The Birmingham age-herald., 1920-05-21
Daily Wall Street Gossip
BY HOLLAND.

itors at 50 cents on the dollar at the time
 of his misfortune, nevertheless, after he
 again established himself and was suc-
 cessful, he paid to those creditors the full
 amount, including interest.
 He seemed to have an almost canny
 sense of the coming of opportunities. and
 to know exactly how to take advantage
 oe them One anecdote will illustrate this
 characteristic. He called upon a broker
 who is now living one afternoon a few
 moment safter the stock exchange was
 closed for the day. He seemed almost
 timid, saying that he knew he was late
 and yet he wondered whether the broker
 would not accept an order for him. The
 broker did not hesitate, but he was
 somewhat astonished when Mir. Morgan placed the order before him. It was for
 a purchase of a very large block of the stock of the New York Central Railroad Company. The next day announcement vas made that Commodore Vanderbilt
 had decided to issue stock dividend of
 100 per cent, increasing the capital stock
 from $40 GOO OO0 to $S00oo0oo,
 MT Morton did not reveal the source , of his information, but he knew well
 what he was doing when he placed ,ne order for a large block of this stock a few hours before the announcement was made that the capital stock was to be increased to SSG 600, coco. Of course, his order carried with it the proportionate part of that increase of capital stock of
 the New York Central.
 On the day after the death of MT Nor ton the report was published that Presi- dent-elect Garfield offered to Mr. Morton the post of minister to France. At that time our representative at France was minister plenipotentiary, not ambassador But it might have been repored that had General Garfield accepted the earlier plea of hte leading New York republicans and named Mir Morton for Secretary of the Treasury there would have been no split in the party, probably no Garfield trag- edy,
 General Garfield was very fond of MT. Morton, and personally would have been glad to name him Secretary of the Tress- ury. but political considerations made an appointment of that kind impossible. The President-elect regarded it as vital that 1 the Secretary of the Treasury should be a citizen of the Mississippi valley. Tor that reason he urged Senator Allison of Icwa to accept the treasury portfolio. But the senator declined. Then General Garfield turned to Senator Windom or Minnesota, who reluctantly accepted. The report is true that Mir. Morton would have been the candidate for vice president on the ticket with General Gar fields friends to name anS man the New York delegatiOn recommended for the vice presidency. There has always been q suspicion that Mr. Morton, if he had been uninfluenced would have accepted the vice presidency, as he did eight years later. But the New York republican leaders. dominated by Senator Conklins' I counselled him not to do that There- upon the New York delegation nans~l General Arthur who accepted. saYne that an opportunity of that kind came
 but once in the life of any man.
 MT. Morton was not an able politician, If his ability, in politics had matched that which he possessed as banker his would have been a master mind in American politics in his time. But he was greatly liked, made many friepds and ketp them. was of kindly disposition and as he was man of wealth also it was natural that republican thou ~s should be centered upon him when the opportunity came to nominate him for ! representative in Congress and for gov ernor. He would also have been elected United States senator had he not been convinced that it was his duty not to
 stand in the way of the election of Will liam M. Evarts.
 He had no rules or standard of living by which hei was able to explain Ns ninety-six years of life, but he did ohoe say that longevity depended upon good constitution, correct habits, clean con
 science and a cheerful disposition.