Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-26
YOUNG JACK MORGAN.
Stories of the Son of the Noted
American Einancier

The announcement that ]. P. Morgan is
gong to retire from financial life and leave
the management of his immense interests
to his son, Jack Morgan is not in accord
ance with the common practice Of big fnan-
Gers" remarked Washington broker the
other day. They usually die in harness,
frequently after being displaced from their
leadership by younger and more vigorous
men. If the younger Morgan is to take
charge of the firms interests in New York,
1t will bring more prominently before the
American public a young man of whom
comparatively little has been heard by the
average newspaper reader, but who has
long been Identified with the Morgan inter-
ests abroad and who for almost a decade
past has been the head of the branch house
of ]. P: Morgan & Co. in London.
III also, as has been intimated, there is
to be concerted attack on the Morgan hold
ings to test the younger mans grip, 1t may
result In some pretty pyrotechnics in the
street. In fact, 1t Is said the attack has
already commenced against the Erie and
the Southern. and that the older hands in
New York are going to initiate young Nor
gan In good shape What success they will
have is problem. But the young man
probably knows more about stock control
now than he did few years ago.
The younger Morgan is no tyro at the
financial game. He is something Of a
young giant physically, almost broad as
his father, about six feet two in height,
and considerably better looking than his re-
spected sire, but that is no extravaganza
praise. He has had as one of the partners
in the business for a long time Clinton
Dawkins, now Sir Clinton, young Eng
lishman, who has practically grown up
with the Morgan financial interests. Jack
Morgan is thirty-eight and does not look
any older. He and Dawkins had the i'm
mediate management of the firms immense
interests in London, and came into direct
collision with the late Charles Yerkes not
long after the gigantic shipping combine
was carried through, placing j. p. Morgan
at the head Of the list of combination mag
mates.
'Yerkes was an unknown quantity in
London at the time. He had the faculty
of making all his own men intensely loyal
to him and of winning the complete conf
dence Of the big outsiders with whom he
did business. He wanted the control of the
underground railways of London. to reno
vate them and make them something like
what they ought to be in cleanliness mod
ern equipment and carrying capacity. The
Morgans had their eye on the railroads.
too, in a general sort Of a way; had their
eye on anything in fact that promised to
have a few million dollars concealed about
it. The United Electric railways was a sys-
tenn in the northwest that was an essential
link in the general development of the
underground electric scheme. Yerkes
wanted control of 1t, and went after 1t
quietly and in such fashion as not to arouse
the pigheadedness Of the British financier.
1.-THE Morgans wanted 1t also, and with
the prestige of the shipping merger behind
them-for this had thrown a cold chill into
United Electric with sledge hammers and
hob-nailed boots. Yerkes was content to
use a butterfly net. j. p had just gone
back to the United States and Jack Nor
gan and Dawkins were left to fight out the
traction deal. There was some sparring for
position, and then before any one realized
what had happened it was announced that
Yerkes, through the banking house OF
Spyer Brothers, had copied control Of
United Electric and everything was over
except the shouting
"Yerkes was sitting up in his big office,
overlooking the Thames embankment,
when one of the American newspapers sent
it's London man up to interview him and
find out as much as possible about the deal.
Yerkes told It briefly and unostentatiously,
SO much as he wanted printed. and then
dropped into some Of the inside history of
the tight that was much more interesting
than anything that got into print. He was
always particularly happy in his way Of
handling newspaper men. as he probably
was with men Of all sorts. and he could
say a good many things with the certainty
Of not being quoted. He wound up tho
account with a tolerant smile and the re-
mark. as though he had been forced to
sprank a couple of schoolboys against his
will: -ei-s@
".You see young Jack and Clinton think
they are a devil of pair Of financiers.
But as matter Of fact they amt.