FIRM.
There are twelve partners In the firm.
the various great schemes which have
given to tho language a new word. Nor
ganixing." There y only one Morgan
on whose lhe Ensiist Investors AMI
preculators take out insurance policies
paying per cont premium.
The amount Of capital under cont, Fl
from the Office at Broad and Wall street
" perhaps greater than the total anvdnt
OF gold coin in the world II represents
such wealth and power as never before
was centralized in the hands OF one man.
Seven of the twelve partners In the
firm OF j. y. Morgan a Co are members
Of the board OF directors OF one or more
OF the great corporations and trusts
which mark this era os centralized cap
ital. The mere list Of these companies
In whose affairs no move can be made
without consultation at No. 2S Wall
street inspires the Difference due from
q dollar TO q million dollars.
But there are vast combinations OF
capital. unions OF powerful corporations
whose srairs are being handled by ]. Il.
Morgan a. Co. In whose directorate no
member OF the firm ever sits. They are
known as Morgan companies. The
members Of the firm OF Nor
gan & Co. are his son. j. Il. Nor
gan. Jr.. George G. Thomas. Edward #.
Whitney, James w. Paul Jr.. Edwart
II Robinson. Edward r. stotesbur 4,
hODtrt bhCou. BOWuolns WI
Pierson Hamilton. Charles Steele, Geo.
w. Perkins and J. Pierpont Morgan.
FIVE NOT IN MORGAN BOARD.
According TO the public records. no one
Of the first five named sits as director
In any corporation. Temple Bowdoin Is
named as director only In the Chicago,
Indianapolis and Louisville railroad and
the South Carolina and Georgia Railroad
company. bat George q. Bowdoin. whose
offico also Is at NO. y Wall street, has
an active hand In the direction Of a
dozen great corporations as a member OF
the boards Of directors.
william Pierson Hamilton. another
partner, appears In tho financial directo-
rfss only as director or trustee in three
companies National Tube the North
British and Mercantile Insurance com
pany OF London and Edinburgh. and the
North British and Mercantile Insurance
company Of New York
Fven q .orge w. Perkins 20 who-1 the
detail o. tho great coal strike was re-
ferred by Mr.. Morgan when Bishop Pot
ter broached the subject Of a settlement
or their recent trip across the Atlantic
together. n named as n director IN only
four companies.
But the remaining partners could spend
their entire time attending directors
meetings had they no more important
use for their business hours
Mc~ean a Co are interested directly or
Indirectly m q great many ~ the leading
concerns of the country. The total capt
taiizstion OF such properties is estimated
at fst<s. 500. 900
Besides this vast sum other great ac-
eumula tfnns look small. The gold coin
and gold certificates in the United States