davidaulloa/AmericanStories huggingface dataset:
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

many. At 81 he embarked on his
career as a banker.
his achievements all the world knows.
Few men have been more widely
feared, yet more generally trusted.
Those who met him only in a bust
ness way saw a mar rough, emphatic
and repellant, inaccessible as the
emperor of Russia when he chose
to be, known as the worst man in
the world to interview and as a man
who believed absolutely in himself
and apparently never questioned the
correctness of his methods.
His friends, however, knew him as
a simple, unaffected companion, an
interesting conversationalist, with
keen wit and genial humor.
Once a woman asked him why he
kept on accumulating money when
he already had more than he needed.
81 do not love money" Mr.. Nor
gan is said to have replied, but I do
enjoy the excitement, the fun of
making it,"
Business was not all to the life of
j. Pierpont Morgan. His office hours
we're short and at the close of his
business day he left his office and his
business behind him. Woe to the
person who then approached him on
business bent. He cared little for
society, but was fond of a good din
ner in congenial company, or rare
wines and big black cigars. Wine,
he partook of with moderation. To
cigars he was almost a slave.
Nothing is known as yet as to how
Mr.. Morgan in his will disposed of
his vast estate. j. p. Morgan, Jr.,
has been his fathers understudy for
years, and is elassed high in financial
ability. He served his apprenticeship
in the London house of Morgan,
.Grenfell & Co. He is in the forties
and greatly resembles his father in
facial detail, build and even in man
ner. Like his father, he is quick at
reaching a determination on big ques-
tions. brusque and intolerant of
small details. His preparation to take
his fathers place in the business
world has been thoroughly worked
out.
John P%ierpont Morgan started his
business career half a century ago
on the board of directors of a large
maritime insurance company. He
secured the position through the in
fluence of his wealthy father. For a
year young Morgan attended the di-
rectors' meetings, but never opened
his mouth, except to vote.
The president of the company told
the elder Morgan that nothing could
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

]. Pierpont Morgan's colleetiohs u
ort and literary treasures are ue-
.orihod as the most wonderful known
10 modern times-perhaps 10 any
neriod Throughout his later years
no maintained a systematic search Oh
tbe world for the choicest products Oh
.ho masters in art. The world knew
him ae an irresistible buyer OF books,
manuscripts, pictures, miniatures,
maioliea. porcelain. tapestries, broh-
7os iewels-prieeless articles made
more precious by their antiquity or
their historic associations.
His library, erected about ten
wears ago in the rear of his residence
off Madison avenue, in New YORK
CITY. is unique among the Libraries OF
the world.
The library occupies an imposing
two-story. %fireproof building that cost
80. 000. 900. its walls having a thick
ness of four feet, the outer wall De-
ing of marble, with a fourteen-lnch
space and an interior wall OF brlck'
Inside is a vault of steel, in which
the most valuable of the old manu-
scripts are kept. The Circassian wal
nut book shelves and four or five
doors are the only part of the build
ing in which wood al used. Sliding
shutters of asbestos are provided for
the windows. The building is inelos-
ed by a fence of solid bronze.
In this sumptuous setting has been
gathered just such a collection as a
man of fine taste might have formed
If he had had the pick of the choicest
volumes in all the great national IL
braries in the Old and New worlds.
There are the finest missals, auto
graphs of the best books, a series
from the Golden Gospels Of the
seventh century, down to the
Memoirs of Byron, Gutenbergs and
Caxtons; while series from the press
es Of Venice. Florence and Augsburg;
lovely French Books of Hours; the
most perfect Aldines; the rarest of
Elzeyirs.
In acquiring many of these costly
books and manuscripts Morgan was
bidding against the entire Old World.
He had the money, and he went into
the markets of London. and Paris.
ransaeked Greece, Italy. Spain. Egypt
and the Holy Land in his quest of
rare editions. Ii was in Greece that
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06
SPENT MILLIONS FOR WORKS OF An
AND FOR THE AID OF CHURCHES AND SCHOOL,

