New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-04-01
MORCAN'S SON WORTHY
SUCCESSOR TO FATHER
New Head of Great Banking
House Has Made Splendid
Record in Business.
YACHTING is HIS HOBBY
Rising Figure of the Financial
World Played Important Part
in Settling Crisis of
Panic of 1907.

j. /. Morgan. Jr, the probaDle heir
To the greater part OF his fathers vast
estate and the new head of the grea;
Morgan banking house, comes into his
fathers place i'm his forty-sixth year.
In facial appearance. bearing, build and
manner OF walking he greatly resembles
his father. He possesses the elder Nor
gan's grave demeanor. his prompt and
forceful decision and his contempt OF
trivial details. He is the only son.
there being three daughters, two mar
ried and one unmarried. He also in
herits his fathers love OF yachting and
is jealous and discriminating art col
lector.
Mr.. Morgan. jr., or Jack" Morgan.
as he is called by his friends i'm Wall
street, was born in New York City IN
1867. He was educated in private
schools and at Harvard, from which he
was graduated in 1889.
Immediately after his graduation he
entered the banking house Of Morgan,
Grenfell & Co, Of London, 10 learn the
business Of his father. Since that time
he has been trained under the guidance
of the elder Morgan for the place he is
now called upon to flll. He has taken
a prominent part In many of the great
enterprises Of the Morgan company.
When this government made the pay
men: of s40000000 to France for tho
Panama Canal, Mr.. Morgan played an
important part in the transfer. and won
the respect Of foreign financiers for his
skill and tact in that difficult trans
action.
Arranges Russian Loan.
Mr.. Morgan, jr.. was sent by his
father to Russia in 1905 10 make nego-
tiations for the great loan which that
country WAS taking from the Morgan
company at that time.
During the panic of 1907. when the
Morgan interests were at war with
Hartman ana the STANDARD Oil Com
pany over the Northern Pacific, he
was n leading factor in the settlement
Of that crisis II was he who raised
from his fathers shoulders at that time
many Of the burdens which the elder
Morgan undertook i'm order TO allay the
pane and restore public confidence.
At the coronation Of King Edward he
was appointed first secretary of the
special American Embassy. I'm all these
situations Mr.. Morgan has proved HIM
self "a competent successor 10 his dis
tnguished father
He married Miss Jane Norton Grew
in 1890. They have four children. Two
sons and two daughters. The eldest
son. J. : Morgan i a student at Har-
ward. and the eldest daughter will We
a dcbutante in a couple Of years
Mr.. MorC2n's home in this city Is q;
No. 23l Madison avenue. just across
the street from the home Of his father.
1t is filed with paintings and rare
works OF art. lie also mas "A residence
in London. at No. II Grosvenor Square.
His beautiful country place is near
Glen Cove Long Island. on piece OF
land consisting Of about forty acres
and formerv known as East Island.
He is listed as member Of the Iirrn
Of J. =. Morgan & co. in this country
ana Morgan. Grenfell ~ Co. Of Lon
don, and is 4 director in a large num-
Der Of various corporations. Although
he Is inclined TO shun publicity and up
20 this time has escaped the limelght
in the shadow of his father. he Is rec
ognizcd i'm the financial world as man
of strong convictions and real power.
The new head Of the Morgan house
is an enthusiastic yachtsman. s vas
#
York Yacht Club. he is owner Of ono q
the nine 3O-footers which are now be-
ing built 10y the Herreshons for mem
beers of that organization. For num-
Der of years he sailed a 3o-tooter, tns
Ibis Mr. Morgan has extensive ken
nels on his Long Island estate. whe'e
he makes a speciality Of breeding rex
ingese. many of which have been prize
winners. =.
He Is interested in various lines OF
public service and philanthroplc WorS
being a governor of the Peabody DO,
nation Fund in London and trustee y!
the New York Trade School From his
experience i'm foreign travel he mas OF
ten made helpful suggestions FOR clW ,
Improvement 10 the New York PUBIC
officials. 4 system of street openings
suggested by him in 1905 has resulted
i'm greater convenience TO the puouo
and a considerable saving 10 the city
Mr.. and Mrs. Morgan have been ACTIVE
in the social life Of New York ano
London. In the latter city. Mr.. MOT
ear Is member Of Whites, the 81
James and City of London CLUBS. IL
New York his clubs are the New VOTE
Yacht. Union. Metropolitan. Universe
~. Century. Harvard and Racquet an.
Tennis Although he Is member o.
.t.a,, -
egates the handling OF securities &c
other brokers and rarely appears OF
the floor.