The New York herald., 1922-05-07


gave him a clear insight of reconstru =
ton problems. but the comprehensive
plan which he evolved for financing tile
after war needs of the allied countries,
practically his last undertaking of a
banking nature, never was finished. His
illness prevented the application of his
powers TO project which was dear 10
his heart.
Mr.. Dawson was wealthy, although
the making OF money was subordinated
in his scheme of life TO the urge for
getting big things done in a big way.
A partnership in the Morgan house is
popularity reported to be worth $1,000
600 a year to the more active partners.
During the war when the firm acted as
fiscal agent for the British Government
and purchased scores of millions of dol
lars worth OF ENTHUSIASTICALLY car
rying heavy burden in process of ex-
tending credits to allied purchasers
the profits probably exceeded those OF
normal years.
The Dawson fortune Is estimated be-
tween $15.600,O 900 and $50. 900. 900, in
Guiding life insurance policies in excess
Of s1,000.000.
Sketch OF His Career.
Henry Pomeroy Dawson was born at
Troy, Pa. June 10. 1867 He was of
Scotch and Welsh descent and was
son of George B. and Henrietta POM
eroy Dawson. His father was a busi-
ness man of Troy.
He was graduated from high school
when he was Is. years old. He taught
school for a time at Troy, many of the
students under him being several years
older than himself. He also attended
school at Greylock Institute. Williams
town, Mass. His first banking connec-
tion was in his uncle's bank In Troy
when he was ~ years old.
Young Dawson wanted to come to
New York. but when he left Troy and
came to this city to look for a job ne
found that the city did not appear eager
to welcome the future financial genius.
Acting on the advice of the late e. c.
Converse. who later became one Of his
closest friends. he went to Bridgeport.
Conn.,, to become q runner In the Pequon-
mock National Bank.
A year later. with a few hundred dol
lars he had saved. he returned to New
York and got clerkship In the Astor
Place Bank Soon after he was ele-
vatsd to the position OF paying teller
an incident occurred which attracted
wide attention. One day crank stuck
revolver through Davisons little
WiuuOW anu ueIIldHOeQ payment OH u
check Of $1,000 drawn to the order of
Almighty God.
Shall I pay II all in dimes?" asked
Mr.. Dawson loudly. The question drew
The house detective, who got behind the
crank and soou subdued him.
Becomes Bank President.
When the old Astor Place Bank be-
20 ~ <I4s
Bank Mr.. Dawson went to the Liberty
National In 1899. just six years after no
had been there, he was made president.
He resigned in 1902 to become vice.
president of the First National Bank.
All the while HIS activities were grow
,ig more and-in important, and his
advice was sought on financial ques-
tons with increasing frequency. When
ne was a bank clerk he had taken the
time to study law. He had knowledge
of the lega. aspects of the banking busi-
ness which was regarded as unusually
comprehensive. ~
In the panic Of 1907 Mr.. Dawson was
a member Of the special Clearing House
committee that made q searching inves-
ttgation into the affairs of many finan-
cial institutions. He performed notable
service In preserving the money struc-
ture of the country during that period of
depression and fear. He took part in
many meetings which were called to de-
wise means of pulling through the panic.
1t was through these meetings that the
attention of J. p. Morgan first was
attracted to Mr.. Dawson.
In fact the 1907 panic first brought
Henry p. Dawson into nation wide
banking attention when as vice -presi-
dent of the First National Bank he
worked hand, in glove with George w.
Perkins. then a partner in the Morgan
firm. J. Pierpont Morgan, the elder,
liked Mr.. Dawson and contrived to see
and hear much about him during the
early part of 1905. One day when MIR.
Dawson was at 23 Wall Street Mr..
Morgan said: Harry. the first OF the
year want you to move your desk from
the corner of Wall street to my office
With a typical example OF Dawson
modesty. he replied: Mr.. Morgan.