The Daily Missoulian. [volume] (Missoula, Mont.) 1904-1961, 1913-04-01

estate.
j. p. Morgan, Jr., who has peer his
fathers understudy for years, is ranked
high in financial ability. He served
his apprenticeship in the London
house of Morgan; Grenfel & Co. He is
in the ~forties, and greatly resembles
his father in facial detail, build and
even in manner
Lik his father, he is quick at
reaching a determination on big
questions, brusque and intolerant of
small details.
HIS preparation to-take his fathers
lace in the business world has been
thoroughly worked out.
Philanthropy.
The extent of Mr.. Morgan's plilan-
throplc gifts never may be known
Probably his largest gift was 81, $780,
600 toward the building of the Cathed-
raj of st. John, the Divine, in this
city. For the rounding of the great
lying-in hospital, near st. George
church, of which Mr.. Morgan was a
warden, he contributed $1,3o0,00O
Harvard benefited by his munificence
to the extent Of 81, 500, 900. with which
was built the medical school in Eos-
ten. Trinity college was given $780,
900 for a library.
If 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 We're returned to tn, n.
Noteworthy among these, it is said,
would be the name of a jurist, WHO,
after he had ceased active work, lost
nearly his entire fortune in invest
'nents made, as he supposed, OF. the
advice of Mr.. Morgan.
As a patron Of art, Mr.. Morgan was
as famous as il the. world Of finarcc.
His Expenditures for art objects were
~Eoundless. she price nearly always
was a secondary consideration 70 the
possession Of art treasure. His cor
tribution 10 the METROPOLITAN Mu-
scum OF Art has been estimated to be
worth %oo,o00,00o. In his private n,u
scum, next to his home, are paintings,
tapestries, carvings, books, manu-
scripts, bronze and antique gold and
silverWare valued at many millions OF
dollars.
Among some. Of the objects Of art
and the prices Mr.. Morgan paid for
them are Raphael's "Colonna Ma
DONNA 100000; the ~Fragenard pam
els, depicting the love affairs of the
Countess DuBarry, $500, 600; set of
Gothic tapestry, $500, 900; the Pfungst
collection Of bronzes, 5000, 600, and
Gainesborough's famous painting,
| TInp l)DrhpGG " Of TAn,,nrrl;r TO-, ~,
$500, 900.
His Life.
John Pierpont Morgan began his
business career half a century ago
on the board of directors of a large
mercantile insurance He
secured the position through the in
~fluence of his wealthy father. For a
year young Morgan attended the di-
%rectors' meetings, but never opened
his mouth except .to vote. The pres
'dent of the company told the elder
Morgan th%at-nothing could be done
with his son, who seemed to take lit
tie interest in business. John Pier
nont all the TIME, was, laying plans for
his first railrpad construction which.
when accomplished, established his
III Slletl as lne only
man who ever got the better of Jaw
Gould.
The sobriquet of Sphinx of Wall
street later was the appellation ap-
Piled to the man who at first was be-
lleVeu 10 nave! been without business
acuineh, but later became the SUI
preiae head OF American finances.
Morgan control over men and money
was the dominant keynote of his life.
others, perhaps, Wehe Weather than
Morgan, but he commanded his wealth
ana that of others. At the height Of
his power he is said to have con-
trolled $4,000, 100000.
Born in Wealth.
Mr.. Morgan came from an old
Puritan New England family, which
dates back in this country to 1886.
He was born in wealth. His father
Junlus Spencer Morgan, left him $780,
100000 and he inherited Individual
banking connection. Junius Morgan
had accumulated his fortune in Tho
dry goods business with Levi P. Nor
ton and later as an associate of
George peabody. merchant, banker
and philanthropist.
~ -i'l Sdil was porn ADfI II
1897, in a brick cottage in Har,f ford
Conn. AS a youngster his tendency
to write poetry gave him the nick
name of Pip" When he yas IA
Morgan was SEN to Boston TO the
English high school. He showed ,
particular bent for mathematics, h,,t
had no gifts indicative of unusual
mental power, Probably his first at
tempt at finance tool place in Bos-
ton. The school teacher gave him
money with which to buy erasers.
Young Morgan was gone for a long
time. When he returned he handed
the teacher the erasers and also some
change.
What's this for?" asked the teach
er. J gave YOU just enough to buy
the erasers. I always paid that for
Them
oh" replied young Morgan, Il
went around until l could find a
place to buy at Wholesale
for W o years after graduating
from the Boston high school Mr..
Morgan was a student at Goettingen,
Germany. AT 81 he ON har Lad on bic