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Pierpont, as he preferred to be known, had a varied education, due in part to interference by his father, Junius. We may earn commission from links on this page, but we only recommend products we back. [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. Nous sommes tous MORGAN. With U.S. gold reserves seriously depleted, Morgan formed a syndicate of international investors willing to supply gold in exchange for a favorable rate on 30-year bonds. 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 worlds foremost financial figures during the two pre-World War I decades. When Junius Spencer Morgan III was born on 15 March 1892, in London, England, United Kingdom, his father, John Pierpont "Jack" Morgan Jr., was 24 and his mother, Jane Norton Grew, was 23. [13], By February 1851, Morgan sold his stake in Howe & Mather for $600,000 and moved to Boston's Pemberton Square. In accordance with the legal provisions, you can ask for the removal of your name and the name of your minor children. Junius Spencer Morgan I (14 Apr 1813 - 8 Apr 1890) 0 references . He started his own private banking company and bought railroads, becoming one of the world's largest steel distributors. Updates? We are all related! 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. Morgan was born on April 14, 1813, in Holyoke, Massachusetts to Joseph and Sarah Morgan. 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. Morgan's grandson later recalled this as "at that time, the bitterest disappointment of his life". [35], Still, Morgan was ambitious to place his bank on par with the Rothschilds and Barings Bank. John Pierpont Morgan was born into a prominent New England family on April 17, 1837, in Hartford, Connecticut. I don't want a lawyer who tells me what I can't do. Geneastars | Facebook. 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. They were the parents of at least 2 sons and 1 daughter. He received an A.B. In 1903, J.P. Morgan & Co. was appointed fiscal agent for a newly independent Panama, with responsibilities that included overseeing the transfer of $40 million to the New Panama Canal Co. In 1907, Hartford-born J. Pierpont "J.P." Morgan, a Gilded Age banking tycoon, proposed building the Junius Spencer Morgan Memorial in his father's honor. . If not, see our friends at Ancestry DNA. In 1864, he established J. S. Morgan & Co. in London as the successor to George Peabody & Co., of which he was junior partner. Following the death of Drexel that year, Pierpont again reorganized his company into J.P. Morgan & Co. Junius Spencer Morgan I. This firm was reorganized as J.P. Morgan and Company in 1895, and, largely through Morgans ability, it became one of the most powerful banking houses in the world. J. P. Morgan was born and raised in Hartford, Connecticut, to Junius Spencer Morgan (1813-1890) and Juliet Pierpont (1816-1884) of Boston, Massachusetts. L'arbre 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. John Pierpont Morgan 1837-1913 Married in 1861, New York, NY, to Amelia . 1981.2:2 . In 1845, his father invested an additional $25,000 in the firm on Junius's behalf. [14], On May 15,[16] 1853, at the recommendation of James Beebe, Morgan visited the American banker George Peabody in London. He attended Harvard University during the early-to-mid 1880s. He worked at his father's bank, Peabody, Morgan & Co., and later the firms of Duncan, Sherman & Company and Dabney, Morgan, and Company. 1844 d. 1919. John Pierpont Morgan was an American financier and investment banker during the Gilded Age. 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. [9], Soon after inheriting a fortune from his father's estate in 1847,[10] Morgan was named senior partner at the rechristened Mather Morgan & Co.[11] In 1850, he took a trip to London to meet with some of that city's leading merchant bankers, in hopes that he might expand his own firm into foreign trade and banking. Junius S. Morgan III, U.S.N., of 'Salutation' Glen Cove, Long Island, N.Y. zoom_in 2 images. Have you taken a DNA test? 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. gnalogique Dowling avec plus d'un demi-million de parents, Peabody also forced unfavorable terms on Morgan's lease of the bank's 22 Old Broad Street offices. If so, login to add it. 2008 - 2023 INTERESTING.COM, INC. 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." . CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. Today it is the Morgan Library & Museum . . 