He reorganized several major railroads and financed industrial consolidations that formed the United States Steel, International Harvester, and General Electric corporations. In 1907, Morgan again was called to aid the U.S. government in the grips of economic panic. Junius Morgan book. After the death of his wife Juliet in 1884, he withdrew further from business. The assets of the House of Morgan fell 40% from $704 million to $425 million. Linked to: Timothy Michael Dowling, 6th cousin 5x removed, {{ mediasCtrl.getTitle(media, true) }} Quick access. It was not really a question of price. 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. Get a Britannica Premium subscription and gain access to exclusive content. In October 1858, Field's cable broke, delaying the project's completion another eight years until 1866. Junius Spencer Morgan was born on April 14, 1813 in Holyoke, Massachusetts. Sarah Spencer Morgan (1893-1949), married Henry B. Gardner (1891-1932) in 1913. Sitelinks. 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. He returned to the United States in 1857, and entered the banking-firm of Duncan, Sherman and Co., of New York. Also in 1901, Morgan teamed with James J. Hill to form the Northern Securities Company. [4] [5] Career. The immense scope of Morgan's power came to light in the wake of the Panic of 1893. We are all related! He married in 1836 Juliet, daughter of John Pierpont, the poet (q. Margaret Geer Walker lives there, Anonymous @ 2021-02-06 20:05:03 . 1981.2:2 . Cloudy and con- tii.upd cool Warren Temp.. Hig-h iO: Low 35. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. [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. When Sarah Spencer Morgan was born on 5 December 1839, in Hartford, Hartford, Connecticut, United States, her father, Junius Spencer Morgan Sr., was 26 and her mother, Juliet Pierpont, was 23. Find Junius Spencer Morgan stock photos and editorial news pictures from Getty Images. [20][21] Morgan was placed in charge of much of the firm's iron portfolio, which included the marketing of railroad bonds in both New York and London. If so, login to add it. . The map below shows the places where the ancestors of the famous person lived. All property prices are as stated by the listing agent. [64], In February 1842, his father-in-law John Pierpont was suggested as a leading candidate for the Liberty Party nomination for Governor of Massachusetts. His father, Junius Spencer Morgan, was a businessman of note who had high expectations for his son Pierpoint and started training him at a very early age. [1] Career Select from premium Junius Spencer Morgan of the highest quality. 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. .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. 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. WARREN TIMES-MIRROR The Only Paper in Many Hom es Th One Paper in Most Honnes (>0()l> E \ ENTNG Hincp .scientists are so good at digging up things, we suggest tliey turn their efforti- to more ration points. Shares the stories you may have missed from the world of luxury real estate. Family Members He began working for his father at a young age and attended the University of Gottingen, a German language school. 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. Peabody pledged the bank could continue to use his name and if necessary, some capital. gnalogique Dowling avec plus d'un demi-million de parents, Nous sommes tous [5], Soon thereafter, Morgan's father secured him a new partnership at Morris Ketchum's private bank on Wall Street, renamed Morgan Ketchum & Co. [66][67], At his funeral, the pallbearers were Roland Mather, Levi P. Morton, Anthony Joseph Drexel, Chauncey M. Depew, Cornelius Vanderbilt II, J. C. Rogers, J. Kearney Warren, and Edward John Phelps. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. In 1886 he reorganized two more major railroads with the aim of stabilizing their financial base. Philanthropist, Industrialist, Businessman, American financier, banker, philanthropist and art collector, Born on April 17, 1837 We may earn commission from links on this page, but we only recommend products we back. John Pierpont Morgan was born in the spring of 1837 to Junius Spencer Morgan and Juliet Pierpont. Junius Spencer Morgan (April 14, 1813 April 8, 1890) was an American banker and financier, born at West Springfield (now Holyoke), Massachusetts, USA. 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. Let us know if you have suggestions to improve this article (requires login). [35], Still, Morgan was ambitious to place his bank on par with the Rothschilds and Barings Bank. "[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. Save Page Now. 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." . By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American industries. Junius Spencer Morgans father J.P. Morgan II, an influential financier himself, had an estate in the area, which was nicknamed the Gold Coast for its show of opulence at the turn of the 20th century. The compound is being offered as a whole, meaning no individual houses are available for sale separately. They married in May 1865 and had four children, with son John Pierpont "Jack" Morgan Jr. going on to take over his father's business many years later. There is a "921 PPP Without Project Account and without ProjectBox" error that needs corrected. 100 J P Morgan Quotes (John Pierpont Morgan Quotes) 1 2 3. Have you taken a DNA test? When American grain (and consequently rail) prices fell dramatically after the resolution of the Franco-Prussian War, Cookes heavy investment in the Northern Pacific Railway was no longer sufficient to meet liabilities. Though Peabody retired as promised, he denied Morgan the use of his name and capital. 3I. Thanks for your cooperation! {{ media.date_translated }}, {{ asCtrl.bannerRights.content|translate }}, The Geneanet family trees are powered by Geneweb 7.0. He attended Harvard University during the early-to-mid 1880s. In October 1861, Morgan married Amelia Sturges in Manhattan, New York. Following a decade of railroad consolidation, he broke new ground by arranging the merger of Edison General Electric and Thomson-Houston Company to form General Electric in 1892. lis! 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. 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. He then acquired control of many leading financial and insurance companies. 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. Underscoring his influence in the industry, Morgan in 1885 arranged a meeting with the feuding directors of the New York Central and Pennsylvania Railroad aboard his yacht, the Corsair. J. P. Morgan. Junius is one of those names that's growing on us, along with many of its Roman countrymen such as Julius and Atticus. Family Life JP Morgan Jr. married Jane Norton Grew. 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. His first venture, in 1891, was to arrange the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric, which became the dominant electrical-equipment manufacturing firm in the United States. Also contains a letter from Junius Spencer Morgan to J. Pierpont Morgan 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. If so, login to add it. J. P. Morgan was born and raised in Hartford, Connecticut, to Junius Spencer Morgan (18131890) and Juliet Pierpont (18161884) of Boston, Massachusetts. Morgan used his company's funds to purchase the coffee, and then sold it to local merchants for a profit. When his horses bolted at an oncoming train, Morgan stood to see if his driver could steady the horses. 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) In 1836, he married John Pierpont Morgan's mother, Juliet. Junius Spencer Morgan I. All for $5.95M https://t.co/apeTdEMi21 pic.twitter.com/Ttwvmu2BTU.