Evening star. [volume] (Washington, D.C.) 1854-1972, 1936-01-26
Continued From Third Page.)

zee his son, Junius Spencer Morgan
well on his way to being regarded
as an international banker and on,
Of the chief links in the flnancia
relationship between Great Britain
and the United States In the middle
portion Of the nineteenth century.
He contributed toward his boys at
tainment Of that eminence by capt.
tali1ng his youthful endeavors.
Junius, born at West Springfield
April IL, 1873, received an excellens
education at the academy which later
became Norwich University, VT. HIS
business experience was obtained as
Z clerk in q dry goods store anc
In the counting rooms Of A. and M
Ketchum, brokers, New York. WMle
still young he was admitted to part
nership in Howe, Mather g. Co., Hart
ford, and ]. M. Beebe, Morgan u CO..
Boston. He bought into George Pea
body a. Co., London, in 1854, and
when Mr.. Peabody retired 10 years
later. changed the name of the firm
to j. s. Morgan & Co.
Wars Aid Success.
Two great wars brought him to the
front among financiers. The first OF
these was the struggle between North
and South, 186l-1864, in which he IA
vored and helped the Union cause;
the second was the Franco-P rusSian
conflict. 1870, in which he supported
France. Bismarck's punitive indemnity
was paid by loan which Junius Nor
gan arranged after Paris and London
bankers had declined the risk.
He lived abroad more than half his
career, making his home at Dover
House, Rochampton, England, where
he owned 70 acres of land and ENTER
tanned extensively" But he never for
got his native country. His interest
in Hartford he retained until his
death at TAN event which followed
q carriage accident near Monte Carlo,
France, April 9. 1890.
Gov. Samuel j. Tilden of New York
praised, Junius Morgan for "upholdlng
unsullied the honor of America in the
tabernacle of the Old World; others
honored him for his charities-he gave
a library and an orphanage to Hart
ford, painting by Sir Joshua Rey-
holds to the Metropolitan Museum,
New York, and money to the Wads-
worth Atheneum, Trinity College, Yale
University, Guys Hospital and the
National Nurses Pension Fund in
England. "A witty man and highly
amusing in his conversation he is
represented as having talked with
lucid precision" and as possessing
definite opinions" upon which he
acted courageously. He married, May
2, 1886. Juliet, daughter of Rev. John
Pierpon. of Boston, a liberallStlc
clergyman, whose name was given to
his only surviving son, John Pierpont
Morgan, ST.
No one can be quite certain about
the size of the fortune left to his sue
cessor by Junius Morgan, but it is con-
coded that it was millions" Also
1t was delivered into hands trained tc
administer it skillfully. Born at Hart
ford April II, 1887, the future fore
most leader of American finance" was
educated at the English High School
Boston, and at an academy at Vevey
on beautiful Lake Geneva, Switzer.
land; then at the University of Gott-
ingen in Germany where he is remem-
bered as being especially interested in
mathematics. He entered his fathers
firm in London in 1856, but after only
few months was sent to New York te
study" IN the Offices of Duncan
Sherman g. Co., American agents for
George Peabody & Co. The files OF
the financial journals Of the period
show that, under the name of ]. Pier
pont Morgan g. Co., he attended to his
fathers business in the United States
from 1864 to 1871, and, with the
Drexels OF Philadelphia, formed the
firm of Drexel, Morgan & Co., New
York, 1874 combination which. in
1895, became j. P. Morgan g. Co., lone
Of the most powerful banking houses
in the world" engaging in "a long
series of operations of enormous va
riety," including reorganizations and
consultations of far-reaching effect
Fights Way to Top.
But the rise of John Pierpont Nor
gan, ST., to the highest apex of power
was not achieved without battle. On
the contrary, he was obliged to fight
every step of the way. His enemies,
Jay Gould and James Fisk. were de-
feated in the so-called Albany g. Sus-
quehanne Railroad deal, 1869. At that
time Gould enjoyed a monopoly as
Government financier. To break his
hold. Mr.. Morgan went after him
hammer and longs" The struggle
ended with Gould's surrender in 1873.
Much more significant, the Morgan
establishment survived the panic in
which Jay Cooke g. Co. failed during
the same year.
An alliance with William H. VAN
derbilt ensued in 1879, when Mr.. Nor
gan aided the transportation king to
sell New York Central stock to Eng
lish investors, thus preventing a col
lapse of the American market.
Yet the strife continued. Mr.. Nor
gan, essentially an organizer and in
tegrating force" fought "the financial
buccaneers Of his age with their own
weapons, and, triumphing over them,
became an influence, though not yet
conspicuous one, for sterilization" He
reorganized the New York, West Shore
g. Buffalo Railroad, on lease to the
New York Central. 1885, and forced
the Pennsylvania Railroad to buy the