davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

Commodore Morgan Was one Of thc syn
dictate that had the 'oionia built lie
later served on the committee of inquiry
into tho Duuravcn charges. When Sir
Thomas Upton sent ms first challenge
for race. with the shamrock T. 'ommo-
dorc Morgan personally ordered tho CO.
Mmbla from tho Ii"ucshl0s aS de-
fender. e.. Oliver Isciiu took q share in
the yacht aud became h"r managing
owner.
The Columbia defeated the Defender iu
the trial races and was selected to de-
fond the cup that ycdr-ise I'm I@"l she
was again selected To defend the cup.
having beaten tho Constitution. built hN
another syndicate Tho Columbia was
etll owned by Commodore Morgan at the
time II his death She has lain hauled
ont az city Island over since the last race
again the Shamrock II in 1921. The only
Other Yacht Mr. Morgan owned of late
years WAS his twin screw steel steam
Yacht Corsalr designed by J. Beaver
Webb and built 10y Marvel < Co. at Sew
burg. bon 1905
Commodore Morgan served ON the
Americas cup committees in 1925 and 1901.
Frank II Lawrence. president OF thu
Lotos club and for eleven years menu
Der Of the New York Yacht club, replying
g. "a request for his views on the loss oi
Mr. Morgan To the community, said: We
all miss him now. but when tn next real
crisis comes in Wall street that Is the
time that Morgan will be missed
Abroad the American banker was the
recipient OF many social honors. En-
pcror William Of Germany WAS guest
on the Corsair at XII on several oc-
casions. and the consideration shown Nj.
Morgan by royalty was adversely COM
mented upon by certain German newspa-
ocrs. The fnancier IN turn was enter
tanned by the Kaiser on the imperial
Yacht Hchenzolern Mr.. Morgan after
ward refused To discuss his interview with
the German ruler further than 10 say. y
have seen the Kaiser and | like him. -
lie also met King Edward in social way
at a dinner given at the American En-
bassy. \ sensation was produced n
Rome I'm 1906 hen the Pope granted IN
audience 20 the American hnap'cr. His
holiness showed him special Difference.
As soon az he lett his carriage 10 enter
the bronze portals Of he Vatican the
Swiss guards were lined up AMI paid him
the same honors usually rendered 10 roy
atty.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

Nine years later M Morgan executed
another railroad coup Dv mis- famous pur-
chase OF s25.eo0pc In New York Central
Railroad stock from W. II. Vanderbilt
M go This stock after some manipula-
tioa was sold I'm the London market at
80. securing for Drcxcl. Morgan q Co a
profit of about 100000. This won from
M Vanderbilt an admiration for J. f..
Morgan which enabled the latter. i'm 1855.
10 act as concilator in putting an end
10 the strife between the New York Cen
nal and the West Shore To the advantage
of everybody. The West Shore had been
built 10 bleed the New York Central and
had become bankrupt In the process. He
put the system on its feet and leased It
To- the Central His reputation a. great
railroad organizer was now established.
In lS>6 he took up the affairs OF the
Baltimore & Ohio and lifted it out OF the
bankruptcy threatened by the incompe-
tcncv Of the elder and younger Garrett
and wardcd of what might have been a
general panic
The next year the Philadelphia & Read
ing Railroad Company claimed his atten-
ton. shattered by the dangerous ambi-
ton Of \. \ Mcleod Mr. Morgan sue
Ceoded i'm selling I'm London the road =
entire issue OF I per cent bonds. task
in which Austin Corbin despite his skill
had failed THAT was the year OF the
historic meeting OF railway presidents in
the Fifth Avenue Hotel. where over forty
companies were represented. Mr. Morgan
appeared there and warned them that
any dcm)ralizing attempt by any one road
would be punished by the combined ac-
tion Of the rest. From that time on his
prestige I'm railroad circles grew by rapid
strides In 1887 he got control OF the
Lehigh Valley. Then the Northern Pa
cidc collapsed under the pressure Of high
finance Mr.. Morgan sold its bonds
around the world
The Richmond and West Point Ter
mnal Company went under. Again the
rcorganizcr came TO the rescue, and out
Of the ruins built tho Southern Railway.
The Ontario u Western. the Chesapeake
< Ohio. The New York New Haven 81
Hartford, the Louisville & Nashville. the
Atlantic Coast Line. the Hooking Valley.
the Monon and dozen other lines all
sought aid 1T Broad and Wall streets. got
IT, ana fell under the influence of the
master. ~ 1902 the Morgan interest con-
trolled 55,5,5 miles of American railway.
more than the mileage OF Great Britain
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01
UNLIKE. MANY FINANClERS
HF, WAS BORN TO WEALTH

