The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1905-09-30

e t .i,s,.ss y ,ss,szs.s a potent reminder
that his influence in
financial circles is still undiminished-
Since his failure to meet popular ex-
pectation at the time of the creation of
the United States steel corporation and
his subsequent doubtful effort to or
xanize the American merchant marine
he may have lost some of the unhealthy
and exaggerated prominence which his
daring financial achievements had
brought upon him, but much of his old
time power is still manifest.
Mr.. Morgan began his active business
career in 1853, then twenty-five years
of age. as a bank clerk in New York
city. For ten years he remained in
comparative obscurity, part of the
time as a salaried employee and the
remainder as a member of g. firm of
brokers doing business IN a small way.
In 1859 he attracted the attention of
the financial and railroad world by
taking charge Of the reorganization of
q railroad which had almost been
wrecked by a fight between its presi-
dent and the firm of Fisk & Gould and
putting it on it's feet. From that date
until 1903, period of thirty -four years,
his business existence was one of the
most brilliant in it's way that the
world has ever seen. His method was
something entirely new in financial cir
cles It was the practical initiative in
the. modern American idea of CONSOLE
dalton and combination.
Mr. Morgan's subsequent accepta-
ton of the efice of physician for sick
and disabled corporations occurred in
1885, when he carried through to a
successful termination the famous
West Shore deal. Since that time he
has taken a hand at more kinds of in
dustrial, financial and transportation
games than any other living man exc
cept possibly John d. Rockefeller. The
Standard Oil and the sugar trust are
about the only ones among the greater
combinations in whose pie he has not
had q finger. His two greatest efforts
at combination, the steel corporation
and the merchant marine, engineered
in 1901 and 1909. were set down
promptly as failures, but Mr.. Morgan
has never taken that view OF them. His
famous remark concerning "undigested
securities was not intended to be- epi-
grammatic merely. He believed then
and believes still that he was correct
in his opinion of the future of these
two industries, and many of the keen
est financial observers of the day pre-
dict that the ever increasing business
of the world will yet grow up to them,
thus proving that Morgan's prophetic
insight is as remarkable as his specu-
lstive audacity.
Unlike most of the great financiers
of his day, MIR. Morgan has neverebeen
among the heaviest stockholders In the
vast combinations which he has en-
gineered His interest in such con-
Germs seems to cease abruptly when
&the last merger is completed and he is
feady for something else in the Same
line. He has taken stock sometimes as
part payne it of his commissions, but
he prefers cash always. If he had not
adhered to this rule he would have been
bankrupt more than once on account
of the calculating stock market
All outside estimates of John Pier
pont MorGan's wealth are mere guess
work and wide of the mark Be
You'd the fact THAT he inherited
$4,000, 900 from his father and that
his opportunities of increasing this
comfortable nest egg have been great
er than have fallen to the lot of almost
any other man, all is surmise only. Thai
he is a notable multimi1lionaire ever
among the growing army of American
rich men is clear, but whether it is
$100,000.000 or only half that sum no
body who will is qualified to say. OF
one thing, however, there is no doubl
whatever-Mr. Morgan has made more
millions for others than he has fol-
himself
In person this prince of reorganizers
presents striking figure. He towers