Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1913-04-01

the Morgan firm had RETAINED from
large new enterprises. All that hui
man foresight could dictate had been
done in the last year or Two To safe
guard the business and financial
world against calamity when Mr. Nor
gan last hour came.
business WAS suspended for i've
minutes on the stock exchange today
while the members adopted a resoiu-
ton Go j T.. Morgan's death. The
resolution was read from the rostrum
II was the first time In It's history that
the exchange stopped work to pay
honor In this manner. The resolution
said in part
"Resolved. That the death of John
pierpont Morgan has removed from
America large creative activities, their
most conspicuously useful figure. To
the development OF the resources of
cur country. he has contributed more
than any man Of our day His inn
mense constructive genius was devot-
ed not merely 10 American finunc,
/ and industry but 10 the wide field of
philanthropy and humanity. The
whole world has lost "a wise counsellor
and helpful friend
MI Morgans death will make no
change Ia the firm. according to an
announcement made at tho office of
John +. Morgan n Company n. i.
| Dawson. who made the announce
mcnt, said the business would ho con
Quoted as heretofore
Among the numerous appreciations
of Mr. Morgan was one ~ Elhert n.
/ Gary. chairman OF the United States
steel corporation. the greatest ~ an
the industries organized by Mr. Nor
gan.
"Nonc of Mr. Morgans business as-
sociates will mourn his death more
d than those who are connected with
I the United states steel corporation,
I said Mr.. Gary. His presence. his
counsel. his efforts always were in
/ fluential in the ondeavor TO establish
land maintain a reputation for iair and
honorable treatment towards all who
might be affected by the d',ct
and conduct of the corporation. His
death viii ioave void that never
can be nlled."
A resolution adopted by the board
of governors Of the consolidated ex-
cuange reads.
"In the death OF Mr.. Morgan, his
country lost a real American citizen
who united with his genius FOR fl
nance a generous desire to serve his
/ fellow citizens to the fullest extent In
the uphuildiug and maintaining OF
American credit throughout world
Nothing is Nnown as yet as how Mr..
Morgan. in his VIII. disposed OF his
vast estate. J. 4. Morgan. Jr has
been his fathers undcrstudy for years
ard is classcd high in financial aliiIv.
: He served his apprenticeship in the
I lcnden house OF Morgan. Grenfell &
I Co. He is in the forties and greatly
resembles his father in facial detail,
build and even In manner Like his
father. he is quick at reaching a de-
cision on big matters, brnsque and in
tolerant Of small details. His pre-
paration to take his fathers place In
the business world has been thor
oughly worked out
The extent OF Mr. Morgan's phil
apthropiC gifts probably never Will
be known Probably his largest gift
was x4.500.O00 toward building the
cathedral Of st. John the Divine in
this city. For the founding of the
great Lylng-in hospital near 81
George church, of which Mr. Morgan
was warden, he donated Si.350.V0N.
Harvard benefited by his munifi-
eence e. the extent Of Sl,50O.0n0 with
which was hallt the medical school
in Boston. Trinity college was given
I AdnNsHHN ltt Il lliidfNs
II the accounts Of Mr. Morgan could
be seen. it is said, they would disclose
the names Of numerous persons whose
fortunes. lost in investments in Nor
gan securities were returned to them.
Notable among these, 1t is stated,
would bo the name OF q iurist who
after he had ceased active work. lost
nearly his entire fortune In invest
ments. made, as he supposed ON the
advice Of Mr. Morgan.
As a patron of art Mr.. Morgan was
as famous as In the world of finance.
Ills expenditures for objects of virtue
were boundless. The price nearh
WAYS was a secondary consideration TO
possessing an art treasure His col
lection in the Metropolitan museum
of art has been estimated boy connois-
seurs 10 be worth S50,OO0.0U0. I'm his
private museum next his home are
paintings, tapestries. carvings, books,
manuscripts hronzes and ANTIQUE
gold and silver ware valued at many
millions Of dollars. I'm his collection
of early editions are thirty-two CaN-
tons valued at Sl,250,00
Among some Of the objects Of art
and the prices Mr.. Morgan paid for
them are Raphael's Colona Madonna.
$500. 0G0 the Fragenard panels, de-
lpicting the love affairs Of the Countess
DuparrN $500 600; set of Gothic tap
estries. 100000; the Pfungst collec-
ticn of hronzes. 100000 and Gains
b6rough's famous painting Of the Du-
chess of Devonshire, 100000,
Former President Taft paid a trib-
ute to the memory of j. T. Morgan
tonight at the home Of his brother,
Henry W. Taft shortly after his ar
rival from Augusta, Ga
81 knew Mr. Morgan personally.
said Mr. Taft, but our relations never
were intimate Without doubt ne was
the greatest fnancier that America
ever has produced, and certainly was
one of the impressive world figures
of his time.
Mr. TAFT leaves tomorrow for New
Haven, to become Professor Taft at
Yale.