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Harper's Encyclopedia of United States History (ed. Benson Lossing) 4 0 Browse Search
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Harper's Encyclopedia of United States History (ed. Benson Lossing), Morgan, John Pierpont 1837- (search)
Morgan, John Pierpont 1837- Capitalist; born in Hartford, Conn., April 17, 1837; son of Junius Spencer Morgan (born April 14, 1813; died April 8, 1890); was educated in the English High School of Boston, and at the University of Gottingen. Germany. Returning to the United States in 1857 he entered the banking-house of Duncan, Sherman & Co., and in 1860 became American agent of the London house of George Peabody & Co. In 1871 he became a partner in the firm of Drexel, Morgan & Co., whichMorgan & Co., which later became J. Pierpont Morgan & Co. Mr. Morgan's firm has been conspicuous for many years in the reorganization of large industrial and railroad interests, and as syndicate managers. In 1895 the firm agreed to supply the United States government with 3,500,000 ounces of standard gold coin at the rate of $17.80 per ounce, for thirty-year 4-per-cent. bonds, and later in the year, when the financial situation again became alarming, the firm organized a syndicate which took $37,911,350 of a new