Evening journal., 1913-09-06
NEW NEWS OF YESTERDAY
An AneCdOte Of the Late
J. P. Morgan
By Holland.

The late j. Pierpont Morgan gained
and deserved the reputation of being
man Of great taciturnity, at least
50 far as his business life was con
cened, and it was almost an axiom in
the newspaper world that Mr.. Morgan
would never grant an interview or
evince the slightest interest in any
thing which had been written about
him. good. bad or Indifferent.
But It is the case with all the mer
who have achieved greatness OCCASION
ally to permit themselves to indulge
in some exceptions from the general
rule of conduct in business which
they adopted early in life and on the
whole consistently adhere to. This
was true Of Mr.. Morgan in one in
stance at least in which / have per
sonal knowledge
Some four or five years before Mr.
Morgan's death was asked to assist
in the preparation of what was ex-
pected to be a somewhat extended re-
view of Mr.. Morgan's business career
It fell to my lot to study the relation
Mr. Morgan bore TO the vast trans
actions which resulted in the absorp.
tion bv the Nanderhlts of the entire
West Shore railroad system, about
1854 The West Shore railroad was
built by a powerful financial syndi-
cate ostensibly in good faith and to
take advantage of the enormous traf-
fc opportunities which had been Gre
ated az Buffalo For its entire disance
it paralleled the New York Central
system from New York to Buffalo.
There seemed 10 he expedient rea-
sons why the Vanderbilt party should
buy and take into its own family the
West Shore Railroad Company. Mr.
Morgan was authorized TO conduct and
finance the necessary negotiations.
In order that 7 might be thorough
" we'll informed on the part Mt.
Morgan bore in this transaction.
called upon Senator Chauncey NJ.
Depew, and found him willing 10 tell
the whole story.
"The absorption by the New York
Central. or by William II Wander
bilt, which is the same thing, of the
West Shore railroad system is one
OF the most dramatic stories Of
American railroad life" said Senator
Depew."
"Mr Morgan's part in this trans
action was | have always thought.
one Of the most brilliant of his
achievements He had not at that
time gained the extraordinary repu-
tation which a few years later he
secured"
Senator Depew then narrated to me
in great detail the story OF the
strategy and generalship Of Mr.. Nor
gan's triumphant handling of tsis
proposition. II is too long a story to
be retold here. After he finished, the
senator said that he had told me
the story for my own information,
but that he did not feel justified in
permitting me to publish it excepting
few details OF which there was
already public knowledge. He ex-
planned TO me that his reason for
this position was the probability that
Mr.. Morgan himself would not care
to have the story published.
Mr. Morgan is the most reticeni
man In the business world with
whom | have ever been thrown in
contact" the senator said. And foI
that reason I doubt whether he would
care to have the story told, credit.
able as II was to him"
paid due heed to Senator Depewl
mentions and wrote the story of tn,
West Shore transaction briefly, mar
rating no more than the facts whicl
had already been of public knowledge
Later the proof sheets Of the ar
ticle were shswn to Mr.. Morgan Jus
before he was departing for Europe
He promised to read the proof sheet
and to say next day whether tn
facts had been accurately stated. o.
the following day, only three or fou
hours before be took steamer 70
Europe. Mr. Morgan said: THE fact
I'm this article are correct. but tn
story hasn't been half told It woul
make a great deal more interestin
story II the complete records of tn
various negotiations and transaction
by which the West Shore was brough
over 10 the New York Central wer
made public"
But, Mr.. Morgan" he was toll
that complete story was unwritte
simply because there was gray
doubt whether you would be willin
to have It told since IL would r.
dound so much to your credit"
Mr.. Morgan simply smiled. chuckle
little and then handed back th
proof sheets without another word.
Copyright. 1913. by f. J. Edward
All rights reServedl