The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1916-12-18
POOR BOY GETS
PARTNERSHIP IN
J. P. MORGAN co.
Thomas Cochran Will Resign
Presidency of Liberty
National Bank.

New York, Dec. 1s.-Tke richest
plum in the American banking field
falls this year to Thomas Cochran
now president of the Liberty National
Bank, at 120 Broadway. On Jan. l he
will resign and become member of
the firm Of j. P. Morgan & CO. The
new member will make the ninth
partner in the New York office and
the twelfth in the firm. Mr. Cochran
was As years old on March 20 last, and
will be the youngest partner but one,
Dwight w. Morrow, a lawyer.
The oldest member is Edward L.
Stotesbury Of Philadelphia, but j.
Pierpont Morgan heads the firm. The
other New York members are Charles
Steele, who has relinquished part OF
his duties owing to uncertain health;
Henry P. Dawson, the closest asso-
ciate Of the late Mr.. Morgan and OF
the present head Of the house; Will
liam Pierson Hamilton, william H.
Porter, Thomas w. Lamont, D. w.
Morrow, and Edward R. Stettinius.
The latter, formerly president of the
Diamond Match company, went with
the firm two years ago to take charge
of the export department. and was ad-
mitted to partnership last January.
Mr.. Morrow preceded him into the
firm by one year.
Mr.. Porter, who was president of
the Chemical National Bank when
taken into the firm, has been away
for five months recovering from a
breakdown due to overwork, but is ex-
pected to resume his old duties in a.
few days. The other two partners are
Arthur E. Newbold and Horatio H.
Jox,L MI 800 - 1a%A u
Morgan and Temple Bowdoin have
also been carried as members.
What a partnership in the firm of
j. P. Morgan & Co. is worth has never
been divulged In financial circles it
has long been believed that the active
partners receive 100000 a year. The
profits have been greatly increased by
the firms new activities as agents in
the United States for the Allies since
the outbreak OF the war in Europe.
The export department alone has han
died hundreds Of millions Of dollars
worth Of business since its organtza-
ton by Mr.. Stettinius. !
Mr.. Cochran was made a vice presi-
dent of the Aston Trust Co. when Mr..
Dawson became chairman OF it's ex-
ecutive committee in March, 1907. In
October, 1914, he became president
Of the Liberty National Bank, another
Morgan institution. The Liberty is
the most profitable national bank in
the United States.
The new partner was born in st.
Paul. where his parents had moved
from New York, and prepared for
Yale at Phillips Andover Academy.
He played on his university football
~ 20 nd
Bones During his junior year at
New Haven, his father met with bust
ness reverses, and Mr.. Cochran work.
ed his way through his final year. At
ter graduation he taught school for a
year, and then returned to st. Paul to
enter the hardware commission BUSH
ness.
Three years later he moved to AL
bany to do some railroad work, and In
January, 1900, came to New York,
practically penniless. His first situa-
ton here was as treasurer of real
estate company, in which capacity he
became acquainted with Mr.. Dawson,
then vice president of the First Ma
tional Bank. Mr.. Dawson picked
him, with Seward Prosser, now presi
dent of the Bankers Trust Co.. to
help in the organization Of the Astor
Trust Co. This institution was sue
cessful from the start, and seven years
later Mr.. Cochran was promoted to
the presidency Of the Liberty Mr..
Dawson is credited with having mas
tered the late J. P. MorEans ability
to pick promising young men.
In 1910 Mr.. Cochran married Miss
Martha Griffin, now deceased. He
lives with his brother in a cottage at
Englewood, N. j., where he has Q.
constant companion in his collie. Bob.
His chief recreation consists in cross
country walks with his dog.
Mr.. Cochran has many interests in
the business world. He is director
of the Astor Trust Co., the Bankers
Trust Co., the Interborough Rapid
Corporation, the Knox Hat Co.. the
Submarine Corporation, the Kenne-
colt Copper Co., the Braden Copper
Co., the American Piano CO.. the
Fecla Iron Works, the United Dry
Goods Co., the Associated Merchants
Co., and the Liberty National Bank
also is a governor of the Bankers
Club of America, secretary and treas
urer Of Group 8 of the New York State
Bankers association, member Of
the Chamber Of Commerce of the
State Of New York, the University
club. the Union League club, the Yale
club. the Englewood club, the Bank
ers' Club of America and the Knicker-
booker Country club.
A 100000 post office building is to
be erected at ST. George, Staten Is
To-