The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1913-04-01
J.P. MORGAN DIES
IN HOTEL AT ROME.
Continued from First Page }

I
ference tomorrow. and details as 10
the funeral would then be worked out
The immediate effect on the n,achin
cry of Wall street of Mr. Morcans
death was comparatively slight on
the stock Exchange the news from
Rome had largely spent its force with
IN hitcen minutes after. tho opening OF
the market Mr.. Morgan's illness had
prepared the financial district for tho
end, and every precautlon had been
taken 10 guard against a serious break
IN prices Al the opening the promi-
ncnt stocks declined n point or so. but
they received prompt support and rallf-
cd quickly Thereafter tho market was
dull.
Wall streets relations with the head
OF the house OF Morgan had been OF
S"ch lRrEc consequence for so many
years that the news OF his passing
MADE an enormous Impression From
bankers. brokers. railroad and business
men came tributes to the dead man
! outside the Morgan Offices there v,as
! n curious crowd for some time after
I the news was received on the glass
"or thcre was terse notice that the
ofices would be closed for the day
/ Friends OF Mr.. Morgan pointed out
another reason in addition to the warn
( ing given by his illness why the 0nan-
/ cicr's death WIS not seriously distrub-
lng. His career, they Raid was round
ed out lie had accomplished virtual
/ u all he started out to achieve For
some time the Morgan arm had 70.
! trained from large new cntcrpriyes
MI mat human foresight could die
tate had been done during the LAST
year or two to safeguard the business
ana financial world against calamity
when Mir. Morgans last hour came
resolution adopted by the board
( or Governors of the Consolidated FIX
/ char &C said
In the death OF Mr.. MorSaa his
! country has lost real Ame-lcll a.
/ |fr VINO united with his genius for
finance generous desire TO serve hia
fellow citizens TO the fullest exten, m
inc uphuilding aud maintaining os
American credit throughout the porld.r
Nothing known OF VIII.
Noth'hg Is known As Yet rs TO how
Nj Morgan in his will disposed of his
vast estate J. Pierpont Morgan. .tr..
mas heeh MS fathers underatudy for
years, and is classed high in financial
ability. He served his apprenticeship
in the London house OF Morgan. Gren-
frii and ComptE!. he Is in the fortieI
and greatly resembles his father in
facial detail, build ard even in manner
OF walking. Like his father. he ia
quick at reaching n determination on
big questions. brusque and intolerant
OF small details His preparation TO
take his fathers place in the business
world has been thoroughly worked oft.
The extent of Mr.. Morgans philan-
thropic gifts probably will never bo
known. He gave unostentatiously-.
impulsively rather than along the lines
OF a fixed campaign. Probably his
largest gift was $4,000. 600 toward tina
building OF the Cathedral Of ST John
the Divine in this city. For tho
founding or tho great Lying in Hos
pital, near 81. Georges church. where
Mr. Morgan was warden. he donated
muniticcnce to the extent of $500. 900.
! with which was built the Medical
School in Boston. Trinity College was
given s250000 for n library
If the accounts OF Mr.. Morgan could
he seen. it Is said. they would dis
close the names or numerous persona
whose fortunes lost in investment In
Morgan ecurities, were returned To
them. Notablea mong these It Is
stated. would be the name OF noted
jurist. who. after he had ceased active
work, lost his all in investments
made as he supposed. on tho advice
OF Mr.. Morgan.
As q patron of art, Mr.. Morgan was
as famous as in the world of finance.
eNpendturcs for objects of virtue
were boundless. il was only ncccs-
sarv tor him To see some painting.
struci. his artistic fancy, and he swould
always was a secondary con sid ration
to possessing All art treasure
His collection In the metropolitan
Museum of Art has been estimated by
connoisseurs to be worth $oo000.00o.