The Waterbury Democrat., 1933-04-20

How J. F. Morgan, Sr., was cartooncd at the time or the PuIo "Moncy Trust investigation
 from the Philadelphia Public Ledger of Dec. 21, 1912.
 aonaI dislike for him, Carnelgic sent the magnetic Charles Schwab, his personal protcgc, to feel out Morgan and Gary. Then he an nounced that 1t was buy Or fight and began a series of projects to complete with Morgan and GateB which might well have ruined both.
 Morgan bought. He paid the equivalent of $447,000.000 In cash and securities in the new corpora ton. It was more than twice what Rockefeller had refused to pay. Stock in the new corporation was eagerly bought in every cross- roads town. Gary was put In charge, and his effective manage mcnt produced both dividends and industrial strife.
 The creation of this industrial colossus put Morgan on the hnan- cial throne, and earned him the nicknames Jupiter" Morgan and "pIcropntifez Mhximus."
 4 lJUS LHfc Idli OI fDNVFi PA'Ffs { fo 2 in and an order by the su- preme court in 13o4 disholving Morgan's Northern Securities Co.,. ono of the first holding companies shook the throne temporarily. But Morgan, never wagering. went on fo form the International Mer- cantile Marine Co.,. absorbing the White Star. American. Red Star .x1I evia3H TipeH
 International Harvester came next. A. huge combine of makers of farm machinery. Morgan and other houses began to take an in- terest in life insurance flrrns, Nor gan specializing in New York Life. Tho death of r.. II. Hartman, Morgan's rival in railroad promo ton, left Morgan free to buy into Guaranty Trust and Mutual Life 1fs also got Thomas Fortune Ky ans interest in Equitable Life.
 The year 1913. as the world paused on the brink of q war that was 10 bring an end to many things. brought the end of J. r. Morgan. He died in Rome. the Eternal City. which had always held a strange fascination for him
 His mantel fell directly on his son the present J. r. Morgan. whose long apprenticeship with the firm enabled him 10 carry on it's affairs without Il break. Strangely enough, within year of the elders death. the son was fatcd to carry through fl loan transaction more than twice ns large as any of his fafhcr's.
 The desperate need of the Allies for war supplies neccsslthtcd fl hugo American loan. A distinguish ed Anglo French mission, headed by Lord Reading, arrived and con ferrcd with Morgan. They were goininR to ask billion dollars. q sum never before even mentioned fin international finance. Morgan lit one Of his long black cigars "Rcading," he said. "I wouldn't ask for billion if I were you. l think you'd be wiser to limit your first large bond issue 10 half a billion"
 So half a billion it was. and sue. cessfuliy sold in American through fl Morgan syndicate Of z.200 banks. Tho House of Morgan became fs- cal agent for the British govern ment, and Edward stettinius (later fc become q partnerJ became pur- chasing agent for all the Allies Firms associated with the House naturally got their share of the fat contracts.
 When the United States entered the war, the governments titanic financial operations temporarily sciipeed the House of Morgan and RIi other privately-run banks. In i9f4, Morgan and his partners re- signed 90 directorehips. citing the burden of attending meetings and public ciamor against them.