The Washington times., 1913-03-31

financiers that have made history in
that he was the son of rich man,
Junius S. Morgan. The younger Nor
gan attended high school at Boston.
and then had three years of a uni
versity course at Gottingen. Germany
AT twenty-one he entered his fathers
bank. and, after learning the business
from the ground up, was sent to New
York as his fathers agent. In 1871 he
allied himself with the powerful bank
phia. and in 1885 the house of Morgan &
Co. was formed. 10
1t was not a corporation. but part
nership, and in II were eleven partners
all specialists in their line. 1t made
and unmade railroad and Industrial cor
porations, created banks and trust COM
panies. and in very few instances did
failure overwhelm any interest thar
bore the Morgan o. X.
Had Passion For Rule.
The secret Of his control lay in his
personality. Morgan was a man of
tremendous passions. He ruled. Those
who disputed that rule had to fight
And few who fought survived. His in
fuence was almost uncanny. Wise men
bought and sold stocks blindly on the
whenever that issue was raised in any
concern, in which he was interested.
Morgan reorganized many railroad sys-
TENS and all paid tribute to him and
his followers. The Reading, the North
ern Pacific, the Southern. the Erie. the
Lehigh Valley, the Hooking Valley, the
Monon. were a few of these and he was
always the power behind the Wander
bilt lines, the Louisville and Nashville
and the Atlantic Coast lines.
Morgan promoted the United States
Steel Company, but had to pay a vast
tribute to get AndreY Carnegie out of
his way and to get the valuable Car
negie properties into the trust 1t was
billion dollar combination and its
stock was sold to the ends of the earth
on a promotion manipulation scheme
backed by the laAe James r. Keene
Then came the collapse and the ruin of
thousands Of investors.
But steel products could be marketed
and the company came back" so that
in 1905 dividends were resumed. This
was one of the happiest days In Nor
gan's life. for steel was his pet hobby
II was Morgan who effected the rub
Der consolidation and the General Elec-
trio merger.
No Change In Firm.
AT noon. following a conference of
members of the Morgan firm at the
Wall Street office. the following an
nouncement was handed out:
In answer to the many inquiries re-
ceived, ]. Z. Morgan & Co. state
that Mr.. Morgan's death will occasion
no change in the firm-that is, his
interests will remain and the business
be conducted as heretofore"
Mr.. Morgan's death was the one
topic Of general conversation. not
alone among the financial classes but
among the people generally who have
read and heard of the wonderful pow
er or the man. His name has so long
been associated with vast wealth. and
al the power and influence and in
dustry that wealth can buy. that there
Is probably not class Of people In
america, and especially in New York.
mote way felt his power and been
interested in his long Illness.
Messenger Arrives.
AT exactly o'clock this morning
messenger sped from the office of
the French Gable Company, direct 10
the home Of J. =. Morgan. jr, at 23I
Madison avenue. He wriggled his
way through the throng of newspaper
reporters who had been on watch out
side all night long, and delivered his
message. Fifteen minutes later an
other breathless messenger delivered
another message.
Only moment after the second
message had been received, Mr.. Nor
gan came hurriedly out Of his home.
Don't bother me now,r he cried TO
the newspaper men who were still
waiting confirmation of their belief
that the cablegrams had announced
the death Of the great fiancier.
A statement will be issued from
my office in less than half an hour"
said Mr.. Morgan. II have nothing to
say now.
He ran to the home of his mother,
four doors away. That was enough
to convince the reporters the worst
had come. He remained at the home
Of Mrs. j. p Morgan. sr, but ten
minutes. When he came out, he bore
all the marks Of strain and sorrow
of a bereayed and heartbrOken aon