The Spanish Fork press. [volume] (Spanish Fork, Utah) 1902-current, 1907-02-21
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New York.-What that congeries Of
Rancial interest which Is usually
oxen of as wall street" has been
pkIng forward to anXiously and with
Iuch speculation for several years
Is actually come to pass in the
House OF Morgan" The "Old Man."
81 ]. Pierpont Morgan is generally
Rlled in "the street" has to all in
snts and purposes gone into retire
ent, and in his place in the most
)mous banking house in America
ere reigns in his stead j. p. Morgan,
!, or Jack" as he is more frequent.
called and spoken of in the same
strict No one can cry. The king
dead! Long live the king!" for the
BAD Of the house is very much alive.
ply he has handed over the. practical
dminlstration of his banking con-
frns to his son, while In his magnifi-
PM. new library on East Thirty sixth
teet he is spending the evening of
days in the pleasufes of the collec-
amid his collections.
Like all of the things the elder Nor
ln does, this change in his banking
pnse was accomplished with little
Furnishing of trumpets. So quiet
pd gradual has been the process that
ptil the last few weeks but little at
fntion has been paid to the impor-
Pit change which has for several
fars been going on in the house of
4organ. John Pierpont Morgan, the
PSI hnancier of the country, and per-
efpS OF the world, has practically
7prned the reins of power over to his
Pm Jack" OF late Morgan ST., has
pt been in any too good health, and
Pf more than month has not been
the financial district at all. Every
Rme the stock market tumbles dis
uieung reports are circulated from
ne end of Wall street to the other
Pal the old man" is seriously ill,
Iaa IN spite of frequent denials from
aer members of the firm, including
Pack' the reports persist and come
the surface at every favorable OPP
|ortunity.
|eeks Leisure in Old Ace.
BUT there seems to be nothing i'm.
Pedlately alarming in Mr.. Morgan's
oauition. He is merely an old man,
'Iuu Is retiring from the multifarious
|uues OF his position as Americas
'iea'est iinancier. AS he has with
'rawn from financial worries he has
eVoted more and more attention to
~ and charity.
Inc more time J. P. Morgan spends
Moas MS art treasures and the fewer
~ business cares, the more these
ares and responsibilities fall upon
aUA Morgan. In fact, the affairs of
ae great house of Morgan are now in
nc nahds OF three men, j. p. Morgan,
~ george w. Perkins and Charles
'ee,e' Mr.. Steele is the legal man,
mat the heavy financial work,
, :, the joy OF THE Old Mans"
~ Is IN the hands of Jack Morgan
" PERKINS. Not that these are the
NY members Of the firm, but they
= 'he active ones. The stock ex-
4anse FIRM of which John w. Gates
a. member has frequently been
."eu The House of the Twelve
a'hers The Morgan firm has II
a''ners' but the members other than
, a mentioned are little more than
cad clerks.
T. Morgan, Jr., is by no means
! inexperienced boy. He is exactly
years old and his training in the
y, a'c C'cies of banking has been long
-, ~ thorough. Whether he will prove
=, sehius in the world of business
,o ~. MS father has been remains to be
,sa, but II genius consists in an ex.
NV. ',e devotion to hard work he may
.ther. WI" mo '''iS'' ''''
"Sracteristics Of "Jack."
ne len. Is a big man physically, six feet
row e'snt and Weighing 200 pounds.
"'s collage days he has bsen an