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) Wife/Partner: Juliet PIERPONT Children: John Pierpont MORGAN ; Mary Lyman (m. Walter Hayes Burns) The executives eventually agreed to terms in what became known as the Corsair Compact. He was not related to Edwin D. Morgan, a prominent Hartford and New York banker and merchant of the same era who became Governor of New York. The Morgan Memorial served as a prototype for the Pierpont Morgan wing of the Metropolitan Museum of Art. Mother Sarah Sally Spencer Morgan. Find Junius Spencer Morgan stock photos and editorial news pictures from Getty Images. Brother of Archilles Morgan; Lucy Goodwin and Mary Morgan, http://en.wikipedia.org/wiki/Junius_Spencer_Morgan. Philanthropist, Industrialist, Businessman, American financier, banker, philanthropist and art collector, Born on April 17, 1837 Juliet Pierpont Morgan (18471923), who was the mother of John Junius Morgan (d. 1952). Husband of Juliet Morgan In 1836, he married John Pierpont Morgan's mother, Juliet. He reorganized several major railroads and became a powerful railroad magnate. Enter a grandparent's name. 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. from Harvard University in 1914. 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. "To acquire an entire island of this magnitude and beauty is a once-in-a-lifetime opportunity," Ms. Devendorf said, adding that it lies within an hours drive from New York City (the island has a private causeway connecting to the mainland) and is less than 30 minutes by air or sea to the city. The Beaux-Arts Morgan Memorial of 1910-15 was designed by Benjamin Wistar Morris. In time Junius allowed friends to build on the island. 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. Though Peabody retired as promised, he denied Morgan the use of his name and capital. Under this name the house has grown in strength and influence until at present it ranks among the great banking-houses of the world. He returned to the spotlight one final time in 1912, when he testified before the Pujo Committee's congressional investigation into the collaborations of Wall Street bankers. contient des milliers de photos et GeneaStars. The assistant librarian was Junius Spencer Morgan, nephew of wealthy financier J. P. Morgan. If so, login to add it. A man I do not trust could not get money from me on all the bonds in Christendom. John Pierpont Morgan (April 17, 1837 - March 31, 1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. J.P. Morgan cofounded (1871) the banking company Drexel, Morgan and Company. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. 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. 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. Morgan Family. Omissions? [25], Peabody declined a conditional bailout from the major London houses which would have closed the firm, instead receiving an emergency line of credit of 800,000 from the Bank of England. Within a year, the business struggled sufficiently that Joseph Morgan had to bail his son out and dissolve the partnership. 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. 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. 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. Design area: 5 1/4 x 8 7/16 inches (134 x 215 mm) Gift of Mr. John P. Morgan, II. It was a question of success. A sickly child who suffered seizures and other mysterious ailments, Pierpont, as he was known, spent long periods sheltered at home. The PEDIGREE of Junius Spencer MORGAN (major banker; founder & eponym of J.S. Morgan & Co., House of Morgan) Born: 1813 Died: 1890 d. after carriage accident Gen. Pierpont Hamilton's Great-Grandfather. junius spencer morgan junius spencer morgan. "Go as far as you can see; when you get there, you'll be able to see farther. By estimates, there were about 150 lavish estates built during that time, the majority of which have been turned into hotels and residential compounds. He died on Monday, March 31, 1913 in Rome, Italy while attending a yacht racing event. Charcoal and stumping on wove paper. By the early 1900s, Morgan was the main force behind the Trusts, controlling virtually all the basic American industries. From about 1836 to 1853, he was in the dry-goods business. xZnH}WA'd6;O$6'vO@^JdISkbHMa,x[~0=n1?X)7_+qVEEMXXww4Lsv1Mn.cqn^U$Xu%*9Id)]Jofwew Sw[:g0v=}!][m2"g coy/;_-vyzeKA^ZXI90p/>v0`9^L\Pz?/&opME4qB5,7~iMMnbx/_?c1ouGQEQ|gg &HrI(yM^?;eT'QSl#c' O#. Nathaniel's son, Joseph Morgan, was the fifth of seven children. [47] He had a "dry wit and genial manor and employed iron discipline." To commemorate his passing, the New York Stock Exchange remained closed until noon on the day of his funeral. Morgan & Co. into the upper ranks of international finance. Leave a message for others who see this profile. There is a "921 PPP Without Project Account and without ProjectBox" error that needs corrected. [7][6] He remained at the firm until his father's death in 1847. GREAT NEWS! Junius Origin and Meaning The name Junius is boy's name of Latin origin meaning "born in June". TH E W E A TH E R Snow or rain. 