Junius Spencer Morgan, III won (41%) against 2 opponents. Son of Junius Spencer Morgan I and Juliet (Pierpont) Morgan Brother of Sarah Spencer Morgan, Mary Lyman (Morgan) Burns, Junius Spencer Morgan II and Juliet Pierpont Morgan Husband of Amelia (Sturges) Morgan married 7 Oct 1861 in New York, USA Husband of Frances Louise (Tracy) Morgan married 31 May 1865 [location unknown] Descendants Harriet Nickerson , William Lord, Alice Anna GAYLORD , Richard TREAT, Blanche de BRIENNE , Guillaume de FIENNES, Elizabeth x , Nathan Lynde. 2008 - 2023 INTERESTING.COM, INC. Morgan at the time was building a library at the corner of Madison Avenue and 38th Street in New York City and was looking for someone to help him cultivate his growing collections. Cookes firm collapsed on September 18, triggering a wave of bank failures as part of the Panic of 1873. Brother of Archilles Morgan; Lucy Goodwin and Mary Morgan, http://en.wikipedia.org/wiki/Junius_Spencer_Morgan. The following year, he fronted a syndicate that sold $40 million in bonds to finance the Northern Pacific Railroad, then the largest transaction of railroad bonds in U.S. history. {{ media.date_translated }}, {{ asCtrl.bannerRights.content|translate }}, The Geneanet family trees are powered by Geneweb 7.0. Having financed the creation of the Federal Steel Company in 1898, Morgan in 1901 joined in merging it with the giant Carnegie Steel Company and other steel companies to form United States Steel Corporation, which was the worlds first billion-dollar corporation. Devastated, the young businessman returned to New York and plunged himself into his work. father: Junius Spencer Morgan mother: Juliet Pierpont children: Anne Morgan, J. P. Morgan Jr., Juliet Pierpont Morgan, Louisa Pierpont Morgan Born Country: United States Bankers American Men Died on: March 31, 1913 place of death: The St. Regis Rome, Rome, Italy U.S. State: Connecticut City: Hartford, Connecticut Let us know if you have suggestions to improve this article (requires login). << /Length 6 0 R /Filter /FlateDecode >> Morgan & Co., House of Morgan) Born: 1813 Died: 1890 d. after carriage accident Gen. Pierpont Hamilton's Great-Grandfather. GLEN COVE, L. I., N.Y., July 3, 1915 (UP) - John Pierpont Morgan, the financier, was shot at his summer home here shortly before 9 o'clock to-day. These prompt payments to the banks destroyed in the fire established Aetna's reputation on Wall Street and allowed the firm to triple its premiums in later years. Morgan was born on 17 April 1837 in Hartford, Connecticut. Also in 1901, Morgan teamed with James J. Hill to form the Northern Securities Company. Honored By Two Nations Spent Most of Time in Europe Since Retiring From Paris Banking Firm Many Years Ago", "Oxford Dictionary of National Biography", "Mrs. Juliet Morgan Left Only $43,738; Sister of Late J.P. Morgan Made No Will, and All Goes to Son", "Morgan Estate Tax Filed; Cousin of Late Banker Had Net of $1,881,913, Appraisal Shows", "The Late Junius S. As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. After the Civil War broke out, Morgan traded Union war bonds at a tremendous profit. Junius is 18 degrees from Jennifer Aniston, 15 degrees from Drew Barrymore, 16 degrees from Candice Bergen, 17 degrees from Alexandre Dumas, 18 degrees from Carrie Fisher, 27 degrees from Whitney Houston, 14 degrees from Hayley Mills, 16 degrees from Liza Minnelli, 18 degrees from Lisa Presley, 18 degrees from Kiefer Sutherland, 18 degrees from Bill Veeck and 18 degrees from Brian Nash on our single family tree. "Go as far as you can see; when you get there, you'll be able to see farther. Posted at 16:45h in logan sargeant family by nerf gun obstacle course rental near me. Morgan & Co. Junius had a strong role in getting his son into the best educational schools he had access to, as well as mentoring him on successful business habits. Family Members Have you taken a DNA test? In 1836, he married John Pierpont Morgan's mother, Juliet. [27][28][29], Despite their own financial difficulties in this period, Peabody and Morgan were chief backers of Cyrus West Field's bedeviled transatlantic cable project throughout. Junius is one of those names that's growing on us, along with many of its Roman countrymen such as Julius and Atticus. Omissions? Miles Morgan]], ancestor to the Morgan family in America, emigrated from Bristol, England to Boston in 1636. The Morgan name is traced to Carmarthen , Wales, and the first known Morgan family ancestral is Hyfaidd ap Bleddri, third son of Bledri of Wales. