As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. Joseph Morgan (Grandfather of J. Pierpont Morgan) Biography archive.org Philanthropist, Industrialist, Businessman, American financier, banker, philanthropist and art collector, Born on April 17, 1837 Upon his father's death, he inherited part of Chicopee Field. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. [60], He contributed money to the Hartford Free Library,[61] his church and to Trinity College, Hartford. The son of a successful financier, Junius Spencer Morgan (181390), John Pierpont Morgan was educated in Boston and at the University of Gttingen. Junius Origin and Meaning The name Junius is boy's name of Latin origin meaning "born in June". junius spencer morgan junius spencer morgan - bobesich.ca He then reassured a skeptical President .css-47aoac{-webkit-text-decoration:underline;text-decoration:underline;text-decoration-thickness:0.0625rem;text-decoration-color:inherit;text-underline-offset:0.25rem;color:#A00000;-webkit-transition:all 0.3s ease-in-out;transition:all 0.3s ease-in-out;}.css-47aoac:hover{color:#595959;text-decoration-color:border-link-body-hover;}Grover Cleveland by citing an obscure 1862 statute that gave the Secretary of the Treasury the power to pull off such a transaction without congressional approval. At the age of 13, he was enrolled at the American Literary, Scientific, and Military Academy (now Norwich University) in Middletown, Connecticut near the home of his mother's parents. The firm soon became a major player in the steel industry by financing the formation of Federal Steel in 1898. Banker J. P. Morgan Born - This Month in Business History - Research Save Page Now. 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. The assistant librarian was Junius Spencer Morgan, nephew of wealthy financier J. P. Morgan. 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. Early Years and Father's Death JP Morgan: Progressive Era Having ceased to undertake large industrial reorganizations, Morgan thereafter concentrated on amassing control of various banks and insurance companies. He married in 1836 Juliet, daughter of John Pierpont, the poet (q. Sitelinks. J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. Thanks for your cooperation! It is meant only as an approximation based on the latest information available and should not be relied upon for any other purposes. Just one grandparent can lead you to many We are not responsible for any loss that you may incur as a result of relying on these currency conversions. lis! Please try again. J.P. Morgan - The Life and Deals of America's Banker: Insight and Analysis into the Founder of Modern Finance and the American Banking System (Business Biographies and Memoirs - Titans of Industry) [MacGregor, JR] on Amazon.com. In accordance with the legal provisions, you can ask for the removal of your name and the name of your minor children. John Pierpont Morgan Jr. (1867-1943) . The Dowling Family Tree with over half a million relatives, [10] [14] During the Great Depression he took heavy financial losses. Enter a grandparent's name. [2] He grew up in New York and received an education that focused on math and history, as well as German and French, as his father believed there was great value in those subjects. Peabody also forced unfavorable terms on Morgan's lease of the bank's 22 Old Broad Street offices. J P Morgan. 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. 5 0 obj Father Joseph Morgan (Spencer) II. You can't pick cherries with your back to the tree. .css-m6thd4{-webkit-text-decoration:none;text-decoration:none;display:block;margin-top:0;margin-bottom:0;font-family:Gilroy,Helvetica,Arial,Sans-serif;font-size:1.125rem;line-height:1.2;font-weight:bold;color:#323232;text-transform:capitalize;}@media (any-hover: hover){.css-m6thd4:hover{color:link-hover;}}Elon Musk. Junius Spencer Morgan I (April 14, 1813 April 8, 1890) was an American banker and financier, as well as the father of John Pierpont "J.P." Morgan and patriarch to the Morgan banking house. [5], Soon thereafter, Morgan's father secured him a new partnership at Morris Ketchum's private bank on Wall Street, renamed Morgan Ketchum & Co. 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. The House of Morgan: An American Banking Dynasty and th GREAT NEWS! Touring the world with friends one mile and pub at a time; southlake carroll basketball. Kindle $10.99 Rate this book The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance Ron Chernow 3.94 10,223 ratings515 reviews The winner of the National Book Award and now considered a classic, The House of Morgan is the most ambitious history ever written about an American banking dynasty. 