he found and acquired the
manuscripts.
Experts place the value of the M.
gan collection at $50. 600, 900.
Was Good To the Churches
The extent of Mr.. Morgan's ph,l..
thropic gifts probably never will ,
known. Probably his greatest 81.
was $4,500,000 toward the huila,sl
of the Cathedral of st. John tho ~
vine in New York City. For a..
building of the great lying-in hosni,.,
near st. George church, of which N.
Morgan was a warden, he dona,aa
$1,350,000. Harvard benefited !.
his muniieenee to the extent of n.
500 900, with which was bnil, ~.
medical school in Boston. Trln,tv
college was given $250,O0O for a n
brary.
One hundred thousand dollars va.
contributed by P%ierpont Morgan n.
"
ward the reconstruction and rehab,p-
tation OF the Protestant Episcon.,
churches of San Francisco following
the fire of 1906. That sum was nlao-
ed at the disposal of the churches a,
the time of a visit to New York Civ
of Bishop William Nichols of the San
Francisco diieese shortly after the
fire.
'Mr. Morgan, one of the foremost
Episcopal laymen in the world. at.
tended the %triennial convention oj
the church in San Francisco in 1907
Arehdeaeon John A. Emery said.
and felt a deep interest in the
church's welfare here. He vas par.
ticularly interested in the Cathedral
project, and at the time of our mis-
fortune he was prompt In making /,
known that he desired TO be of ma
terial assistance. He was the most
generous contributor TO the work of
restoration. his donation being for
the benefit of Grace Cathedral. 81
Luke's. ST. Johns and other church.
es that suffered"
Morgan was one of the most az.
tive lay members of the Episeopal
convention In San Francisco. He ar.
rived from New York for the con.
yention In imposing style. aeeompanI-
ed by a high salarled chef and a corn
OF attendants. During this visit he
occupied the old Croker residence
on California street hill, which had
been placed at his disposal.
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

a measure separate and distinct from
the house of j. =. Morgan & Co. The
partners in the Philadelphia house
are Edward T. Stotesbury. long a
prominent figure In the financial and
social life of Philadelphia. Arthur E.
Newbold and Horato G.. Lloyd.
Place OF Burial.
The last resting place of John Pier
pont Morgan, probably Will be a
m%ausoleum In Cedar Hill cemetery.
Hartford, Conn. which he had erect
ed some years < In memory Of his
father and mother. When the body
of Mr.. Morgan reaches here from
Rome. II Is expected the funeral ser
vices Will be held In the Cathedral
of ST. John the Divine, toward the
construction OF which Mr.. Morgan
was a large contributor.
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

These verses were modestly writ
ten by Edmund Vance Cooke and APP
peared in the Cleveland Press in
April of 1901, which was a long time
ago in the financial history of our
country and just at the beginning OF
Mr.. Morgan's financial operations.
At the time when Mr.. Cooke wrote
the satire he did not apprehend any
merit to the work, nor did he believe
that he had written verses that would
be the talk of Wall street and pub
lished in almost every journal of the
English language the world over.
The satire had a kick" to it that
made it extremely popular and it
went the world over wherever the
English language was spoken or
printed. The Wall street associates
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

be done with his son, who seemed TO
take little interest in business. John
Pierpont Morgan at that time was
laying plans for his first railroad con-
struction, which when accomplished
established his standing in Wall
street as the only man who eyer got
the better of Jay Gould.
The sobriquet of Sphinx of Wall
Street later was the appellation ap-
piled to the man who at first was be-
lieved to have been without business
acumen, but later became the
supreme head of American finances.
Control of Men and Money Keynote.
Morgan's control over men and
money was the dominent keynote of
his life. Others, perhaps, were
weather than Morgan, but he COM
manded his wealth and the others.
At the height of his power he is said
to have controlled $4,000, O00, 900.
Mr.. Morgan came from an old
Puritan New England family, which
dates back in this country to 1886.
He was born in wealth. His father,
Junius Spencer Morgan, left him
100000 and he inherited i'm
portant banking connections. j. S.
Morgan had accumulated his fortune
in the dry goods business with Lew
p. Morton, and later as an associate
of George Peabody, merchant, banker
and philanthropist.
No financier ever produced in this
country welded such enormous pow.
er as j. Pierpont Morgan. whose
place In the money markets of the
world cannot be taken by any half.
dozen living finaneiers. He had the
genius which inspires confidence in
great financial transactions; he had
rare training under his able father
and he had that power over mer
which results in worldwide credit
Thus in the last twenty years Nor.
gan's name came to be a great inter
national power, and any projeer
which he approved could obtain un
limited capital in any of the grea
financial centers of the world.
During the troublous times follow
l.
ing the financial panic in 1897, Nor
gan was the man who accomplished
more than any one else to brin,
order out of chaos and restore con
fidence. The resources of his wealth
his masterful direction of affairs an
unerring judgment were factors tina
tended to the common good.
MOrgan's Fortune.
John Pierpont Morgan practieall
controlled $1,000, 0OO, 900. Hi
personal fortune will probably ex
lceed s500,00O.OO0., and will con
tinue to grow despite his death be
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06
ITS MORGAN'S.'

