The herald. [volume] (New Orleans, La.) 1905-1953, 1913-06-26
MORGAN STORIES.
The Great Banker, Blunt and
Gruff, Could Enjoy a Joke.
HIS KEEN SENSE OF JUSTICE.
il Was StrikinsIy illustrated by the
Way He Handled Two DefauIting
Employees and the Rebuke He Ad-
ninistered to a Wall Street Shark.

| employees and the Rebuke He Ad-
ninistered to a Wall Street Shark.
Most people who knew ]. 7. Morgan
knew him as a man blunt to the point
of gruffness, yet he had a keen sense
of humOr. This is recalled by the way
he appreciated so well the joke of a
young Irishman who served in his Of
flee as a sort of exalted porter that he
raised his salary.
| The joke was on one of the bankers
visitors, who, thinking to have some
fun with the young man, remarked to
him his was most difficult task, keep
Ing those whom Mr.. Morgan did not
wish to see away from him without
giving offense
That's So" said the Irishman, but
! don't mind earn $50 a week"
Duly impressed, the visitor remarked
to Mr. Morgan that he paid pretty
good salaries, mentioning the figure
given him by the doorman. Mr.. Nor
gan rang for him.
What do you mean," he demanded,
''by telling this gentleman that pay
you $50 week."
II never told him anything of the
sort, sir" the man replied. 81 told
him / earned $50 a week keeping
cranks out, and | think do"
WELL" said Morgan, lighting up,
I'VE won't discuss that now, but just
tell the boOkkeeper you are to have s.
more week. And have no more talk
with my inquisitive friend here on the
private affairs of the office"
Every banking house has little pecu-
| latiOns at one time or another. No
| public record exists to show that the
Morgan house suffered in this respect,
but that is because the banker handled
these cases in his own way. Two such
cases are recalled by a veteran in the
street. In one the culprit, a married
man, admitted that he was some $500
short when the head of the house
called him into his office. 1t had gone
in speculation, he said He admitted
that his salary was ample for his
needs.
Mr.. Morgan advised him to go home
and tell his wife about it and see him
in the morning. In the morning he
handed him the amount he was short
after the clerk had said he had told his
wife everything.
"Put that where you took the money
FROM" he ordered. 1T is a loan from
me. expect you to pay it back. None
Of the others know anything about It.
Let's see If you can't be man."
Later the clerk returned the money
to him, with stammering expression
Of thanks
"Humphw said the banker. at was
bit harder saving than losing it,
wasn't it? Well, now, take it home and
give it to your wife. guess she saved
more Of it than you did"
The other clerk, unmarried, became
involved through associating with too
lively group. Like the other, he was
advanced the amount of his shortage
and, like the other, repaid It. Not long
afterward Mr.. Morgan called him into
his Office and gave him three months
notice
But, Mr.. Morgan" be protested,
"I'm all right haven't taken a dollar
Of your money since you gave me an
other chance"
81 know It," said Morgan, "but it
won't be long before you will. You're
travelling with your old clique again."
There Is one banker, not Of the sec
ond class in Importance, who probably
never will forget his experience on the
"Black Monday" panic. The head Of
one of the largest commission houses
in the street" went to Morgan for aid.
"We are absolutely solvent" he said,
'but Mr.. Blank has called loan on us
for $1,OOdOOO. We can't make 1t and
must close. Well pay 100 cents and
have enough left for all of us, but we
don't want to sacrifice that business of
years."
"What security have you got?' asked
the banker.
The broker told him.
"All right. I'll give you the money.
Send the stun here. Jack. telephone
Blank l want to see him."
II sent for you" roared the man
who had been up days and nights try
ing to bring financial peace out Of
chaos, ito tell you what I think about
you, but ! haven't the time now.
You've been pounding this market
ever since this trouble began, trying
to make money when everybody else
has been trying to help those In trou-
bic. You 60 back to your Office and
stop calling loans. II you call another
one I'll break you and drive you out
Of business
And that settled II.
David Bows, In his day one Of the
great men In the financial district
once said to the banker:
Morgan, you see lot Of young
men and seem to be able to pick up
better ones than any man know.
want q man whom I can trust to look
out for my affairs when I am away. |
II you can get me such man I'll pay
him $4,000 a year and forever be
your debtor"
"Dows," said Morgan, when you
find that man send him to me, and I'll |
pay him $4,000 a year and pay you a
bonus for discovering him." - New
York World.