White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1910-08-14

Young j. +. a not Deen nome very
long when the panic of 1907 broke
loose. On that momentous October
day, when the bronze doors of the
Knickerbocker Trust company clos
ed with a elang that was heard all
around the nation, 1t was j. z. Nor
gan. Sr., who leaped to the rescue.
Those who thought he had retired
found that they were much mistaken.
He raised the standard of confidence
and optimism; around him rallied all
the financial clans, burying old diff
fences, forgetting fresh feuds. His
marble library up on Madison
Avenue al the sanctuary where
tired, broken, and atfrighted Finance
took refuge.
ut was in this crisis hat Wall
Street got its first glimpse of young
j. p. He represented his father in a
score of important conferences, and
conducted himself with such conspicu-
Gus good sense and discretion that
when the strain of those soul-trying
days had subsidized the elder Morgan
is reported to have said:
"Well, Jack showed the real stuff!
ut was like awarding a decoration
OF the highest order of financial
merit.
Every year since that panic
young Morgan has impressed him
self more and more. That his father
has the most complete confidence in
him is attested by the fact thai he
makes more frequent and longer
trips to Europe, than before, and
scarcely ever visits his old office.
| What business he does transact is
done at his library.
while most of the Morgan part
ners have specific tasks TO perform,
it is difficult to describe young j. Ps.
He has some part in every big Nor
gan trnsaction. No bond under
writing goes through without his CO.
opeation; no railroad reorganization
is touched without his personal in
vestigation; no foreign loan is made
save with his scrutiny. To see him
sauntering around the offices, you
would think that he was are free
and without a single buiness respon-
siblity. Get into a single deal with
him, however, and you would see
how swiftly he would galvanize into
business action, how merciless would
be his measure of affairs; and you
would then realize that the elder
Morgan's confidence in his son is well
and worthily placed.
Here, then, is a real son of a real
father. a rich mans son who has sue
ceeded in a big way. To his unusual
ability as a financier he brings a
clean, wholesome enthusiasm for
fine things. Sir. Caspar Purdon
Clarke, once said that young j. p.
had a better art sense than his father
He loves books, and not only collects
fine editions, but reads them-an
activity not shared by many million
aires. Instead of building a gor-
geous palace of marble, he is con-
tent to live in an old-fashioned
brownstone house at the corner OF
Madison Avenue and Thirty-Seventh
1t is typical of the affection
ate relation between the Morgan
and son that they should live
side by side.
Young Morgan is much more &C
cessible in business than his father
ever was, although he has the same
paucity and brevity of expression. He
has dismissed many big deals with a
Yes or a No" He is less brusk
his father, and is perhaps more
inclined to be conciliatory. He V
permits himself to be interviewed,
and you do not hear anecdotes about
him up and down the Street. One
reason for this is hat he is too busy
sticking to business"