of Mr.. Morgan took pains many liinee
To call his attention to the lines VI
Mr.. Cookies verses.
Edmund Vance Cooke is a vislloi
TO Salt Lake City. and when he learn
ed of the death of the world famous
6nancier, J. Pierpont Morgan ne
called the the Evening Telegram anu
personally dictated his satire and ielt
the following tribute to the late IL
nancial king:
THE verses were written with no
personal luminosity toward Mr.. MOT
gan. because Mr.. Morgan's nnanciai
morals were neither any worse norahS
better than those of any of the rest
of us. When he was the central ng-
ure in the alarming GENERALIZATION oil
wealth. he himself was not the as
ease. but only one of the symptoms
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

came to a mill by a riverside,
A half mile long and nearly as WIDE
With a forest of stacks and an army OF men
Toiling at barrow and shovel and pen.
what a most magnificent plant" cried,
And a man, with a smudge on his face, replied
Its Morgans."
| entered a train and l rode all day
On a regal coach and a right of way
Which stretched its arms all over the land
In a system too large to understand.
"A splendid property, thisi" l cried,
And a man, with a plate on his hat, REPLIED
Its Morgans.'
sailed on a great ship stauneh and true
From pennon to keel, from cabin to crew,
And that ship was one of a monstrous fleet;
A first class navy could scarce compete.
What a most magnificent craft | cried,
And a man with akimbo legs replied,
Its Morgan's.'
| dwelt in a country filed with pride;
Her people were many, her lands were wide;
Her record in war and science and art
Proved greatness of muscle and mind and heart.
what a grand old country it isl" / cried.
And a man, with his chest in the air, replied,
Its Morgan's'
| went to heaven. The golden walls
shone high and bright, and the jasper halls
lowered bright beyond. But a strange new mark
Was over the gate, viz, Private park"
why. what is the meaning of this?" | cried,
And a saint, with livery on, replied,
Its Morgan's."
l went to the only place left. I'll take
A chance in the boat on the birthstone lake,
Or perhaps | might be allowed to sit
On the griddled floor of the bottomless pit,
But a leering lout, with horns on his face,
Cried out, as he forked me off the place,
ITS Morgan's."
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

entirely at ease and under no un-
usual strain"
J.P. Morgan & Co., the Guaranty
Trust company, the First National
bank and the National City bank, all
institutions of New York City,
through 341 interlocking directors
are allied with corporations having
resources of $22,245, 600, 200.
Before the Pujo committee of con-
gress in the investigation of the
money trust Mr.. Morgan made the
following statement;
my firm had 500, 900, 900 of de-
posits November /.
I'VE act as agents for United
States Steel corporation.
1--WE are sole bankers for New
York Central lines, including four
big railway systems.
Our firm has handled several hun
dred millions of New York Central
securities in the past 10 years.
I'VE are sole agents for the New
Haven railroad. and act for American
Telephone & Telegraph company.
81 was a member of voting trust
that recognized Northern Pacific.
81 named entire board of directors
of United States Steel corporation,
said who should stay on and off,
picked Judge E. H. Gary for chair
man, fixed prices at which subsi-
diaries should go in; in fact, our
company had the whole corporation
and did its banking.
Members of our firm are on di-
r~eetorates of many banks, entire
boards of which are picked by voting
trusts, but I see no harm in it,"
Estimates of the fortune left by
j. P. Morgan, as made in the finan-
cial district, range from $751;
000,0 to $500, 900, 900, the sum in
Guiding his art collection. 1t is
understood that the inaneier's will
is comparatively recent date. but no
intimation has been made as to when
it will be given to the public.
Those who shared Mr.. Morgan's
close friendship predict that there
requests, although it is conceded
that his son, J. p. Morgan, Jr., will
doubtless receive the bulk of the
fortune.
Mr.. Morgan's realty holdings were
comparatively small and by the
greater part of the estate, it is un-
derstood, will be found to be made
up of gilt-edged securities. Judg-
ing by his former quiet philan-
as to possible requests thought that
the Metropolitan Museum of Art,
the Episcopal church and perhaps
Yale and Harvard universities would
come in for handsome benefaetions.
j. Pierpont Morgan was born
April II, 1887, in a brick cottage in
Hartford, Conn. AS a youngster his
tendency to write poetry gave him
the nickname of Pip" When he
was IA Morgan was sen to Boston to
the English high school. He showed
a particular bent for mathematics,
but had no gifts indicative of un-
usual mental power. Probably his
first attempt at finance took place in
Boston. The school teacher gave
him money with which to buy
erasers. Young Morgan was gone for
a long time. When he returned he
handed the teacher the erasers and
also some change.
whats this for?" asked the
teacher. Il gave you just enough to
buy the erasers. | always paid that
for them"
"oh," replied young Morgan, Il
went around until | could find a place
to buy at Wholesale"
For two years after graduating
from the Boston high school, Morgan
was a student at Goettingen, Ger
~
White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1913-04-06