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. Junius Spencer Morgan (1813-1890) owned part of a large mercantile house (trading company) in Hartford, advanced to a larger one in Boston, Massachusetts, and . Morgan's already successful career took a leap forward in 1879 when William Vanderbilt approached him about the sale of 250,000 shares of stock in the New York Central Railroad. Dowling [34] It was therefore not as directly reliant on American slavery as its peer banks in London, and took advantage during the American Civil War by aligning with the Union. [37] After the fall of Paris in January and the establishment of the Paris Commune, the bonds dropped from 80 points to 55, nearly bankrupting J.S. [33], In 1864, Morgan's ten-year agreement with Peabody expired. 1902. [1] Career Between 1885 and 1888 he extended his influence to lines based in Pennsylvania and Ohio, and after the financial panic of 1893 he was called upon to rehabilitate a large number of the leading rail lines in the country, including the Southern Railroad, the Erie Railroad, and the Northern Pacific. J.P. Morgan is remembered as such a dominant figure in American capitalism that it seemed to many that he ran the entire economy, able to pull strings anywhere. In October 1861, Morgan married Amelia Sturges in Manhattan, New York. J P Morgan. His paternal grandparents were Junius Spencer Morgan (1813-1890) [3] and Juliet Pierpont (1816-1884), the daughter of John Pierpont. A protracted legal battle was settled when the Supreme Court ruled in favor of the government in 1904. In 1875, at the age of 38, Morgan was living with his wife Frances and children Louisa, John, Juliet, and Anne in Highland, New York. Major children and living persons must directly contact the. He began his business career in 1829 by entering the employ of Alfred Welles, of Boston, with whom he continued until he became of age.--In July, 1834, he joined the banking-house of Morgan, Ketchum and Co., of New York, but he returned to Hartford about eighteen months later. [14][15] He was soon among the nation's financial elite. contains thousands of pictures and GeneaStars. He founded J. S. Morgan & Co. Gatsby-esque Mansion on Long Island Gets $15M Chopped Off its $100M Asking Price, New York Remains the Worlds Top Super-Luxury Property Market, New York Developer Pockets $11.6 Million After SellingHisBillionaires Row Condo for 52% Gain, A One-Bedroom Inside a Mid-Century Modern Manhattan Landmark. Originally granted by King George I to a private person in 1721 for 200 pounds, according to Ms. Devendorf, it was purchased in 1919 by Junius Spencer Morgan, whose grandfather J. P. Morgan. ; The Result Of The Banker's Recent Accident At Monte Carlo", "Mrs. Morgan's Funeral. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. [24], The railway boom ended in 1857 and prices collapsed, leading to rumors in London that Peabody & Co. was on the verge of failure. Pierpont, as he preferred to be known, had a varied education, due in part to interference by his father, Junius. This house is among the chief negotiators of railroad bonds, and was active in the reorganization of the West Shore railroad and its absorption by the New York Central railroad. By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American industries. J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. . Spouses, children, grandchildren and great-grandchildren. Find Junius Spencer Morgan stock photos and editorial news pictures from Getty Images. Peabody pledged the bank could continue to use his name and if necessary, some capital. He then looked to the financial and insurance industries, in which his banking firm also achieved a concentration of control. He became a partner in mercantile firms in Hartford, Conn., and in Boston and then (1854) went to London to become a partner of George Peabody. He began working for his father at a young age and attended the University of Gottingen, a German language school. Under her ownership, the main manor was used as the setting for the remake of movie "Sabrina," a romantic comedy starring Harrison Ford and Julia Ormond. Junius Spencer Morgan, 1813-90, b. The syndicate bought and quickly resold the bonds in early 1895, stabilizing the shaky economy. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General . Touring the world with friends one mile and pub at a time; southlake carroll basketball. This page has been accessed 12,698 times. The yearly tax for the property is about $570,000. rootsweb: Click Here [35] Morgan succeeded Peabody as head of the firm and reluctantly changed its name to J. S. Morgan & Co.[36] Despite his disappointment, J. S. Morgan was the largest American bank in London and had earned 444,000 in the prior ten years, leaving Morgan a powerful platform for future investments. Birth 14 April 1813 - West Springfield, Massachusetts. At his death, in 1890, he left a fortune estimated at about $10,000,000. Regardless, Morgan continued to exert his authority in both industries and in government. