The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1913-03-31

attributed Morgan's breakdovn
LEM 10 smotlon caused by the investi.
gallon carried out by the Pujo
.,.n ltIee nn at Washington into
tne.s Inc opefauons OF the "moncy
nulienns Showed End Near.
frequent bulletins were fssued du,<
Ing the morning showing that his con-
dition rapidly was growing wor.. o,a
by IL o'clock the physicians had e,vaS
up an nope. When death was seen
approaching, Drs. Bastianelli and mir
on iorced Morgan's son-in.law ana
daughter. Mr.. and Mrs. Herbert r.
Satterlee, and Miss Hamilton, who
nave been inconstant attendance. to
leave the room. w
toward the end. the financier show
ed MS suffering only by a movements
OF the right hand. Otherwise he SHOW
ed no sign Of vitality, except by q. con.
tlnued heavy breathing.
Morgan was unable to assimilate the
artificial nourishment administeraS
during the morning. and his physical
weakness required extreme heart ton
les to be injected, but these had no
Four trained nurses were in attend
ance besides Miss Hamilton and three
physicians. ~-''e1
NJ During the morning George Post
Wheeler. secretary Of the American
embassy, called to make inquiries on
behalf Of Ambassador Thomas
OBrien. and was told that Morgan
nag collapsed in serious condition.
from the arrival here. the Saterlees
reared that they had made mistake
IN IN bringing the financier here instead
OF taking him to the quiet Of his home
nLondon. Gables of inquiry regard
ing his health and expressing affection
was received from all parts Of the
world today.
Ten Millions to Son.
Young Morgan was left ten million
dollars by his parent and also impor.
tant banking connections.
No man Of recent times has occu.
pied more prominent place in Ameri-
can financial history than John PIER
pont Morgan. He was in the banking
business for more than half century.
and during the latter years Of his life
ne was unquestionably the financial
dictator Of the United States. When.
panic seized Wall street in 1901 during
the struggle for the control of the
Northern Pacific railroad it was Mr..
Morgan who came to the rescue.
Again, when in the fall Of 1907 the
Wall street panic was at its height,
lively turned to Mr.. Morgan for aid
and advice. He needed the appeal.
and within forty hours created a pool
Of $4O.000,0O0 and saved the nation
from what seemed to be panic that
would topple over many Of the finan-
cial pillars of the country. Aside from
these two incidents Mr.. Morgan prob
ably will be chiefly remembered for
the part he took in floating the United
States Steel n0rnnratiOn 1,i1lo~%
decline in the securities of the steel
trust during the depression of 1903
'04, and the storm of criticism that
broke forth from the thousands Of in
vestors in the United States and in
Europe who put their money into
these securities. had been a thorn in
Mr.. Morgan's side. and his chief am
bition in the years that followed was
to see the steel securities in such posi-
tion in the market that his most bitter
critics would be forced to concede that
he built the great trust on a substan-
tial foundation.
Was Without Parallel.
AS an example Of business capacity
of a remarkable kind. Mr.. Morgan was
almost without parallel. He was as
capable as any of the Rothschilds in
the money line and his achievements
as an industrial organizer surpassed
any similar feats performed by other
operators in the united States or
abroad. Among the concrete results
of Mr.. Morgan's financial genius were
the reorganization of the Buffalo and
West Shore. and its lease to the New
York Central: the reorganization Of
the Chesapeake and Ohio: the rear
rangement Of the Great Southern and
the reorganization of the Erie. His
influence was also materially felt in
the Pacific system. Some Of the
achievements which he made incl
ness are the present efficiency of the
Japan and China carrying trade, tho
consolidation of the Western Union
Telegraph and the American Bell Tel
ephone company. the combination of
the coffin producing and steel indus
tries and the launching of the Edison
process Of magnetic iron ore separa-
ton.
Mr.. Morgan was born at Hartford,
Conn.,, April II, 1887. His early
schooling opportunities We're the best.
He graduated from the Boston high
school and was a student in the Uni
versity Of Goettingen. Germany. His
father was financier Of prominence
and it was not difficult for young Nor
gan to get a start in the business
world. After his return from Ger
fathers banking business. AS his ex-
perience in the business grew his faith
er wisely placed upon his shoulders
more and more Of the RMS RESPONSE
bilities He was sent to London as the
firms representative and there. in the
counting room Of Morgan & Peabody,
he obtained a thorough grounding In
the exceedingly complicated subject
of foreign exchange. When he re-
turned to New York he again enteged
his fathers banking firm.