cause Of investments which will not
be affected by his passing. Follow
ing are the best estimates obtain
able Of his wealth:
Estimated capital of Morgan's own
companies. 1885, 00. 900.
Estimated capital of Morgan's
affiliated companies, So. $50. 600, 900.
Morgan banking interests, $1,000
O00. 900.
Morgan's partners. s1,5OO.OOo.-
900.
Grand total capital practically con-
trolled by Morgan, sf1.4OO. O00. 600.
Collateral Morgan interests esti-
mated at $4,000. O00 1000.
Personal fortune estimated at
$500, 100000
Inherited from father. about s1o.-
900 900.
He controlled over so. 900 miles of
railway in the United States.
Director i'm Many Concerns.
lie was a director In scores Of cor
porations, some of the more impor-
tant ones being Western Union Tele-
graph company, United States Steel
corporation, West Shore railway.
Rutland railway. Pittsburg and Lake
Erie railway. New York. New Haven
and Hartford railway. Aetna Fire In
surance company. Big Four railway.
FIRST National bank, New York.
General Electric company. Lake
Shore and Michigan Southern rail-
way; Michigan Central railway.
National Bank of Commerce. Naw
YORK New York Central railway and
New York, Chicago and st. Louis
railway.
The principal heirs are Mrs I
plerpont Morgan. widow; J. piernop,
Morgan Jr, son; Miss Anne Morgan
daughter; Mrs. Herbert l.. satterlaa
daughter; Mrs. William Pierce
Hamilton, daughter.
Partners of the Financler.
Inc seven partners in the great
banking house of ]. P. Morgan G. "a
and the men upon whom conduct ~
business will o deyolye are: .John
rlerpont Morgan, Jr., more familiar
~ known as Jack" Morgan.
Charles Steele, Oldest of the
preseht partners in the house.
marry p. Dawson, who In lator
years mad come to be looked uno, =
j. Plerpont Morgan's r~ight-hand man
ihomas W. Lamont, friend and
"e,,ons associate of DAWSON.
william P. Hamilton, one of the
sons-ln-law of the dead n~nancior
william II. Porter, a nract,o.,
in 1911. '"e urn
'p,e nowdoin, son of one of the
quest OF the Morgan partners
IN addition to these men ,hero
a'e IN Philadelphia. three men CON.
ne'ted with the house Of Draw, NJ
20 This banking house is n
Morgan concern, but has haa.
Charlevoix county herald., 1913-07-05
SYNOPSIS.

Fran arrives at Hamilton Gregory's
nome in Littleburg, but finds him absent
conducting the choir at camp meeting.
she repairs thither in search of him.
laughs during the service and is asked to
leave. Abbott Ashton, superintendent OF
schools, escorts Fran from the tent. He
tells her Gregory is a wealthy man.
deeply Interested In charity work, and
pillar of the church Ashton becomes
greatly interested in Fran and while TAX
ing leave Of her. holds her hand and is
seen by Sapbhira Clinton, sister of Rob
ert Clinton. chairman OF the school board
Fran tells Gregory she wants home
with him. Grace Noir. Gregory's private
secretary. takes a violent dislike to Fran
and advises her 10 so away at once
Fran hints at a twenty year-old secret
and Gregory In agitation asks Grace TO
leave the room. Fran relates the story
of how Gregory married a young girl at
Springfield while attending college and
then deserted her Fran is the child Of
that marriage. Gregory had married his
present wife three years before the death
OF Fran's mother. Fran takes liking 10
Mrs. Gregory. Gregory explains that
Fran is the daughter Of a very dear friend
who is dead. Fran agrees to the story
Mrs. Gergory insists on her making her
home with them and takes her 10 her
arms. The breach between Fran and
Grace widens. 1t is decided that Fran
must go to school
Charlevoix county herald., 1913-07-05
GOOD TIMES In CANADA
BUSINESS PRosPERINe, TRADE
INCREASING AND FINANCES
IN GOOD SHAPE.