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. [40], In 1873, Morgans American presence dramatically increased after the failure of Jay Cookes banking empire. In book thirteen of Revelation, John describes two beasts: one that emerges from the sea and has seven heads, and another that springs from the earth and empowers the bigger beast. He took on a prominent role in London society, hosting many social gatherings at his homes on Hyde Park and at Roehampton.[32][33]. Wrong username or password. Through a system of interlocking memberships on the boards of companies he had reorganized or influenced, Morgan and his banking house achieved a top-heavy concentration of control over some of the nations leading corporations and financial institutions. Morgan III. Son of Joseph Morgan III and Sally (Spencer) Morgan. 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 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. Letter from her son, J.P. Morgan, Jr., dated Oct. 1891 describes the family's new yacht, Corsair. Their relationship, though separated by an ocean and wildly divergent personalities, was close. I hire a lawyer to tell me how I can do what I want to do! After college, Junius Morgan worked as a New York banker, retiring from the field as a partner in the firm of Cuyler, Morgan & Co. in 1906. 5 0 obj The compound is being offered as a whole, meaning no individual houses are available for sale separately. pentecostal assemblies of the world ordination; how to start a cna school in illinois Joseph personally bought the stakes of Aetna investors who hesitated to pay on the policies. In 1861 Morgan became the agent for his fathers banking company in New York City. Also in 1901, Morgan teamed with James J. Hill to form the Northern Securities Company. 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. Meanwhile, Pierpont struck up a new romance with Frances Louisa "Fanny" Tracy, the daughter of a New York lawyer. [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. While every effort has been made to follow citation style rules, there may be some discrepancies. 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. Contents Early life Career Personal life References Early life Morgan was born on April 14, 1813 in Holyoke, Massachusetts. "If you have to ask how much it costs, you can't afford it." 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. With his son's aid, Morgan grew his banking house into a trans-Atlantic financial empire that included firms in London, New York City, Philadelphia, and Paris. However, despite Morgan's best efforts to nurse his bride back to health, she passed away in February 1862. 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. Beebe, Morgan and Co., became one of the largest dry-goods establishments in the United States. After the death of his wife Juliet in 1884, he withdrew further from business. 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 . 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. Morgan's Death. He helped to achieve railroad rate stability and discouraged overly chaotic competition in the East. discoveries. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. They maintained a twice-weekly correspondence for thirty-one years, which Pierpont burned in 1911.[58]. aged 75years old. [44] By the 1880s, Junius's health began to fade, and he stepped back from day-to-day business. Biography and associated logos are trademarks of A+E Networksprotected in the US and other countries around the globe. DISCLAIMER: The currency conversion is provided for illustration purposes only. While Philadelphia banker Jay Cooke and those Wall Street banks with German ties made a bonanza during the war, Peabody & Co. had modest profits by comparison. They were the . Father Joseph Morgan (Spencer) II. Morgan urged Pierpont to withdraw his name from consideration, and he did. A man always has two reasons for doing anything: a good reason and the real reason. Northern Securities held the majority of shares in the Northern Pacific, the Great Northern and the CB&Q railroads, giving Morgan control of approximately one-third of the country's railways. Birth 14 April 1813 - West Springfield, Massachusetts. 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. 