White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1916-08-06
"HERE Is A MAN"

Under the above caption the New
York Times comments as follows on
the late J. P. Morgan:
A man is measured by his will. A
man is not suddenly good or bad, or
rich or poor. and all that he is or has
is revealed by the disposition he
makes of his possessions, under the
solemnity of his last words. Mr..
Morgan's will reveals himself rather
than his business, and measures him
self up to the standard Of the money
changer who valued character above
collateral. His estates proportions,
now that the appraisal has been COM
pleted, will disappoint those who
would have made it larger with his
opportunities. No nan had more
inside information" that knowledge
which enables its possessor to buy
cheap and sell dear, enriching him
self at the cost of loss or even ruin
to others. Theoretically, a bad man in
hat possession might be a billion
aire, although, practically. 1t is prob
able that a combination against him
would cost him the confidence which
is bankers stock in trade ever more
than his money.
Mr.. Morgan leaves less than a
tenth of a billion. less than the pos
sessions of many m%illionaires living
and dead who cut smaller figures in
the eyes of the world than he. 1t is
to his credit that he leaves less than
four-score million, including a score
and a half in his chief possession, his
interest In his firm. That he was a
banker rather than a speculator, or
mere amasser of money, appears from
the details of his possessions. He
conceived and executed the concep-
ton of the worlds largest industrial
concern, which was imputed to him
for folly, and which has stultified his
critics within the past few days by
revealing a solidity which makes it a
national institution rather than a
mere corporation. Yet so far as his
will discloses he held but sol shares,
less than $50, 900. Diversification of
Investment, the placing of many eggs
in many baskets, is the general char
acteristie of his estate. 1t is not pos
sible that his Judgment was so bad
as is indicated by many of his de-
preciated or even worthless posses
sions. If he had been the sort of
man who saved himself at the cost of
others he never would have left
$450,240 in New Haven Railway
shares, which show a nearly total de-
probation. Altogether he left over
seven millions In worthless stocks
Some of them represented his mis-
takes either of sentiment or judg-
ment.
All men of affairs take chances on
long shots" Only the poor man, OF
the very rich man, puts security first
Banker promoters delight in the risks
which measure their services to en-
terprise. III they made no mistakes
they would miss many successes. BE
sides. a mar of a character like MT
Morgan's helps many lame ducks, re
CARELESS of the substance In tnei
ventures. B~enevo1ence rather thai
incompetence is the sure revelation
between the lines of such entries. M
better proof could be wanted than TN
nersonal beuuests he made. Seldom
ia there seen a longer list, and ever
more rarely a more careful proper
ton between merit and reward thai
in his list of requests to his business
staff. His charities are considerable
more than Nigh be expected, consid
ering his generosity while alive. Hi
beouests 10 friends attest the gen
uineness of their comradeship. HI
possessions of art objects are dul.
appraised at s20,531,6 09, agains
securities $1S,S43.951. 1t is an in
structive comparison. He certain.
would have agreed that his eoliec
lions of unique articles were more
valuable than the securities. One M
could replace at will. The other II
beyond duplication by any magic o.
money. or that ~assiduity of search
hsoh ~orto tho true collector.