New-York tribune., 1911-02-19
London. January ~

- ,,oney and complcateu udhsac''o"s
.i,,ed IN MS We take time TO consider
We Iav the facts and figures before
sccountants and experts, who so
,sh the whole and make a report to
Irnon that We come TO decision.
-, Morgan decides instantly. l have
.,s, heard Of an example.
Que vas asked 10 take charge Of
<.orciaI operation requiring the transfer
80 great property in foreign country.
~,,h drafts in the first instance on New
York and then from New York to Lon
sor. ali this at a time when exchange
,.s unsettled and the markets OF the
.,or,d were extremely sensitive. He had
=. ,olculate commissions and stamps on
A.. transfer and a twofold rate Of ex-
cbange. and then make up his mind
p nbst the price Of money was likely to
:. an the completion of the undertaking.
t,s looked at the papers, computed
,,ices exchange. middle profits. govern
.,.r, dues in his head there and then,
,orecast the state Of the market at
a,,e some weeks ahead. and within ten
minutes had accepted the proposal. Is
:, wonderful that he gets business away
from us in London, going as slowly as
We do
T knew Of 81 matter in New York: be-
pevs in connection with enormous trac-
ZION interests at time when they We're
rost confused. There. it is true, one of
,is mariners had been at work on the
n-oposal for some time. gone into the de-
tails and prepared a statement This
rartner asked his overlord one afternoon
=, the close Of business whether he would
so into it next morning. adding: 1T will
,ate some hours" Said Mr.. Morgan:
"No. I 90 to Washington tonight.
Get into my carriage, and we will talk 1t
over as drive home
BEFORE they had reached Madison ave-
rus Mr.. Morgan had mastered the ques-
INNS on which his firm had spent weeks,
and had given his answer. which was an
Acceptance.
They say he is hard. exacting. and ex-
pects from those about him results, not
excuses. Very likely lady who was
his vife's guest in Madison avenue said
TO him
"Nr. Morgan, you are kind and charm
ing 10 rs here in the house but l am told
Won are not always like that in your
Office and they are all afraid of you
He flushed, began an answer cut 1t
short. and finally said:
L am afraid YOU are right
But now let us see what there is under
this adamsntire surface.
There came 70 him one morning during
financial crisis merchant whom he
did. not know. or just knew. who said.
Nj Morgan. ! have no claim on YOU
hut shall he thankful if you will look
at This statement Of my affairs. Ny
business is a good one. am solvent, but
the banks as YOU know, have shut down
on their customers, and if cannot have
half million by tomorrow morning l
must 20 under. have come to ask you
for the half million"
We can all imagine what Mr.. Morgan's
first impulse must have been. But he
looked at the mans face, looked al his
rarer. only half sheet. checked him
self and said
Come tomorrow morning and you
shall have your answer"
When the man arrived next morning
Mr. Morgan. without a word Of greeting
touched a bell. and to the clerk VINO
. came in said:
Make out a cheque for half million
dollars to the order Of Mr.. u.
And as Nr 4. hegan 10 thank him, Mr..
Morgan, with a smile, held up his hand:
"No. II is a busy day. There's no time
for that Good morning
From what I have said before II may
be guessed that Mr.. Morgan's knowledge
not only of business in its broadest
aspects, but in all its particulars. IS
extraordinary. had heard business
men describe IT as extraordinary, and
one DAY ! said 10 him:
'Mr. Morgan. they tell me you know
every detail Of banking, and can do any
body's work in your Office better than
the man whose speciality it is
a. "oh. I don't know about better, but
what do know is that can sit down at
any clerks desk take up his work where
ne left it and go on with it,
Presently he added
Il don't like being at any mans
mercy"
! remembered what I had heard the
managing partner Of a firm of smart
laliors In Lcndon say:
! sat four years crosslegged on a
BOARD sewing coats and trousers. That
Is why am now managing partner. II
4c4d hot know how every stitch ought TO
&C put in ] could not check the men
Nork. They are all afraid of me be-
cause know. and they know l know.
T. Perhaps ! may as well explain that
sam not writing as do about Mr.. Nor
gan because We are friends. ! have
4 known him a good many years, but
i cannot claim more than an acquaintance
With him; / hope a friendly acqualht-
dhce. but one which leaves me quite free
70 say what | think ought 10 be said.
And one thing | wish 10 say is that
"r Morgan has done more than any
o'her American in any such position as
ht 10 relieve us from the reproach OF
caring for money and business and for
nothing else. II is not merely that his
'aine as collector is equal TO his fame
hnancier. 1t is that he is known to
oolect not from ostentation, but from
'esl love u art and Of books and OF MS
F., .q'ner treasures. And, Of course. an IN
"nisent love. He is not the man 10 dear
; much In what he does not understand.