The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1915-07-08

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vate library and gallery Of his father.
The home is filled with art treasures
selected with the same taste and fine
discrimination Of those Of his father.
Mr.. Morgan acquired membership in
the Metropolitan, University, Union,
Automobile, Brook, Century, New York
Yacht, Larchmont Yacht, Seawanhaka-
Corinthian Yacht and Colony clubs in
New York city and Whites, st. James
and City of London clubs In London,
but he has used the yacht clubs most.
His London home at II Grosvenor
square, which he has occupied for a
month or two each year, is often point
ed out to visitors to London.
Mr.. Morgan's favorite outdoor sport,
like his fathers has been yachting
He sailed his thirty-footer, the Ibis,
for many years. Mr.. Morgan's love Of
fine dogs is we'll known to fanciers.
His Pekingese spaniels have taken
many prizes.
Interest In Public Affairs.
Though very shy Of publicity, once
more, like his father, he showed many
times the courage Of his convictions
when convinced that it was his duty
to come forward. Police commission
ers and other public officials in New
York have had from him many per-
sonal suggestions gathered out Of his
experience in foreign travel. An in
stance was letter he wrote to Deputy
Comptroller John Fl. McCooey in 1908
making suggestions regarding a sys-
tematic system Of street openings
which saved annoyance to the public
and money to the city. He took large
part in directing the San Francisco re-
lief fund after the earthquake.
On Sept. ~, 1913, the state comp
troller's Office in Albany received a
check for $2,5OOOOO as the preliminary
inheritance tax for the J. P. Morgan
estate. The state comptroller had not
received even tentative inventory of
the estate, but the amount Of the pre-
liminary tax paid would indicate an
estate valued at about $62,OOO,OO0.
The check was received from Carter,
Ledyard & Milburn, the attorneys for
the Morgan estate. It was drawn upon
the banking house Of J. P. Morgan
& Co.
The Older Morgan's Estate.
The will of J. P. Morgan was offered
for probate on April p, 1913, by his
executors-J. P. Morgan, the son; Will
liam Pierson Hamilton, Herbert L.
Satterlee and Lewis Cass Ledyard. It
contained approximately 1000 words,
including short codicil, and was
drawn on Jan. 4, 1913 about three
months before the financier's death.
There were twenty specific requests
aggregating $16,565, 900, in addition to
years salary to each employee Of ].
P. Morgan & Co. Of this city and J. s.
Morgan s. Co. Of London; $1,000 to
each household servant not otherwise
provided for and $1,000 piece Of sill
yer to each member Of the Corsair
club. There were also requests Of an
nuities amounting to ST., $50 year.
J. P. Morgan was bequeathed $1,000
600 outright and all the residuary es-
tate. The two married daughters, Mrs.
William P. Hamilton and Mrs. Herbert
L. Satter]ee, each received 100000
In trust to be left by them to their
children. The third daughter, Anne
Tracy Morgan, was left $3,0OO,OOO with
similar provisions In the event she
should marry. To the widow, Frances
Louisa Tracy Morgan, was left the in
come Of $1,OOO,OO0 trust fund, in adj
dition to the income Of trust fund
which the f1nancier held from his ia
Their, Junius s. Morgan. A bequest of
$1OOO,OOO was made to each son-in-
law Total requests Of 100000 were
made to the church.
Firm as British Agents.
The activities Of the firm of J. P.
Morgan & Co. in acting as financial
agents Of the allies in the purchase Of
war munitions have been discussed
widely In recent months. The London
Globe recently urged an Investigation
into the activities Of the firm. The
question was brought up twice in one
week on the floor Of the house of COM
mons, but each time was ignored by
the government, although dissatisfac-
ton with the Morgan methods was
said to be widespread. The Globe has
always been bitterly hostile to, Ameri-
cans. --.. ~.-.. .
''The house Of commons" says the
Globe, lis entitled to full disclosure
Of the terms under which j.. P. Nor
gan has been appointed the sole agent
Of the British government in the Unit
ed States. On whose recommendation
was this appointment made? What Is
the rate Of commission? How much