The Brattleboro daily reformer. (Brattleboro, Vt.) 1913-1955, 1913-03-31

cy, notably in 1STG-77-7S, when his firm
was prominently identified with floating
government bonds, and in 1885, when he
supplied the United States treasury with
S64 900. 600 in gold. for bonds, to restore
the normal surplus Of S1O0,O00,00O.
In 1871, with Anthony ,. Drcxel Of
Philadelphia, he formed the firm of Drex-
q, Morgan & Co, which was for many
years powerful influence IN resisting all
forms of stock-jobbing and chicanery; was
a tower Of strength in times Of panic and
financial distrust, and leader IN some
of the greatest financial and corporate
enterprises in the country.
BY the death Of Mr. Drexel in 1893 Mr.
Morgan became the senior partner, al
though for many years previous he had
directed the firms business, and on Jan.
!, 1885. the style became J r. Morgan
x Co. Mr.. Morgan was also the head Of
the firm Of j. :. Morgan x Co. of Lon
don; Morgan, Haries x Co. of Paris. and
DTexel x Co, Of Philadelphia
Mr.. Morgan's reputation enabled him
to command a larger capital than any
other man in the world of business.
He entered on his career as an organizer
Of railroads in 1869. when he obtained
control Of the Albany 4 Susquehauna.
and in the work OF rehabilitation made
a marked departure from the policy of
Jay Gould. In 1888 he successfully nm
dert0Oll the affairs Of the Chesapeake and
Ohio railroad and the Big -Four system;
in 1891 of the Richmond terminal which
he consolidated with the Southern system:
in 1895 of the Erie and Reading railroads.
which he raised from imminent danger
Of collapse TO renewed prosperity: in
1886 Of the New York and New England.
Z Taafn hfa F..r 4 Al
New York, New Haven * Hartford: in
1877 OF the Northern Pacific, which, with
the aid Of German capital and "a pooling
OF opposing elements, he placed on firm
basis, and later still Of the Baltimore K
Ohio.
Among other large operations of Mr..
Morgan was his purchase Of immense
blocks of New York Central stocks IN
1897 as a means Of more firmly ce-
menting his own and the Vanderbilt
interests In that vast system, which
he further served substantially in the
consolidation with il Of the West
Shore railroad In 1855 and the New
York and Northern in 1898. His Cener-
alship also was seen in the extension
and combining Of the railroads TO the
coal regions Of Pennsylvania. and in
I the practical management Of several
transcontinental and gulf lines, the
West End Railway company of Boston.
the General Electric company and 9th
I or big organizations.
In the summer following the govern
ment bond issue of 1895 he personally
effected the placing Of a large number
Of securities in Europe, becoming an
important factor in the return OF
prosperity and financial confidence.
. a. az Ntref-n
I palian, vestryman and warder of st.
George Is church in New York citv. lie
+ was a generous contributor TO the
charitable and missionary activities Of
his church. Among many worthy OBJ
lerts benefited by his munificenre are
\ the Lving-in hospital Of the city Of
] New York, 10 which he gave a site
I and Sl,ue0.O00. and the New York
trade school. endowed bv him with
I 100000. lie also made large gifts 10
I the Metropolitan Museum Of Art. the
J American Museum Of Natural History.
the Bronx botanical garden and the
Hartford public library. His steam
yacht, the Corsair. renamed the
Gloucester. was placed AZ the disposal
Of the United States government dur
ing the Spanish-Ameriran war.
Mr.. Morgan was member Of many
clubs. lie married i'm 1860 Frances
i Louise. daughter of Charles Tracy. a
noted lawyer Of New York They have
one son. John Pierpont Morgan. ir
who Is associated with the Morgan
banking interests. and three daughters
Mr.. Morgan was owner Of some oi
the finest collections Of pictures. book.
and curios in the world, including the
Gainshorough paintings.
4 dramatic incident I'm Mr. Morgan Z.
career took place in 1907. when ~
poured S25,0e0.000 of pool money into
The market and STAYED 2 panic
The stock market bore up well tolas
under the strain Of the news Of ths
death Of the greatest fuaneier in III,
world. The opening prices showed
slight decline. but the market ralliei
quickly under supporting orders.
Rome. March 3l-Nr. Morgan Z,