calm eyes. his solid upper M. Ihoush' Jul
truth. he pssayed poetry as boy. II"
artistic temperament Of the maternal
grandfather found vent in 'hc fnancicr
I'm after wears only i'm his passion for art
lie might have been writer
or painter had not his fathers genius
for finance predomInated.
The future fnancier was born on Auril
Il. 1897. in a modest red brick cottage IN
Church street. Hartford. Conn. His boy
mood. however. was spen. IN the more pre-
tentious house on Farmingtor avenue
bJilt by Joseph Morgan and later owned
~ William X Morgan.
The boy was "A sturdy. Independent
youngster with little to say and taking
small part in the social side Of his
school life. In the West Middle District
school where he began his studies. his
tendency 10 write poetry won him the
title of Pip" which followed him til
the family moved 10 Boston, when he
was fourteen. and he was sent to the
English High School He also showed a
practical bent in his fondness for mathc-
MATES. though. on the whole, as stu
dent there was nothing 10 indicate any
unusual mental power.
An incident Of these district school
days betrays the financial instinct in
embryo. one day the teacher gave
young Morgan some money to buy eras-
ers. The boy did not return until some
time after he was expected, when he
produced the erasers with some change
Here, what's this for?' said the
teacher Il gave YOU Just enough TO buy
the erasers at the price ! have always
paid"
on replied the young fnancier 81
have been going around town until
could find place where could buy
them at wholesale"
For two years after graduating from
the Boston High School young Morgan
was a student at G6ttingen. Germany
Then. at the age OF twenty-one. he en-
barked on his career as a banker.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

have made ii had that been his object 4
woman once asked him why he kept on
accommodating money when he already had
more than he needed. Il do not love
money for its own sake" he replied, but
do enjoy the excitement. the fun and
the battle OF making IT," on another
occasion he said II long ago made the
sum Of money which in my boyhood days
dreamed that | would IKE TO have. but
/ had created an enterprise that demand
ed my time and attention TO develop. and
have never since been able - get away
from the treadmill, and now never expect
TO. unless senlity or death claims me"
At one time. when railroad speculation
and competition We're threatening the in
vestments of the United States and the
Old World as well Mr.. Morgan saw the
danger and got control of the disturbing
element. the West Shore Railroad Com
pany. He ended the danger and saved
the investments Of thousands. dis ser
vices in this connection were worth mill
ions in actual money. Mr.. Morgan had
made millions by less work many time,
but in this instance he refused to accept
any fee)
Mr.. Morgan had the true fighters ad-
miration for an able foe. Just before
sailing for Europe in February 1909, he
expressed his sorrow FOR Charles w.
Morse. who was then in prison, and de
clared he still believed in him. Mr..
Morse got the better Of me in business.
he said. land have great respect for a
man who can beat me IN business.
INT ltag lakF m 10
whole of j. p. Morgan's life. He was AS
Intensive in his pleasures as in his work.
His Office hours were short, and al closing
time he left all business cares behind him.
Woe 10 the man who entered his Office
with affairs other than business. Equally
was he who tried 10 talk
business 10 the fnancier outside of Office
hours He cared little for society in the
generally accepted sense, however HIS
delight was "A small party OF conGenial
friends. and in this select group was sell
dom included business advocate lie
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

