The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1913-04-08

of resources was table of capitaliza.
ton of all companies in which Mr.. Nor.
gan had influence.
Mr.. Morgan himself was a director
in but three important railroad sys-
tens. New York Central, New York.
New Haven and Hartford and Erie.
Erie was under his control but the
New Haven had Kuhn, Loeb & Co. as
fiscal agents and it was only as fiscal
agent of the Central and through asso-
citation with the Vanderbilts that Nor
gan's influence was important there.
He was not a railroad manager. he
knew nothing about traffic" he once
testified, but exercised influence In
railroading simply as banker
His Railroad Interests.
The Morgan firm was In control of
the Southern Railway and was infu-
entail in the Northern Pacific, the Bur,
Ington and the Atchison. Mr.. Morgan
was also regarded as the most influ
entail person In the Reading Lehigl
Valley and Jersey Central, and in tn.
anthracite trade generally. He assisted
In the financing of various transit and
tunnel lines In New York city.
The only other important Morgan
transportation company is internation-
al Mercantile Marine. one of the less
successful of the Morgan promotions.
The British government at the start
dealt the combination hard blow by
subsidizing the Cunard line and thus
keeping 1t out Of the combine.
His Son the Boss Now
J. T. Morgan, Jr.--Jack Morgan or
Young j. r.. as he has long been
caIled-is by no means a young man
or an inexperienced one. He is well
along toward fifty and has been en-
gagged In business with his father since
his graduation from Harvard. For
many years he has been head Of the
firms London house. But ordinarily
when his father was abroad the son
had general charge of the business
here, subject to the daily cables con-
stantly passing between the elder Nor
gan and his firm. He is the senior
member of the house now and, as was
his father, is the boss.
The new head OF the firm resembles
his father in appearance and in the
direct and lncisive manner of his work.
He is q Eyes and no" man. OF few
words, but of sure and prompt deci-
sion. Like his father. he gained his
earlier training in banking abroad and
supplemented 1t with long experience
here. Between the two men the only
observable difference has been that the
younger Is smoother or more suaye.
He has little of the brusqueness which
the father was wont to show In mo-
ments Of impatience.
Philanthropy Hidden In Ledger.
Mr.. Morgan's gifts and benefactions,
though incompatible with those of An
drew Carnegie and John ID. Rockefel-
Ter, were more numerous than has been
generally known. He was as reticent
regarding them as on any other per-
sonal or business matter. A great
many of his gifts never will be known
unless the knowledge can be extorted
from the keeper OF a private ledger In
which these accounts were kept.
Mr. Morgan's gifts to literature and
art, which were the most costly of his
public benefactions. are we'll known.
The largest single gift was S4,500,OO0
for the Cathedral Of St John the Di-
vine. The next was 81 1,35O.OOO for the
establishment Of the lying-in hospital.
near his fayorite st. Georges church,
of which he was long a warden. For
a new parish house and rectory for st.
Georges church he gave 100000 and
numerous smaller sums like 100000
to the Young Mems Christian associa-
ton.
In 1851 Mr.. Morgan married Miss
Amelia Sturgis. She died the follow
ing year. In 1865 he married Miss
Frances Tracy. who survives. They
had four children, a son. j. r. Morgan,
Jr.. and three daughters, Mrs. Herbert
l.. Satterlee, Mrs. William Pierson Ham.
ilton and Miss Anne T. Morgan.