El Paso herald. (El Paso, Tex.) 1901-1931, 1914-05-02
Morgan Inherited Fortune
His Father. Junius Spencer Morgan,
Financial Wizard, Formed Foun-
datiOn Of FaniIy's Wealth.
. MadIson G. 80
.HN PIERPONT MORGAN was

TOHN MORGAN was the
greatest financier Of modern times.
- His house outrivaIed that Of Roth
schiid- His beck or nod regulated the
stock markets OF the worlu- He con-
UrOled panlcs and could have made or
uumade governments He died worth
over SlOg, 0Og, 600, and he spent mil
lions in art and bricabrac gathered
from all over the globe. Yet 1t was not
John PierpOnt Morgan who laid the
foundation Of the Morgan milliOns-it
was his father. Junius Spencer Nor
gan
The Morcans have been In this coun-
try for a long time The family had a
prominent part in serulng western
"Massachusetts- The founder OF the
American branch OF the AOrgans came
TO this country in 1895 from England.
he was Miles Morgan who was born
up in the north Of England IN 1015. He
arrived in Boston, but did not settle
down there He formed one OF a com
pany which, under the leadership OF
William PinchOu, founded the town OF
Springfield In the-aLlOtmeUL OF lands
Miles Morgan received a plot on which
he built a homestead which remained
in the possession OF his descendants
A Financial Wizard.
Junius Spencer Morgan. the subject
OF this sketch, was born at Springfield,
April IA. 1913. and died at Monte Carlo
on April s, 1880 His father, Joseph
Morgan, was a farmer. Junlus Spencer
was educated at Hartford, ne just got .
common school education. He was
eager for a business career, but he
could not find a suitable opening in
Springfield. He went TO Boston and
secured a clerkship in the banking
house of Samuel WeleS- HIS III
were light and so was the salary, but
he remained there until he learned q
good deal about the banking business
In 1884 he left Boston and secured a
position IN New York with the bank
ing firm Of Morgan Aetcham and com
pauy- But he found there was little
money in being tied down TO q desk for
eight hours a day, SO he only remained
UP bank clerkinE- lie had saved a
couple Of hundred dollars, and back he
went to Hartford and entered the dry
foods store Of Howe, Mather and COM
pany as a Junior member He pleased
the other partners as the firm did a
fair trade he made money, enough TO
warrant him in marrying the minister's
daughter In a short time his lnflu-
euce in the firm increased. Howe
dropped out and IL became Mather,
Morgan and company Morgan gave
his time and attention TO business and
trade naturally increased
Removes TO Boston.
Then he went TO Boston and became
partner In the firm OF BeeDe and com
pany, which changed 10 BecDe, Morgan
and This became one OF the
largest and most influential houses in
the United States. Morgan mad made
his name as a leading merchant IN
1893 he went TO LD-44DAs hLcEe Ms
reputation as a business man mad pre-
ceded him. There he was invited 10
Join George Peabody the philanthropy
isL in a banking business. Morgan was
wealthy. He had not forgotten what he
learned with Welles, of Boston. de
threw in his lot with Peabody, became
his partner in 1854 u for 10 years
they both carried on a most successful
business. negotiating loans financing
companies and carrying out great imam
ciaI transactions. Morgan was a mil
IOnaire-
Peabody Finally Retired.
In 1864 Peabody retired, WHEREOF
, Morgan established the great nanci
house Of Junius Spencer Morgan anc
which in his lifetime became
one Of the largest banking houses II
the world. and which under the man
agement Of his son John Pferpont MOT
gan. grew to such enormous pEopol
lions as 70 eclipse COutus and holn'
schild. This was how the Morgan NIL
lions piled up. Junius Spencer Morgan
was financial wizard. but he was pea
at the game by his illustrious son
The old man died suddenly at Mont
Carlo. Besides ]. p Morgan, ne NAG
another son. who died In infancy ant
three daughters, Sarah Spencer 4lor
gan. Mary Lyman, who married waiter
Burns, and Juliet Pierpont Morgan