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius. Spencer was on the show to talk about his new Disney+ documentary, Finding Michael, released on Friday. He was instrumental in forming major corporations such as U.S. Steel, International Harvester, and General Electric and had controlling interests in various businesses, including Aetna, Western Union, Pullman Car Company, and 21 railroads. [70], Last edited on 25 February 2023, at 17:50, Connecticut Mutual Life Insurance Company, "J.S. Morton. In 1864, at the urging of his father, he paired with senior partner Charles Dabney to form Dabney, Morgan & Co. With Junius Morgan now heading the London banking firm, the Morgans continued to expand their wealth and influence by funneling overseas investments into American businesses. In 1902 Morgan brought together several of the leading agricultural-equipment manufacturers to form the International Harvester Company. From about 1836 to 1853, he was in the dry-goods business. 100 1 _ a Morgan, Junius Spencer, d 1892-1960 4xx's: Alternate Name Forms (3) 400 0 _ a Junius Spencer Morgan III c American banker (1892-1960) Brother of Mary (Morgan) Smith and Lucy (Morgan) Goodwin. He is also remembered for his art donations to New York Citys Metropolitan Museum of Art and his book collection, now in the Morgan Library and Museum. Additionally, the lifelong art enthusiast began exponentially expanding an already impressive collection of valuable works. [4] [5] Career. Under this name the house has grown in strength and influence until at present it ranks among the great banking-houses of the world. Morgan. Get a Britannica Premium subscription and gain access to exclusive content. Junius Morgan book. A sprawling 85-acre compound on the North Shore of Long Island, New York, is hitting the market for $125 million Wednesday, Mansion Global has learned. His name lives on through the massive international banking firm he created, which entered the 21st century as JPMorgan Chase & Co. Additionally, the financial giant left behind a personal art collection to rival that of any king. [20] Some of Peabody's largest clients suspended business or failed entirely, and Duncan Sherman was unable to pay its remittances without assistance. Articles from Britannica Encyclopedias for elementary and high school students. "[48], In 1836, Morgan married Juliet Pierpont (18161884), daughter of John Pierpont (17851866), a poet, lawyer, merchant, and Unitarian minister. Actually, although John Pierpont Morgan's father was indeed named Junius Spencer Morgan, this was not his home. in Hartford, Connecticut, USA , United States, Died on March 31, 1913 ALL RIGHTS RESERVED.1211 AVE OF THE AMERICAS NEW YORK, NY 10036 | info@mansionglobal.com. With his son's aid, Morgan grew his banking house into a trans-Atlantic . Leave a message for others who see this profile. He worked at his father's bank, Peabody, Morgan & Co., and later the firms of Duncan, Sherman & Company and Dabney, Morgan, and Company. Morgan III. He co-founded the banking firm that became J.P. Morgan & Co. in 1871, and in the 1880s he established himself as a power player in the country's railroad industry. In 1896, Morgan embarked on consolidations in the electric, steel (creating U.S. Steel, the world's first billion-dollar corporation, in 1901), and agricultural equipment manufacturing industries. Originally granted by King George I to a private person in 1721 for 200 pounds, according to Ms. Devendorf, it was purchased in 1919 by Junius Spencer Morgan, whose grandfather J. P. Morgan Sr. founded the eponymous bank and dominated American corporate finance in the late 19th and early 20th centuries. [7], In January 1836, Morgan's father bought him a partnership in the Hartford wholesale dry goods house of Howe Mather & Co., the largest in Hartford. Junius Spencer Morgan III was born on March 15, 1892, to Jane Norton Grew and Jack Morgan (1867-1943), who was a banker and the son of J. Pierpont Morgan (1837-1913), the renowned financier. Junius Spencer Morgan. In accordance with the legal provisions, you can ask for the removal of your name and the name of your minor children. Famouskin.com also includes ancestoral charts showing the family relationships of J.P. Morgan to many famous kin. Morgan & Co. Morgan sought to prop up the price by purchasing as many bonds as he could. Morgan demurred but eventually accepted, joining the firm as junior partner in October 1854. Throughout, Morgan and Peabody maintained their confidence in Field's project. Junius Spencer Morgan II (1867-1932), son of J. Pierpont Morgan's sister Sarah, began collecting rare books while he was in his teens and eventually built a fine collection of the ancient Roman poet Virgil's works. Mary Lyman Morgan Burns 1844 - 1919. Enter a grandparent's name. lis! If not, see our friends at Ancestry DNA. [8] He continued traveling to collect debts and purchase cotton through the ongoing depression into the 