j. T. Morgans significance In the world
of finance was not that of man of
wealth. but of financial expert, n con-
trollcr and organizer of the fortunes Of
others His relation 10 wall street was
little understood hy the public. MI Nor
gan .Iecried speculation first and last,
though his urcrcst nod drove prices up and
down Andrew Carnegie was great
ironmas,er On the foundation he laid
Mr.. Morgan built the steel Trust. hut he
himself knew nothing Of the technique OF
the steel business. Jay Gould wrested
vast fortunes from his financial foes but
hc was never ar upnuilder. like Mr.. Nor
gan. James j. Hill and t. II. Hartman
are mentioned In comparison. They were
railroad men pure and simple Mr. Nor
gan controlled millions Ia railroads. bat
cared little for the details Of their man
aecmrnt The Astcrs. other types Of
great wealth. were primarily real estate
men. John -. Rockefeller made a spe'
ciaIy OF the oil business
But J. =. Morgan was pre-emncntly a
hankcr-a worker with money, pro-
noter raised To the nth power man
the timid owners of capital trusted alb
soIutcly with their money. lie was an
adviser OF presidents as 10 their policy
secretaries OF the Treasury and mayors
of cities came TO him for assistance
Crowned heads conferred with him and
the Pop. at Rome claimed him as 4
counsellor in the pecuniary AFFAIRS OF his
church. lie once confessed To Secretary
Shaw that he was forcoo constantly into
the position of being the financial nioni-
tor OF many Americans who mailed thelf
money to him with instructions to invest
il II always indorse on these letters.
ne added. Invest in United states gov
ornmcnt bonds: they are the safest invest
ment that can I've made.
one Wall Street man. asked what was
tho secret of this confidence in Mr.. Nor
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

Il have seen not once but several
lines" said fellow financier. Mr.. Nor
gan walk up and down a room wh,re "a
dozen were seated about nj desks. and
rs he walked they flung up at him ques-
tons ~ to momcntous affairs. diverse
unrelated calling for determination as to
action. on which the security Of thou
sands depended and the fate Of organized
Industries hung. and Inc would decide one
after tho other with apparent ease ANA
swift conclusion"
While y big deal was on I'm tho Morgan
firm each partner and employo had one
Of the details to handle, but knew MOTH
Ing Of the general plan. II was after
some weeks of apparently almlcss wander
ing about his Offices that the head of the
firm called his partners together and told
them that hc had bought the New York
4 Northern Railroad and had sold II TO
the New York Central 4 Hudson River
Railroad Company at profit that would
seem to almost any other firm in Wall
street satisfactory pay for years labor.
Up Ia that moment not one Of the part
ucrs had known Of the transaction. but
nearly every ono Of them had done some
thiuc at Mr Morsan's direction toward
bringing II about.
The direct Morgan interests included
eighteen railroad systems one big steam
ship company. thirteen industrial "omhi-
nations. seven banks. three telegraph and
cable companies. several great insurance
companies and innumerablc smaller cor
porations. The total capital of these COM
binations was greater than the national
debit Of any country in the world; twice
the debt 81 Great Britain. The aggregate
net income Of all the Morgan corporations
was probably equal 10 the public revenues
of any of the great governments OF
Europe. Besides ms own private banking
house hero and its branches abroad Mr..
Morgan largely controlled the National
Bank Of Commerce I'm this city. Of which
ne was q cc-president FOR a number OF
years retiring IN 1909
IL was in Is, that Young Morgan re-
turned from Germany. at tho age of TWEEN
IS. and began work as an employe Of the
private banking house Of Duncan. Sher-
man & 60. only three years later he was
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01
FOREHEAD OF A THINKER
AND JAWS OF A FIGHTER

OF j. T. Morgan the fnancier and his
achievements all the world knows Few
have been more widely feared and yet
more generally trusted BY the general
public he was little liked and much
abused But with Morgan. the man, the
intensely human lover Of the good things
of life, few were acquainted. Those who
met him only IN business way saw a
man rough. emphatic and repellent, mac
cessible as a car when he chose to be-.
known as the worst man in New York 10
meet in an interview. man who be-
leved absolutely in himself. and appac-
entity never questioned the correctness Of
his method. His friends knew him as a
simple, unaffected companion, an inter
,csting conversationaiist with a keen Wit
and a genial humor
Physically Mr.. Morgan gave the impress
sion of great power under perfect mental
control. He had the thick neck and
chest heavy shoulders and square jaws
OF a fighter, and the high. fine forehead OF
y ScnOltT. Ills EYES WIZ h''n anu hf''h ~
under shaggy brows, and his nose was
prominent. He wore a close cropped mus
tache. Despite his size, he was nervously
active. His well known features lent
themselves readily to the caricaturist' ana
he had a sense of humOr that allowed him
10 enjoy really good specimens of that art
Mr.. Morgan had his share OF attacks
by cranks. in 1906 man was arrested
for mailing an incendiary placard 10 the
door OF the Offices AT Broad and wall
street and scattering copies Of the at
tack broadcast That same year woman
who said she was Mrs Ellen Barbara
Williams. n friend OF Lord Suiield, of
England. entered the Morgan Offices and
dourlshing a revolver, said she would
shoot the head Of the firm on sight, de-
riaring she had been robbed Her IN
tended victim. however was in Europe at
the time.
Enormous as was his income, II was
small IN comparison to what ho might
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

