The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-10-18

The hling Of these letters after they
are read involves a great deal of work.
which, with the copying of the an
swers, fills out the most elaborate prf-
vate postal system in the world. The
letters are first divided into foreign
and domestic; then they are subdivid-
ed, there being compartments for each
country and each state in the Union.
Then there is classification Of their
business relation-letters or inquiry,
letters Of instruction. letters pertain
ing TO specific subjects, etc
The whole system is perpIexing at
first glance, but the men in charge, az
a moments notice, can procure from
the recesses Of the enormous file room
any letter that ever has been written
to the Morgan firm on any subject.
1t has been figured out that at the
current price Of real estate In the
Wall street district, Mr.. Morgan's stors.
OF letters costs him in the space they
occupy a yearly rental of about SI5.-
coo. As real estate values increase and
the mail grows larger, IL is hard to
tell where this will stop. Several let
ter brokers from time to time have ap-
preached the firm Of Morgan &, Co.
with view to buying their letters. but
all offers have been declined. One mar
is currently reported to have made an
OFFER Of 100000 for the stock OF old
letters on hand-Outside or the active
business letters that must, Of course.
be kept-but he could not strike a
bargain.
Handicapped by $4,000, 900.
The power of the personal ]. P. Nor
gan never has been fully realized by
the public. To begin with, he is a liv-
Ing example Of the foolishness. of the
platltude that holds il a great handicap
10 be born rich. Morgan inherited his
banking concern and a little more than
SIO,OOO.OOO from his father, J. s. Morgan,
VINO In his early years was a farm
hand. The fact that J. p. Morgans
private fortune today is conservatfyelv
nNed at $3.50, 900 shows that he has
managed to succeed in life despite his
early handicap in having $4,000. 900
LETT to him. Russell Sage once told the
writer that the hardest part Of the bat
Tie for riches was to get the first 81, 0OO.-
900. Once you make your first 81 .OO0.-
O00." said he. 1T is an easy matter to
become rich If one is at all careful in
ms Investments Thus, according to
the Sage theory, MOrgan's great fortune
does not necessarily show any proof Of
marked ability on his part
Even as early as 1880 railroad enter
prises in the United States represent
ing a capitalization Of more than $500
100000 were largely under the control
Of Morgan, and since then his control
has grown in proportion. AS an in
stance, he has added to the enterprises
whose destinies he practically sways
the great steel trust, with its capital
of $1,000, 100000. All the outlets to the
sea from the northwest and west are
practically under the direction Of Nor
gan, who thus holds in the palm of his
hand this entire section Of country and
nv hef al ~ TO
the price Of coal No car. emperor or
king enjoys his power. Personally, he
lives life Of luxury His yacht. the
Corsair, is one Of the finest in the n.
Y Y c. feet, and is a veritabIe floating
palace His home is palatial. There
nave been many speculations made as
10 what disposition he will make Of his
wealth. but no indication OF the Morgan
VIII has ever reached the public ear.