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. He received and A.B. The Morgan Mansion was built in 1897 by Junius Spencer Morgan and Josephine Perry Morgan. He also purchased Dover House in Roehampton. examples of olympic values Likes. % He married Emma Louise Converse on 16 June 1915, in Saint Pauls Episcopal Church, Millis, Norfolk, Massachusetts, United States. Mountain Landscape with Bridge over Waterfall. 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, Morgan's astounding success transformed the financial industry and left behind a powerful legacy. The . [60], He contributed money to the Hartford Free Library,[61] his church and to Trinity College, Hartford. Husband of Juliet (Pierpont) Morgan married 2 May 1836 in Hartford, Hartford County, Connecticut. Corrections? Submit a correction or make a comment about this profile. All for $5.95M https://t.co/apeTdEMi21 pic.twitter.com/Ttwvmu2BTU. Born on December 3, 1702, Joseph began to learn to weave at a young age. Descendants. 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. Father of John Pierpont Morgan, Sr.; Sarah Spencer Morgan; Mary Lyman Burns; Junius Spencer Morgan and Juliet Morgan Morton. Username and password are case sensitive. Morgan was also among the foremost collectors of art and books of his day; his book collection and the building that housed it in New York City are now The Pierpont Morgan Library. " Sorry! Having ceased to undertake large industrial reorganizations, Morgan thereafter concentrated on amassing control of various banks and insurance companies. The largest online newspaper archive; 22,800+ newspapers from the 1700s-2000s; Millions of additional pages added every month WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY. Leave a message for others who see this profile. Morgan's entire island of 45 acres, 12-bedroom manor house, five additional residences, an eight-stall stable, paddocks and a groomsman's cottage have recently been put on the market. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. Samuel Spencer (1670 - 1756), my sixth great grandfather, and Morgan's third great grandfather. Junius Spencer Morgan III married Emma Louise Converse and had 2 children. Three years later, after purchasing Andrew Carnegies steel company for nearly $500 million, Morgan merged the entities into U.S. Steel, creating the first billion-dollar corporation. Junius Spencer Morgan, 1813-90, b. In 1915, he married Louise, daughter of the celebrated composer Frederick S. Converse and a great-granddaughter of the "Ice King" Frederic Tudor. After being recommended, Greene met with Morgan in 1905, and was hired . He spent winters at the Villa Henriette in Monte Carlo. << /Length 6 0 R /Filter /FlateDecode >> Seeking to stabilize a series of collapsing trust banks, he called several bank presidents to his Manhattan library, and, in an echo of his Corsair meeting of 1885, locked the door until a solution could be reached. walmart springfield, mo tire and lube hours . [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. Capture a web page as it appears now for use as a trusted citation in the future. [39], Morgan was now the wealthiest American banker in London and moved into a Knightsbridge mansion facing the south side of Hyde Park. In 1887 he gave a large and valuable painting, by Sir Joshua Reynolds, which he had purchased for that purpose, to the Metropolitan museum of art in New York city. 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. in Hartford, Connecticut, USA , United States, Died on March 31, 1913 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. His success emboldened him to strike out on his own, and he continued to work with his father after founding J. Pierpont Morgan & Co. in the early 1860s. [17], Morgan's initial task was to strengthen and develop the firm's principal American accounts, using his first-hand knowledge of and connections to American business which Peabody, who had moved to London in 1836, lacked. 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. 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. Lucy was the mother of James J. Goodwin and the Rev. 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. [3], Junius's father Joseph was a soldier in the Revolutionary Army and farmer in West Springfield, Massachusetts. All charts include source citations for ancestors in the charts. Please enable JavaScript in your browser's settings to use this part of Geni. Junius Spencer Morgan. Morgan. Railroad securities were further weakened by the Credit Mobilier scandal. Junius Spencer Morgan (April 14, 1813 April 8, 1890) was an American banker and financier, born at West Springfield (now Holyoke), Massachusetts, USA.