New-York tribune., 1910-12-10
PERKINS GUT OF
/. J. P. MORGAN & CO.
He and Edward +. Whitney With
draw, and VIII Be Succeeded
by w. H. Porter and
T.W. Lament.
PERKINS, FUTURE ACTIVITIES
To Devote Life TO Corporations
and Work of Public Nature
Seeking to Solve Problems
Of Capital and Labor.

Important changes IN the firm Of J. P.
Morgan & Co were announced yester-
day afternoon Edward 2 Whitney and
George ". Perkins are TO retire on
January 1. 1911. and William Y. Porter.
president of the Chemical National
Bank, and Thomas ". Lamont. vice
president OF the First National Bank.
partners in Drexel & Co. Philadelphia:
Morgan. GrenfeE & Co. London. and
Morgan. Harjes & Co.. Paris, the policy
of identical partnership in the four
houses having been adopted a year ago.
Mr. Whitney, II is announced by the
firm, withdraws as a partner because
he desires to retire from active business
A graduate Of Harvard in the 7Os. he
has been a member OF the Morgan firm
since January I. 1900. his especial branch
having been the direction OF the foreign
exchange business OF the house.
Mr.. Perkins. the statement issued BY
j. P. Morgan & Co says. "wfthd-aws
from the firm in order 70 devote himself
TO corporate work and matters OF pub
IL A4c1SAAC NAAANH require IIBEc LAIllc anu
attention than It would be possible for
him to give while remaining IN the firm
Mr.. Perkins supplemented this brief
announcement by explaining the nature
Of the subjects which hereafter viii pri-
marily engage his attention
TN January I will have been IN the
firm Of J. P Morgan & Co. ten years
thirty years. said Mr. Perkins It am
Withdrawing from the firm for the pur-
pose, as the firms announcement states.
of devoting more time TO corporation
work and work OF a public nature IN
which 7 am deeply interested
Hopes to Find Opportunities.
TN continuing my relations with the
industrial and other business organiza-
tons with which I am connected hope
TO find further opportunities for extend
ing the principles OF profr-sharing and
other benefit plans in which I have long
been interested and which experience
shows offer a practical solution OF some
of the difficulties existing between capi-
tai and labor.
at Columbia University two years
ago and at Harvard University last
spring spoke Of the importance OF sOIv-
ing the new problems at present facing
the country. and which have followed the
organization Of the great cooperative
combinations of capital. and il is my
hope that the experience I have had may
enable ne 10 contribute something to-
ward the adjustment OF these matters,
which seem 70 me to be OF the largest
consequence 10 the country
Mr. Morgan has for several years been
gradually Iessening his personal atten-
ton 70 the details OF the management OF
his business, with its enormous diversity
Of interests Industrial railroad and
banking. although his grasp upon az
fairs has continued as effective as ever.
as was shown IN 1907, when. past his
SEVENTEEN year. he was the acknowl-
edged leader OF the financial forces
massed to meet the panic conditions
Since then the interests Of the Morgan
house have steadily extended, principally
in the banking and Industrial fields
Mr. Morgan IS still strong and Wig
orous. physically as well as mentally
But he Is now nearing seventy-four,
having been born on April IL. 1851. and
the invitation by him % MessTs- Porter
and Lamont TO enter the firm IS taken
by Wall Street as q step IN the direction
OF setting his house IN order" ulads
all the more advisable by the withdrawal
OF Mr. Perkins, who has borne large
share of the responsibilities or the bust-
ness. so that when the time for the
fun retirement OF Mr. Morgan shall ar
rive there may remain body OF active
partners qualified in talent as dnanciers,
in experience and in comparative youth
TO uphold the prestige OF the firm and TO
continue 10 enlarge the sphere Of its in
fUenCe.