The present tightening up of money
must not be looked upon as being in
any sense brought about by financial
stringency. 1t is really more period
OF stock-taking resorted to by the
banks to ascertain the true condition
OF the finances and trade of the coun-
try. Legitimate business enterprises
are not affected. Throughout the
States there are those who II allowed
to continue borrowing, would inev-
itably be means towards precipi-
tath-g something good deal worse
than they feel now. In Canada, the
conditions are excellent, and it Is
safe to say business was never bet
ter. The pulse of trade is carefully
watched by the Finance Department
OF the Dominion government, aud IL
is illuminative to read portions of the
address of Hon. w. r. White, the
Finance Minister, delivered few days
ago before the House of Commons.
Mr.. Whites remarks are in part as
follows:
1t falls agreeably tC my lot to ex-
tend my most hearty congratulations
to the House and the country upon
the prosperous conditions which it
continues to be our good fortune 10
enjoy / am happy to announce that
the outcome OF the last fiscal year,
which ended on March 81, will prove
even more satisfactory as rejecting
by far the highest pitch to which our
national prosperity has yet attained.
have every expectation that when the
books are closed, it will be found that
the total revenue will have reached
the splendid total of $16S,250,000, or
an increase over the year 1911-12 of
over $32,000,000 Some indication of
the magnificent growth of the Domin-
ion may be cleaned from the fact that
this increase in revenue during the pc
Rod of one year almost equals the en-
tire revenue OF the country seventy
years ago.
THE augmentation of revenue to
which l have referred has not been
irregular. spasmodic or intermittent
in its nature, but has steadily charac-
terized each month of the entire fiscal
from Customs receipts, but the other
sources of revenue-excise, post Office
and railways-also gave us very sub
stantial increases"
"That in a period of great finan-
cial stringency not only have we not
been obliged to resort to the con-
gested markets of the world, but have
been able to reduce so substantially
(s23, 000.000) the debt OF the Domin-
ion, must be matter of qualification.
both to the House and to the people
OF Canada.
Il believe that during this period
of exceptional money stringency tho
credit of the Dominion as reflected In
the quotations of its securities has
maintained itself among the highest
In the world"
Owing to the favorable state of its
finances Canada was in a position to
pay off heavy loan in cash without
recourse to the issue of bills or Sc
curities.-Advertisem
Charlevoix county herald., 1913-07-05

imagination to keep from copying
after your biographical sketch IN the
newspaper? / don't believe she is
your friends daughter. ! don't be-
lieve you could ever have liked the
father Of a girl like Fran-that he
could have been your intimate friend"
well" faltered Gregory. But why
should he defend Fran?
Mr.. Gregory" she asked, as il what
she was about to say belonged to what
had gone before, would it greatly in
convenience you for me TO leave your
employment"
He was electrified. "Grace lncon-
venience me!-would you-could !"
81 have not decided-not yet.
Speaking of being yoked with unbe.
lievers-I have never told you that Mr..
Robest Clinton has wanted me to mar
ry him. AS long as he was outside OF
the church, of course it was impos
sible. But now that he is converted
"Grace." groaned the pallid listener
He would like me TO go with him
to Chicago"
But you couldn't love Bob Clinton
he isn't worthy of you, Grace. It's
impossible. Heaven knows I've had
disappointments enough" He start
ed up and came toward her, his eyes
glowing. "Will you make my lite a
complete failure, after all?"
Love him." Grace repeated calmly.
This is merely a question of doing
the most good. | know nothing about
love"
Then let me teach you, Grace.
let"
shall we not discuss it?" she said
gently. THAT is best, think. II de-
eide to marry Mr.. Clinton. will tell
you even before tell him. don't
know what / shall choose as my best
course"
but. Grace! What could do
without"
shall we just agree to say no more
about it," she softly interposed. THAT
is wisest until my decision is made.
We were talking about Fran-do you
think this a good opportunity for Mrs.
Gregory to attend services? Fran can
stay with Mrs. Jefferson"
II have no doubt" he said, still agi-
tated, that my wife would find 1t easy
enough to go to church, IL she really
wanted TO CO."
"Mr. Gregory" she reproved him.
WELL" he cried. somewhat defiant.
ly, don't you think she could 60. II
she wanted tor"
Well" Grace answered slowly,
this gir' will leave her without any
any excuse"
"Oh. Miss Grace, n my wife were
only-l!ke you'll mean, about going
to church,"