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. Morgan urged Pierpont to withdraw his name from consideration, and he did. On November 8, a dinner was hosted in his honor at Delmonico's, with Samuel Tilden, John Jacob Astor, and Theodore Roosevelt Sr. among the guests. The immense scope of Morgan's power came to light in the wake of the Panic of 1893. In 1860 he became agent and attorney in the United States for George Peabody and Co., of London, which relation he has since held with that firm and its successor. [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. Junius Spencer Morgan - Wikipedia His sister, Lucy Morgan (d. 1890) was married to Major James Goodwin, one of the founders, and a president for many years, of the Connecticut Mutual Life Insurance Company. Born on December 3, 1702, Joseph began to learn to weave at a young age. He was generally emotionless, and his friend George Smalley praised his "grave, strong beauty" and his "eyes full of light" but a face that ended in an "immovable jaw. Morgan members were notable for dominating the banking industry during . About: Junius Spencer Morgan - dbpedia.org Morgan's Death. Junius Spencer Morgan, III won (41%) against 2 opponents. In 1886 he reorganized two more major railroads with the aim of stabilizing their financial base. [65], On April 3, 1890, Morgan took an afternoon carriage ride through Monte Carlo. Your Privacy Choices: Opt Out of Sale/Targeted Ads, Name: John Pierpont Morgan, Birth Year: 1837, Birth date: April 17, 1837, Birth State: Connecticut, Birth City: Hartford, Birth Country: United States. Two years later, in 1892, Jack Morgan returned to the US and became a partner at Drexel, Morgan & Co., the bank his father co-founded with Pittsburgh banker Anthony Drexel. [46], Morgan was, like his son, intensely private. From 1854, he was partner, with George Peabody, in the English banking house of George Peabody & Co. As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. A man always has two reasons for doing anything: a good reason and the real reason. [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. 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. Hearst Magazine Media, Inc. Site contains certain content that is owned A&E Television Networks, LLC. Brother of Archilles Morgan; Lucy Goodwin and Mary Morgan, http://en.wikipedia.org/wiki/Junius_Spencer_Morgan. "[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. Junius Spencer Morgan III Wikipedia Republished // WIKI 2 Described as a coldly rational man, Morgan began reorganizing railroads in 1885, becoming a board member and gaining control of large amounts of stock of many of the rail companies he helped restructure. *FREE* shipping on qualifying offers. discoveries. He died in Rome in 1913, leaving behind a world-renowned art collection and a business that remained a financial powerhouse into the 21st century. He was of Hartford, Conn., but later associated with the Banking-house of Peabody & Morgan of London, England, where he resided many years. A man I do not trust could not get money from me on all the bonds in Christendom. Beebe, Morgan and Co., became one of the largest dry-goods establishments in the United States. Full text of "Cynthiana democrat (The), 2014-10-16" He spent winters at the Villa Henriette in Monte Carlo. [5] He made a fortune with Aetna in 1835, when Aetna covered Wall Street firms destroyed in the Great Fire of New York. Mother Sarah Sally Spencer Morgan. discoveries. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. At his death, in 1890, he left a fortune estimated at about $10,000,000. J.P. Morgan - Life, Family & Philanthropy - Biography 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. The Virginian-Pilot from Norfolk, Virginia on September 28, 1962 38 << /Length 6 0 R /Filter /FlateDecode >> Continuing with this request will add an alert to the cemetery page and any new volunteers will . Although both Junius Spencer Morgan and his son, J. P., were indeed great art collectors, their 25-year obsession with acquiring the Thomas Gainsborough portrait of the former Georgiana Spencer . Junius Spencer Morgan III (1892-1960) FamilySearch Morgan Family. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. 1844 d. 1919. 2008 - 2023 INTERESTING.COM, INC. Please refer to the appropriate style manual or other sources if you have any questions. He began reorganizing railroads in 1885, when he arranged an agreement between two of the largest railroads in the country, the New York Central Railroad and the Pennsylvania Railroad, that minimized a potentially destructive rate war and rail-line competition between them.