New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
COCHRAN JOINS
MORGAN FIRM
Newest Young Partner
Obscure Realty Man
Ten Years Ago

ed twenty years or so ago with the
alternatives Of working his way through
his last year Of Yale or quitting, VIII
become a partner in the firm OF }. T.
Morgan & Co. on January /. During
his first three years at college his had
been the easeful, graceful part OF
youth with an indulgent and wealthy
father. He had made the football team
and skull and Bones and other honors
had fallen upon him.
Business reverssls TO his father,
which cut of his allowance. did not
daunt the young man. He decided to
work his way through. He did it. and
when he was graduated he had tho
habit. After year OF teaching nc
went into a hardware commission bust
ress in 81. Paul. where his parents,
originally residents Of New York lived.
Three years later he went into railroad
work in Albany. staying there two
years.
Mr.. Cochran's Career
He is forty-fve years old, and ten
wears ago was working for a real es-
tate firm in New York at salary that
even the youngsters of Wall Street
vould sniff at. He had stayed there
for seven years at the same salary
Then Henry ?. Dawson, discovery
of the late J. ?. Morgan and hlmsen
something Of a "discoverer,' came upon
the young man. Advancement came
fast but without revealing any weak
nesses.
At the time Mr.. Dawson was work
jng out a plan for organizing the Astor
Trust Company. The two young men
whom he selected TO aid him were Mr..
Cochran and Seward Prosser, now pres
ident Of the Bankers Trust Company
The Astor Trust Company was formed
with Mr.. Dawson as chairman OF the
executive committee. This was IN
March, 1907. Mr.. Cochran was mace
vice-president, serving in that capacity
Liberty National in 1914.
Harvey D. Gibson, now its first wee
president, probably will be named as
Mr. Cochran's successor there.
Mr.. Cochran is a director of the As
tor Trust Company. the Bankers Trust
Company. the Interborough Rapid
Transit Company, the Bankers Com
mercial Corporation. the Knox hst
Company. the Submarine Corporations
The Kennecott Copper company the
Braden Copper Company, the AnlerlCa"
Piano Company. the Hecla iron WoiHS'
tho United DrygOods Company the ~
sociated Merchants COMPANY hoIu
Tavlor. the International Motor O"n'
nanv the Morris Plan company an"
the Liberty National Bank. nt.,
He also il d governor OF the BANKERS
Club Of America, secretary anu c.".
,,rer NJ Group * Of the New YORK State
bankers Association, memper .. '"F
Chamber Of Commerce OF the Sts'e 10
New York. the University Ct,uu' ~
I-rio, League Club, the Yale CLUB, the
FngIewood Club. tho Bankers Club OF
Ar'crica and the knicKerbocker Couh-
try Club.
Firm New Twelve Members
With Mr.. Cochran's formal adnls-
sior 40 a partnership, the Morgan hrm
v,;ll he increased 10 twelve members
The eleven others are: j. =. Morgan
Charles Steele. n. Z. Dawson, william
II. Porter, Thomas ". Lamont, W. r.
Hamilton, Dwight ". Morrow and r r.
r. Stettinius. in New York r; l.
Stotesbury, II. 6. Lloyd and A. +. New
bold, in Philadelphia.
They are all comparatively young
men. The late j. p. Morgan adopted
the policy, since adhered 20. OF gong
TO outside sources for new blood. Mr..
Porter was formerly president OF the
Chemical National Bank; Mr. Lamont
WAS vice president OF the First Ma
tional; Mr. Morrow came from the law
firm Of Simpson, Thatcher e. Bartlett;
George W. Perkins, former partner,
was taken from the New York Life In
surance Company. MIR. Stettinius, then
president Of the Diamond Match Com
panv, was admitted 10 partnership
wear ago, TO supervise the purchases
made By the Morgan firm as Allied
agents in this country.
While no attempt has been made 90
compute the profits Of J. =. Morgan &
Go. during the last year. IL is the con
sensus Of opinion that they vii! be rec
ord breaking. As agents OF the British
government. the firms commission on
all war orders is per cent and eX-
penses. This announcement was made
in the British House Of Lords in June,