1840s, continuing to grow his reputation as a businessman in Hartford. Francis Goodwin,[59] chairman of the Hartford Parks Commission. After the death of his wife Juliet in 1884, he withdrew further from business. Through his mother, he was a first cousin to Henry Grew Crosby (1898-1929). Relationship with Timothy Michael Dowling (Sosa/Ahnentafel #1), Relationship with Juliet Pierpont (spouse), Browse using this individual as Sosa/Ahnentafel #1, , born 30July1816 - Baltimore, Baltimore Co., MD, deceased 23February1884 aged 67years old, List of all individuals in the family tree, {{ 'gw_downgraded_access_back_to_max'|translate }}, Born 14April1813 - West Springfield, Hampden Co., MA, Birth, death: Dowling Family Tree - Tim Dowling - rootsweb, 2001-2015 - - electronic - I42064. By the time of his death in 1890, the Morgan banks were dominant forces in government and railroad finance, and his was the pre-eminent American banking house. He then became junior partner in the drygoods house of Howe, Mather and Co., which in 1850 became Mather, Morgan and Co. A year later he was invited by James M. Beebe to form a co-partnership in Boston, which, under the style of J. [38], Another windfall arrived at Morgan's doorstep that same year when Philadelphia's Anthony Drexel proposed an affiliation with J. S. Morgan & Co. Drexel was then Philadelphia's second power in government finance after Jay Cooke. Junius Spencer. We are all related! Best Known For: J.P. Morgan became one of the wealthiest and most powerful businessmen in the world through his founding of private banks and industrial consolidation in the late 1800s. [30] The firm turned an eventual profit on the venture, but its major purpose was to establish Morgan as a primary backer in the growing communications industry. Along with amassing immense wealth through the creation of such corporations as U.S. Steel, Morgan led efforts to bail out the U.S. Treasury in 1895 and 1907. {{ media.date_translated }}, {{ asCtrl.bannerRights.content|translate }}, The Geneanet family trees are powered by Geneweb 7.0. Ten years later, he succeeded Peabody as head of the firm and changed its name to J. S. Morgan & Co. MORGAN, Junius Spencer, banker, born in West Springfield (now Holyoke), Massachusetts, 14 April, 1813. Ms. Walker couldnt immediately be reached for comment. Morgan's astounding success transformed the financial industry and left behind a powerful legacy. Deceased persons are not concerned by this provision. -- PBS Online, 1999, {{ mediasCtrl.getTitle(media, true) }} [6], In April 1833, Alfred Welles offered Morgan a partnership in his firm; he accepted against his father's wishes. All Rights Reserved. He reorganized several major railroads and became a powerful railroad magnate. % Morgan Family. Juliet Pierpont Morgan . Joseph Morgan handed to his son, besides fortune and the capacity for making more money, a genial disposition; he had the qualities of the old-time host in the hotel business, and his . Morgan was one of the greatest art and book collectors of his day, and he donated many works of art to the Metropolitan Museum of Art in New York City. Samuel Spencer (1670 - 1756), my sixth great grandfather, and Morgan's third great grandfather. Linked to: Timothy Michael Dowling, 6th cousin 5x removed, {{ mediasCtrl.getTitle(media, true) }} [40], In 1873, Morgans American presence dramatically increased after the failure of Jay Cookes banking empire. Hartford, Hartford, Connecticut, United States, Contributions to the History of Christ Church, Hartford, Middletown Upper Houses, A History of the North Society of Middletown, Connecticut, from 1650 to 1800, Connecticut, Deaths and Burials Index, 1650-1934, Updated Morgan Genealogy: A History of James Morgan, of New London, Connecticut, and His Descendants, from 1607 to 1997. Posted at 21:44h in bonobos walmart acquisition by mexico city time change. They maintained a twice-weekly correspondence for thirty-one years, which Pierpont burned in 1911.[58]. (1892 - 1960) Photos: 745. "[43][36], As Junius took a less active role and Pierpont continued to accrue massive profits, the balance of power within the Morgan empire shifted from London to New York City. During the depression that followed the panic of 1893, Morgan formed a syndicate that resupplied the U.S. governments depleted gold reserve with $62 million in gold in order to relieve a Treasury crisis. Wife/Partner: Juliet PIERPONT Children: John Pierpont MORGAN ; Mary Lyman (m. Walter Hayes Burns) IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. the tall man aboriginal spirit; metadata api request failed: component conversion failed: file_ended; caleb foote sandlot pigella miraculous ladybug power. junius spencer morgan junius spencer morgan. He became the junior partner of the banking-firm of Dabney, Morgan and Co. in 1864, and