Mr Morgan. unlike many fnanciers'
had behind him no traditions OF the
stecrago His family was one Of the old
est of Puritan New England. Nor did
me began life on The proverbial "S3 a
week job" Ills father left him SO
cN00oo Besides wealth, ne inherited i'm
portant ban.ing connections. A German
university Equipped him for his work.
Yet. with al. that in him were the quail
ties Of the self-ma.e man. and by his own
efforts he travcrs-d relatively as many
rounds Of the laCxer as did many other
nuanciers who began with nothing.
The Morgan line in this country was es-
tablishcd with the landing Of Miles Nor
gan, Welshman, in New England, in
1886. This first Morgan became one of the
pioneers of Springfield, Mass. Joseph
Morgan. grandfather Of j. =. Morgan, was
a prosperous farmer and tavern keeper at
Hartford. Conn, who fought through the
Revolutionary War.
To his son, Junius Spencer. Joseph Nor
gan left. besides a splendid physique. a
good property on what is now Asylum
HI Hartford. Junius Spencer Morgan
accumulated fortune. 'lrst as partner
in the drygoods business with Levi Z.
Morton and later as an associate Of
George Peabody. He married Juliet Pier
pont daughter OF John PierpOnt the
poet preacher. and II was from this
grandfather that their son. John Pierpont
Morgan, derived some OF his striking
characteristics.
The sturdy old poet was a famous fig
ure in New England history. HIS was
the stirring verse:
stand, The grounds your own. my braves
VIII We give II UP 10 slaves?
He was reformer. spiritualist and abo-
ltlonist. and strangely enough, IN view
Of his grandsons career. It socialist and
bitter opponent Of the entertainments of
wealth, He fought for his ideas with 4
fury and bitterness that finally drove him
from the Church From this grandfather
!. p. Morgan inherited his resolute com
batiN enesS, his high full fJrencad and
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

young man took scat on the board
o. directors OF large marine insurance
company one day nearly half century
ago His rich fathers influence with
the companys president had won him
tho place. For year the beginner IN
finance faithfully attended the directors
meetings. but never so much as opened
his mouth except to vote. Then lie was
dropped. The insurance president told
the father that nothing could be done
with the boy. who seemed to take so
little interest in the business. While his
fathers friend was thus pronouncing the
doom Of his career the son was already
quietly laying the foundations for his
first railroad consolidation. which ostab-
lshed his standing in Wall street as The
only man who ever got the better of jay
Gould.
Thus did John Pierpont Morgan make
ms entry into the realm Of finance. OF
which he was destined 10 become n SUI
prcme head. II was a debut character
istic Of all future acts Of the sphinx
Of Wall street" heralded by no trumpet
hlsre. guided by no counsel save his own
with Judgment inscrutable. swift. sure
Thus he worked with all the persistence
and concentration OF keen. highly
trained mind until he reached the sum-
NIT Of a career Of power unparalleled I'D
the world Of finance.
That control over men and money was
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

friendly terms. reorganized the West
Shore, reorganized the Philadelphia &
Reading and would have prevented the
insolvency of the Baltimore & Ohio had
it net been for the violation of one Of the
agreements made with him by outsiders
He also reorganized the Chesapeake g.
Ohio and the Northern Pacific and the
Eric.
Mr. Morgan had a fine contempt for
details of his business One day. i'm tho
Federal Building lawyer cross-cXam-
ined him about the purchase OF sl5,90o, 900
of Northern Pacific stock In 1901.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01
When Frst He Became Corporation Director
He Seemed to Take Little Interest
in Business.
GOT BETTER OF JAY GOULD
Creation Of Steel Corporation Reorganization Of Erie Of
the Southern Railway and Of Northern Pacific and
Purchase of I. c. and Stock in 1907
His Outstanding Undertakings

