The Bridgeport evening farmer., 1913-03-31
BUSINESS CAREER
Known as Sphynx of Wall Street Morgan Was Feared, Yet
 Most Generally Trusted

John Pierpont Morgan started his bus- mess career half a century ago on the
 board of directors of a large mari
 time insurance company. He secured the position through the influence of a wealthy father For a year, young
 Morgan attended the directors meet ngS but never opened his mouth ex- cept to vote. The president of the company told the elder Morgan that nothing could be done with his son. l who seemed to take little interest in bufsness. John Pferpont however, all
 the time, was laying his plans for his 1 first railroad consolidation, which, when acomp plished established his standing in Wall street as the only
 man who ever got the better of Jay Gould. The president of the inSur- ance company had mistaken facfturn- ity for fndolence. The sobrfquet of
 s'Sphynx of Wall street, later was the l appellatton applied to the man who at first was believed to have been without business acunlen but later be- l came the supreme head of the fin ances of the American continent.
 Morgan's control over men and
 money was the dominant keynote of
 his life. Others, perhaps, were veal
 thier than Morgan but he commanded
 his wealth and that of others. At the height of his power he is
 said to have controlled nine billion dollars
 In addition to .sinance, art, Htera-
 ture, philanthropy and sport an=-ca,rne
 under his influence. His prestige was
 not confined to his own country-kings
 and enperors and even the Pope were wont to call him into consultation MT. Morgan came from an old 1Puri- tan New England family which dates back in this country to 1636. He was born to wealth. His father, JuniuS Spencer Morgan, left him $10,Ooso00 and l.-1- -,--f-
 ant banking conections. J. S. Mor- gan had accumulated his fortune in the
 drygoods business with Levi P. Nor gan and later as an associate of Geo. Peabody, merchant, banker and phil anthropist.
 J. Pierpont Morgan was born April IT, 1887, in Hartford Conn. As youngster his tendency to write poetry gave him the nickname of Pipe i When he was 14 Morgan was sent to Boston, to the English High school.
 He showed a particular bent for math- ematics but had no gifts indicative Of i unusual mental power. Probably his first attempt at finance took place in Boston. 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
 l whats this for?" asked the teach CT. Fl gave you Just enough IO Olty
 the erasers at the price I have always paid for them"
 sOh,'' replied young Morgan, tI ! went around town until I could find a place to buy them at wholesale For two years after graduating from the Boston High school, Morgan was a student at Goettingen, Germany At 1 21 he embarked upon his career as banker
 Of J. P. Morgan, financier, and of ,II 6
 Few men have been more widely fear ed yet more generally trusted Those who met him only in business way saw a man, rough, emphatic and re- pellant, inaccessible the emperor l of Russia, when he chose to be, known as the worst man in the world to in 1 terview and as a man who believes absolutely in himself and apparently never questioned the correctness of his methods His friends, however companion, an interesting converse i tiona1ist with keen wit and genial hu- i mor
 l Once a woman asked him why he
 kept on acummu1ating money when he already had more than he needed. tI do not love money Mir. Morgan | is said to have replied, ttbut I do en- 1 joy the excitement, the fun of making l it''
 Business was not all to the life of I at short and at the close of his business day he left his office and his business behind him. Woe to the person who then approached him on business bent.
 He cared little for society but was fond of a good dinner in congenial company, of rare wines and fine cig- | ars Wines he partook of with mod eration. To cigars he was almost slave.
 MT. Morgan was a devoted church man and for years had been a vestry- man at St. Georges Protestant Epis- copaI church in New York. The collection of books and works of art was his chief pleasure but he had numerous other diversions. His favorite sport was yachting and his team yacht Corsair is one of the largest and more sumptuous private
 vessels afIoat. He was fond of dogs and kept a. large kennel at his country home, Ora gmore, at Highland Falls, N. Y
 Perhaps the most dramatic incident in the life of the financi was during the panic of 1907. On the stock ex- change not dollar could be borrow ed at any price. The great banks
 were cIinging to every cent in their
 vaults New low records were made
 in the issues of all prominent stocks
 On Oct. 2 came the climax. There