that of Drexel, Morgan and Co. in 1871. Working with his son John Pierpont in New York, Morgan was able to receive news of the fall of Vicksburg via telegraph before it became general knowledge in London, buying up Union bonds before their prices rose. At Princeton University, she came to the attention of Junius Spencer Morgan II, a student at Princeton University and a nephew of John Pierpont Morgan. And I saw, and behold, a pale horse, and its rider's name was Death, and Hades followed him; and they were given great power over a fourth of the earth; to kill with sword and with famine and with pestilence and by wild beasts of the earth." . Career He began his business career in 1829 by entering the employ of Alfred Welles of Boston. The Beaux-Arts Morgan Memorial of 1910-15 was designed by Benjamin Wistar Morris. [5] He made a fortune with Aetna in 1835, when Aetna covered Wall Street firms destroyed in the Great Fire of New York. In April 1912 Morgan had a booking on the maiden voyage of White Stars Titanic but was forced to cancel, reportedly because of an illness. Junius Spencer Morgan 1813-1890 Juliet Pierpont 1816-1884 Spouses, children, grandchildren and great-grandchildren Married in 1861, New York, NY, to Amelia Sturges, born in 1835, deceased in 1862 aged 27 years old The current owner, Margo Walker, a socialite and real estate broker, gradually bought up all the houses over the years, according to Bloomberg, which first reported that the compound would be put up for sale. Though Peabody retired as promised, he denied Morgan the use of his name and capital. In 1902, the Justice Department charged Northern Securities with violating the Sherman Antitrust Act of 1890. By estimates, there were about 150 lavish estates built during that time, the majority of which have been turned into hotels and residential compounds. John Pierpont Morgan 1837-1913 Married in 1861, New York, NY, to Amelia . Wrong username or password. [42], In 1877, Morgan began a semiretirement, cutting back on his schedule and ceding greater authority to his son. WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY. Please refer to the appropriate style manual or other sources if you have any questions. The Morgan family was an American financial and banking dynasty, which became prominent in the U.S. and throughout the world in the late 19th century and early 20th century. When his horses bolted at an oncoming train, Morgan stood to see if his driver could steady the horses. Junius Spencer Morgan (American) The Metropolitan Museum of Art. [23], By 1856, Peabody was confident enough in Morgan to leave him in sole care of the business while Peabody took an extended tour of the United States. contient des milliers de photos et GeneaStars. J. P. Morgan was born and raised in Hartford, Connecticut, to Junius Spencer Morgan (1813-1890) and Juliet Pierpont (1816-1884) of Boston, Massachusetts. In the fall of 1848, Pierpont transferred to the Hartford Public School and then to the Episcopal Academy in Cheshire, Connecticut, (now called Cheshire Academy), boarding with the principal. A man always has two reasons for doing anything: a good reason and the real reason. %PDF-1.3 Geneastars | Facebook. [6], During the Panic of 1837, Morgan traveled the South in an effort to collect the firm's debts, in specie if possible but often in payments of cotton. After finishing his education in 1857, Morgan moved to New York to work as a clerk at Duncan, Sherman & Co., the American branch of his father's firm. In 1836, he married John Pierpont Morgan's mother, Juliet. MORGAN. In 1864, he established J. S. Morgan & Co. in London as the successor to George Peabody & Co., of which he was junior partner. Morgan urged Pierpont to withdraw his name from consideration, and he did. Morgan led a syndicated bond issue of 10,000,000, which the syndicate sold at 15 points below par. Morgan and his partners actively promoted great mergers after 1922 and controlled . J. P. Morgan was born and raised in Hartford, Connecticut, to Junius Spencer Morgan (18131890) and Juliet Pierpont (18161884) of Boston, Massachusetts. Design area: 5 1/4 x 8 7/16 inches (134 x 215 mm) Gift of Mr. John P. Morgan, II. The compound is being offered as a whole, meaning no individual houses are available for sale separately. J.P. Morgan - The Life and Deals of America's Banker: Insight and Analysis into the Founder of Modern Finance and the American . [45], Morgan was "tall with sloping shoulders" and a thickening midriff, a wide face, light blue eyes, a prominent nose, and a firm mouth. He reorganized several major railroads and financed industrial consolidations that formed the United States Steel, International Harvester, and General Electric corporations. Relationship with Timothy Michael Dowling (Sosa/Ahnentafel #1), Relationship with Amelia Sturges (spouse), Relationship with Frances Louisa Tracy (spouse), Browse using this individual as Sosa/Ahnentafel #1, , born in1835, deceased in1862 aged 27years old, , born 15May1845 - New York, deceased 16November1924 - Highland Falls, Orange Co., NY aged 79years old, Sources: Dowling Family Tree - Tim Dowling - rootsweb, 2001-2015 - - electronic - I42066, Marriage (with Amelia Sturges) - New York, NY, List of all individuals in the family tree, {{ 'gw_downgraded_access_back_to_max'|translate }}, Born 17April1837 - Hartford, Hartford Co., CT, Deceased 31March1913 - Rome, Lazio, Italy, At the age of 21, he became a soldier in the company of Captain Josiah Kellogg of Suffield. Margaret Geer Walker lives there, Anonymous @ 2021-02-06 20:05:03 . "The Print in the North," May 6 . In 1870, after the Battle of Sedan and the establishment of a provisional French Third Republic in Tours, Barings and Rothschilds were unwilling to establish a line of credit for the new government. L'arbre One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations. Junius Spencer Morgan III married Emma Louise Converse and had 2 children. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. Beebe, Morgan and Co., became one of the largest dry-goods establishments in the United States. contains thousands of pictures and GeneaStars. In one early example of his ingenuity, Morgan was in New Orleans for business when he encountered a ship captain with a boatload of coffee and no buyer. Married 2 May 1836 to Juliet Pierpont, born 30 July 1816 - Baltimore, Baltimore Co., MD, deceased 23 February 1884 aged 67 years old (Parents : John C. Pierpont, Rev. Junius Origin and Meaning The name Junius is boy's name of Latin origin meaning "born in June". Thanks for your cooperation! Railroad securities were further weakened by the Credit Mobilier scandal. Morgan's grandson later recalled this as "at that time, the bitterest disappointment of his life". He helped to achieve railroad rate stability and discouraged overly chaotic competition in the East. Within a year, the business struggled sufficiently that Joseph Morgan had to bail his son out and dissolve the partnership. [2], The Morgan name is traced to Carmarthen, Wales, with his earliest known ancestor being Hyfaidd ap Bleddri, third son of Bledri ap Cydifor of Wales. By gaining control of much of the stock of the railroads that he reorganized, he became one of the worlds most powerful railroad magnates, controlling about 5,000 miles (8,000 km) of American railroads by 1902. As they sailed up and down the Hudson River, Morgan made it clear that the yacht would not return to port until they reached a compromise that fostered suitable competition. Inscription: Signed in pen and black ink, at lower right, "Junius March 10 / 1902". Meanwhile, Pierpont struck up a new romance with Frances Louisa "Fanny" Tracy, the daughter of a New York lawyer. He passed away on 19 Oct 1960 in Simcoe, Norfolk, Ontario. The firm soon became a major player in the steel industry by financing the formation of Federal Steel in 1898. J.P. Morgan cofounded (1871) the banking company Drexel, Morgan and Company. The ship subsequently sank with great loss of life. Today it is the Morgan Library & Museum . The French prepaid the bonds in 1873, following the war, which brought their value up to par and netted Morgan 1,500,000 profit, which propelled J.S. Although he twice bailed out the U.S. Treasury, his ability to do so left many unsettled, spurring the creation of the Federal Reserve System in late 1913. He died on Monday, March 31, 1913 in Rome, Italy while attending a yacht racing event. In semi-retirement by the time the crisis was resolved, Morgan devoted much of his energy to his art collection and philanthropy. His paternal grandfather, Joseph, was a founder of the Aetna Insurance Company, and his father, Junius, became a partner in a successful dry goods business around the time he married Juliet. J.P. Morgan, in full John Pierpont Morgan, (born April 17, 1837, Hartford, Connecticut, U.S.died March 31, 1913, Rome, Italy), American financier and industrial organizer, one of the world's foremost financial figures during the two pre-World War I decades. Outgoing letters are addressed to her sister, Mary Kirkland Tracy. Junius Spencer Morgans manor, named Salutation, is one of the few remaining estates still privately owned. junius spencer morgan great grandchildren. In the course of these corporate restructurings, Morgan became a member of the board of directors of these and other railroads, thereby amassing great influence on them. Junius Spencer Morgan 1846 - 1858. Updates? Please try again. Great though his resources were, Morgan could not finance such enormous sales of stocks and bonds entirely through his own and his father's partnerships.
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