JP Morgan Essay -- essays papers

JP MorganJohn Pierpont Morgan is considered one of the founding fathers of the modern United States economy. He was an industrial genius that is accredited with the founding of legion(predicate) companies including General Electric and AT&T. However, Pierpont is looked upon as a saint and demon the same. He received a honorary degree from Harvard university that read Public citizen, helper of literature and art, prince among merchants, who by his skill, wisdom and courage, has twice in times of stress repelled a national danger of financial panic. But Robert LaFollette, the Wisconsin progressive, saw him as a beefy, red-faced thick-necked financial bully, drunk with wealth and power. Despite conflicting opinion on his persona, his influence and character shaped the concern world more so than any other person at the turn of the century. Morgan was a banker, railroad czar, industrialist, financier, philanthropist, yachtsman, and ladies man. He was king to a handful of millionaire barons who controlled the countrys wealth in an era of teeny government regulation. The wealth of the Morgan family did not begin with Pierpont but with his grandfather Joseph Morgan. Joseph prospered as a hotelkeeper in Hartford, Connecticut. He helped to organize a canal company, steamboat lines and the immature railroad that connected Hartford with Springfield. Finally he became one of the founders of the Aetna Fire Insurance Company. Josephs first son was Junius Spencer Morgan, also destined for the life of a businessman. He spent a number of years as a dry-goods merchant before moving to Boston and into the foreign trade business. Junius was invited to join the firm of George Peabody & Co. in 1854. In 1864 Junius took over the Peabody Company and changed the name to J.S. Morgan & Co. John Pierpont Morgan was born on April 17, 1837 in Hartford, Connecticut. He was nicknamed Pip by his childhood friends. The family prospered in Hartford until Junius locomote the family to Bo ston where Pip began Boston English High. He did well in the prestigious high educate and then in his second high school in Vevey, Switzerland. The family moved to London and John transferred to the University of Gottingen in Germany. John continued to excel in his studies and majored in mathematics. He began to become interested in business affairs as he started and investing club amongst his friends and... ...l Company, the National Tube Company and the American Bridge Company. One of Morgans most famous business deals was the fundamental law of the United States Steel Corporation in 1901. Morgan collaborated with Elbert Gary and John Gates to consolidate different steel companies to form a supercombination. The U.S Steel Corporation was BibliographyAllen, Frederick Lewis. The Great Pierpont Morgan. brisk York Harper & Brothers, 1949.Grant, Peter. The Giant J.P. Morgan and The Panic of 1907. The young York Daily News 20 Mar. 1998 49 J. P. Morgan. Dictionary of American Biogra phy. New York Charles Scribners and Sons, 1934. Vol. 7 J. P. Morgan. International Directory of Company Histories. pelf St. Jamess Publishing, 1990. Vol. 2Mooney, Richard. Banker of America. The Boston Globe 4 Apr. 1999 L1 Powerful house of Morgan Changes with the Times. The San Diego Union-Tribune 24 Feb. 1986 18 Sinclair, Andrew. Corsair The Life of J. Pierpont Morgan. Toronto Little, Brown and Company, 1981.Strouse, Jean. Morgan American Financier. New York Random House, 1999.Winkler, John. Morgan the Magnificent. New York Garden City Publishing, 1930.www.jpmorgan.com