tho keynote OF Mr.. Morgau's life. y dozen
mon i'm this country comparatively M
known 70 the public were Weather than
ne. They were slaves of their fortunes.
lIc commanded his wealth, and that of
others as well. They without their money
would have been uobodieS: he was only
incidentally man OF wealth. Had he
lost II the stature Of the man would have
been in nowise reduced His private
fortune has been variously estimated at
from $4,000, 600 to S9o00rHH. At the height
Of his power he controlled 10 less than
g. 900. 10000 He has been described as
the most 'pcrvasive" man in America,
one whose dominating personality per-
meatod nearly every phase Of the nation s
life. Commerce. art, literature. philan-
thropy, sport. socety-all had come un-
der his influence. Nor was this prestige
confined to his native land Kings ana
empcrors and even the Pope at Rome
were wont 10 call him IN consultation.
When he landed IN England on one OF
his many visits so apprchensve was
Threadnecdle Street Of his power in the
financial world and OF the effect which
his sudden death might have on the mar
ket that certain brokers to protect them
selves applied to Lloyds for insurance on
his life paying premiums at the rate OF
$50 on the thousand for three months
II was this power that made the Stcol
Corporation possible, that brought about
the reorganization Of the Erie, tho south
crn Railway and the Northern Pacinc'
that stayed national panics and brought
men like John j. Rockefeller to place
their wealth in his hands, 10 do with 1t
I. .-.rr.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

and big black cigars but enjoyed all IN
moderation. Public dinners he sometime
attended. particularly those of the New
England Society. whore be- WAS occasion
ally caught joining 30 the singing. lic
rarely made q speech lie was q member
Of many clubs. hut too busy 20 frequent
any Of them.
1t was AT the exhibitions ri the Metro
poitaH Museum of Art. OF which Nr
Morgan was So louc president ihIt Ho
shonc socially. There be- wa 300 H.- 'ic-
ment. laughing with deep. rich musical
laugh pattiuG old friends ON the back.
now word OF German TO % prominent
member of the ficdcrkranZ. now phrase
Of excellent French to am artist from
Paris and genial greeting O." strau-
gers. who would depart to rclat" rroudlt
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

How much did that stock cost, Mr.
Morgan" asked the lawyer.
Il don't know
well. about how much did IL cost"
Haven't any idea
How much did your firm mako out OF
IT."
81 cont know"
well. did you make 81 ,o00. 900 or s1o,-
900, 0O0?"
81 tell you don't know. ! don't attend
TO details ! said. Buy it Steele knows
about the details. hc'll tell you about
that"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

that they had shaken hands with J. =
Morgan.
o.. wa. 40 enthusiastic. churchman 70"
wears hc was "a Vostryman iu St Goorg" .
Protestant Episcopal church, in StuyNc-
san. square and wae an intimate iriond
and helper of IFS former rector tho Rev
pr RaIu-ford llc took an especial in
tor,st iu th. boys OF tho church. and
helped devise means keep thcm of the
street and teach them trades. Sometimes
ho attended thc evening sessions Of thor
club and talked 10 them Two OF hs
pb.authropics were tho establishment
at cost ~ over t""0'". Of the Ncw
York Trade School on th' upper East
Side. and the founding of smaller lrado
school ln connection with s. Georges
Church
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01

for the promoter when the United state
Steel Corporation declared dividends on
its common stock i'm 1906 once more be-
could boast that he had stood by M
company
II was i'm 1873 that Mir Morsan frst
came TO the rescue OF the United state
government In that year his iirin loinin-
with the Rothschilds and August bei-
mont. financed the refundins operation
bv which was noated loan Of f29l"p"'
of United States per cent bonds, the
The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-04-08
MAYo.CLAxToN WEDDING.
Southern Society Attends Nupt'als at
tho National Capital

Washington, April S.--Southeru so
Cicty Ia the national capital Is much
Interested in the wedding Of Miss
Claire CiaXtcn daughter of the United
states Commissioner of Education and
Mrs. philauder W. ClaXton, and Dale
Redmond Mayo, jr. of Knoxville
Tenn The marriage will take place
tomorrow evening at Epiphany church.
the Rev. Randolph II. Mckim ofliciat-
ing \ large reception AT the Claxton
home on Connecticut avenue viii fol-
low the ceremony at the church.
\ number of guests from Nofth
Carolina aud Tennessee are here Tor
the wcddine. The brides attendants
will include Mrs. Max Tull Payne of
Greensboro, y. G, as matron of hon
on. aud Miss Rcbccca Cushman OF
Asheville. n. G.. as maid of honor, and
the Misses Elizabeth and Helen ClaN-
ton. sisters of the bride, as brides
maids. Mr. Mayo will have Warren
Converse of Chattanuoga. Tenn. as
his best man.