The evening world., 1916-12-22

n. n. HARJES
days were numbered. more young men
were taken In.
The third era dawned with the begin
ming OF tho European war. Under the
direction OF J. r. Morgan. the younger.
who had spent much OF his life abroad.
n bold bid was made for business with
the Governments of England and
France. Not only did the House OF
Morgan seize the opportunity to as.
sumo the place so long held by the
House OF Rothschild a. banker foe
European governmental, but II plunged
into the munition supply business and
became official purchasing agent FOR
the allies IN the United States
There IL no such thing in tho
House Of Morgan as title or official
rank among tho partners after tho
head OF the firm. but by process OF
development one always has become
foremost In activities and public re-
lations.
J. Hood Wright held that place In
olden days. George w. Perkins was
In tho spot light for several years.
and now Henry r. Dawson Is CHIEF
OF staff. His coming into tho firm
In 1908 i~naugurated a new dynasty
and a different typo of partners,
having as its most recent exemplar
this last addition. Thomas Cochran.
FOUR MEN NOW IN POWER
STARTED At BOTTOM.
There are four mon In this new group
Of Morgan partners. all energetic,
dashing. brilliant men In the forties,
who have made their way to tho
top with amazing speed. Starting out
side the Metropolis. they worked In
country banks, were drawn to New
York by keen-eyed old presidents look
Ing for successful youngsters and then
in turn became prominent in the great
est national banks and trust companies
OF the financial section. As a final
step they achieved 4 Morgan partner
ship. which Is tho nit OF AL that
Wall Street co,tAin. - che ambitious
man.
This quartet consists OF Henry p.
Dawson. Thomas w. Lamont, William
ii. Porter m Thomas Cochran.
The last partner taken In before AFR.
Cochran was Edward X. StettinIus,
who had been president of the Diamond
Match Company and was classeI as
one OF the ables business men in the
country In Industrial and manufactur.
Ing lines.
In the division OF labor In the House
OF Morgan tho various partners spe.
ciallze In supervision Of different
In a general way their de-
partments are as follows:
Commander In chief. John Pier.
pont Morgan. senior partner.
Chief Of staff and executive
officer. Henry p. Dawson.
Banking business. William n.
Porter.
Lamont.
Purchases for the slliss. ed.
ward r. ststtinius.
S"'So msHa8cmoH n co.
counts, William p. Hamilton.
Law department. Charles Steele,
assisted by Dwight W.. Morrow.
Philadelphia branch, 6. r.
s~totesbury and Arthur e. New
bold.
The Morgan firm 10 strictly an as.
OF partners, II ~ not an in
corporated company. nor a national or
state bank. IL makes no report OF its
or profits. n Is not subject
to any supervision by government. A
yields enormous income,
but how much and In what proportion.
no outsider knows A million a wear
Ii a common Wall Street report OF the
times.
Great as was tho money made BY the
elder Morgan IN his day. circumstantial
evidence indicates that the younge
Is plling up profits far more
than his father ever dreamed OF
making. The European war turned a
tide toward America and IL rolls
by the millions Of dollars through the
House OF Morgan to tho profit OF ali
the partners.