The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1913-03-31
HIS INFLUENCE
ALMOST UNCANNY
Morgan Ruled Money Market Like a
Monarch and Was Followed
Blindly and Will
ingly.
4 WAS SON OF "A BANKER
Came to New York as Agent for Faith.
er and Built His Great Rusi-
ness In 1895 Out of
Nothing.

IUnited Press Leased Wire Service !
NEW YORK, March 31.-For years
the mighty name of Morgan has DOM
mated Americas finances. The smile
of the monarch made unknowns money
princes. His frown unhorsed market
leaders. Standing out in the memor-
les of all Americans today are many
incidents in the Morgan career, but
chief is the way his gruff declaration:
This country's affairs are sound"
ended the financial panic of the Roose-
welt administration in 1907, when it
was at it's high water mark and banks
We're collapsing like houses of cards
throughout the country.
This was really the last big victory
Of Morgan. After normal condition
had been restored he sent for his
son, j. P. Morgan, Jr., and began the
4 transferring of the burden of his af
fairs to younger shoulders. And il
was not the imperious emperor o.
1 former years that withstood the I'm
termyer grilling before the money
trust inquisitors In Washington last
winter, but an old man, venerable
man. who showed by his every action
that the burden of years and the ire
mendous activities that had always
necessary toll And soon afterwart
Morgan started for Europe. 1t was tt
be his usual vacation it was CAREFUL.
explained. but the house of Morgan
realized that 1t was the journey tt
death.
Born at Hartford, Connecticut, Apri
II, 1887. Morgan differed from man,
of the financiers that have made his
man, Junius s. Morgan. His father
banker before him, the younge
Morgan attended high school at Bos
ton and then had three years of UNI
versity course at Gottingen, Germany
At 81, he entered his fathers ban
and after learning the business fror
the ground up, he was sent to Ne6
York as his fathers agent In 1871
he allied himself with the powerfr
banking firm of Drexel and Compan,
of Philadelphia, and In 1895, tn
house Of Morgan and Company wa
| formed 1t was not corporation, BIT
| partnership. and in 1t were eleve
partners, all specialists in their lin'
/ dustrial corporations, consolidate
4 banks and trust companies, but wer
Il oil powerful out of practically notl
ing and in very few instances di
failure overwhelm any interest thf
bore the Morgan 20. K"
II The secret of his control lay in h
h personality. Morgan was man I
H tremendous passions He ruled. Thos
II who disputed that rule must fgh
II And few who fought survived. n
H influence was almost uncanny. Wis
Il men bought and sold stocks blind
| on the Morgan say-so. He fougl
II union labor whenever that issue W;
II raised In any concern he was interes
II ed IN. And he injected water in
II securities that were later unloadt
Il on a gullable public as no man ev'
II did before.
Il Morgan utilized the panic OF 1907
II get the chief rival Of the giant ste
H trust. the Tennessee Coal and lrc
i company. out of the way. He Sc
\ Representatives 20 President Roos
II welt and the latter approved the me
II ger which took the 7. G. and I out
| the market. Morgan reorganized maj
railroad systems and all paid tribu
/ to himself and his followers. t
Readfng, the Northern Pacific, :
II Southern, the Erie, the Lehigh v
II ley, the Hooking Valley, the Mono
\ were a few of these and he was
II ways the power behind the Wand
| bilt lines, the Louisville and Mas
II VILE and the Atlantic Coast lines.
II Morgan promoted the United Stat
II Steel company. but had to pay va