Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
JACK MORGAN
SEES No USE IN
TAKING CHANCE
Dropping of New Haven Thor
oughIy in Keeping With Cau-
tious Character of Son.
BY ROERSANIER.

CHICAGO, Sept 2O.-J. p. Morgan
will have nothing more to do with the
New Haven Road. This is definite
and definitive.
1t also is pregnant with meaning
for finance, national and information
al II means, primarily, that hence
forth the house of Morgan will he
conducted on old-school OF, to speak
COnventionally, conservative lines.
The change is due to the personal
ity Of Jack" Morgan. The son has
everything in common with his ia
Their save viewpoint, disposition and
temperament Physically he is the
seniors duplicate, a resemblance that
is startling, and includes even the
sire's abrupt, staccatO speech.
The divergence is the sons con-
servatism in almost everything (save
possibly religiOn). He does not, he
never could, understand temerity in
finance When his will shall have
been prObated, It will be found TO con-
tain a list Of seasoned and perfected
securities-quite in contradistinction
to the amazing mass Of venturesom5
paper left by the father.
Wants Popular Issues.
Jack" Morgan, genial, kindly, 30
ciable and somewhat indolent, does
not lack hrst-rate ability or pene-
trating acumen. He simply does not
deem il worth while to take a chance,
So long is the properties for whiJn
his house Is the fiscal custodian give a
good account Of themselves they VIII
be retained But once let them fail
into disfavor, after the manner of the
New Haven, they viii be dropped.
The Morgan of to-day will not be
Identified with furnished or unpopular
propositions.
ContraiWise, the late Morgan's ven
lures were astonishing and colossal.
If he could create three out of five
successes, he was well pleased with
himself. And he stuck to the cOmpa-
MES fathered by him through years
foul as well as fair, as witness IN
ternational Mercantile Marine, and,
in minor degree, American Mating
Company and the North American
concern. which were desperately reor-
ganiZed.
Another departure ensuing natural
w upon the cardinal change is the
institution of civil service In J. +.
Morgan & Co. Men will not be pick
ed up. seemingly at random, in DIFF
ferent parts Of the country and i'm
mediately made high ranking part
ners. The departed Morgan thought
he had a genius for detecting bust
ness geniuses in obscure corners OF
the lan1. His associates, including
his son, thought otherwise. And
thinking otherwise. the successor VIII
procure his cabinet from among the
ONCE staff-from among tried and
faithful employees
Criticised His Father.
Although not as openly recusant TO
parental authority as his sitser, Anna
vHh iC the
tai replica of her father-"JaCk' was
rot slow Of late years in critcising
some of the seniors moves. For in
stance. he told the depOnent that he
could not understand why his father
took over the Chicago City Railway
without investigating the franchise
status Of the company. 1T was an in
exCusable oversight" the son added.
II was a sin of omission such as
the then junior could not have COM
mitted--and which the, now senior
will never commit.
The j. p Morgan e Co. OF to-day
may not do the volume of business
done by the J. T. Morgan & Co of
the past. but it will be a safer and
not unlikely a more profitable bust
ness, taking one year with another
DislIkes the Fog.
In a more active and larger sense
It will be a turnover, qualitatively,
similar 10 that of the London house
where the partners, figuratively, do
not go out In foggy weather unguided
Jack Morgan will do as the Lon
doners with their fog; go out eau
tiously into the grouping crowd and
patiently make his way, knowing by
a we'll grounded faith that the sun is
in existence and must one day ap-
pear. He will not impatiently rush
through as his father did.
Some super milliOnaireS beget care
full sons. The first J. Pierpont Nor
gan was surprised to find himself one
of them.