In 1845, his father invested an additional $25,000 in the firm on Junius's behalf. Just one grandparent can lead you to many Junius Spencer Morgan, 1813-90, b. 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. Notable with 921 PPP Without Project Account and without ProjectBox, http://www.brainyquote.com/quotes/authors/j/j_p_morgan.html, http://www.netstate.com/states/peop/people/ct_jpm.htm, http://www.pbs.org/wgbh/amex/1900/peopleevents/pande10.html, http://www.adr.com/Home/DisclaimerAndAgreement.aspx, http://www.biography.com/articles/John-Pierpont-Morgan-9414735, Cedar Hill Cemetery, Hartford, Connecticut. He started his own private banking company and bought railroads, becoming one of the world's largest steel distributors. John Pierpont Morgan Jr. (1867-1943) . 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. in Hartford, Connecticut, USA , United States, Died on March 31, 1913 By estimates, there were about 150 lavish estates built during that time, the majority of which have been turned into hotels and residential compounds. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. 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. He was named after his maternal grandfather, and much like his Uncle Pierpont, he was a great collector. Brother of Archilles Morgan; Lucy Goodwin and Mary Morgan, http://en.wikipedia.org/wiki/Junius_Spencer_Morgan. Between now and Wednesday is a good time to take a look at the sources and biography to see if there are updates and improvements that need made, especially those that will bring it up to WikiTree Style Guide standards. His paternal grandfather, Joseph, was a founder of the Aetna Insurance Company, and his father, Junius, became a partner in a successful dry goods business around the time he married Juliet. John Pierpont Morgan was born in the spring of 1837 to Junius Spencer Morgan and Juliet Pierpont. [38], Another windfall arrived at Morgan's doorstep that same year when Philadelphia's Anthony Drexel proposed an affiliation with J. S. Morgan & Co. Drexel was then Philadelphia's second power in government finance after Jay Cooke. In 1886 he reorganized two more major railroads with the aim of stabilizing their financial base. discoveries. Hearst Magazine Media, Inc. Site contains certain content that is owned A&E Television Networks, LLC. Junius Spencer Morgan I was an American banker and financier, as well as the father of John Pierpont "J.P." Morgan and patriarch to the Morgan banking house. contient des milliers de photos et GeneaStars. Dowling contains thousands of pictures and GeneaStars. This article was most recently revised and updated by, https://www.britannica.com/biography/J-P-Morgan, Constitutional Rights Foundation - J P Morgan, The Panic of 1907 and the Federal Reserve Act, Philanthrophy Roundtable - Biography of J. P. Morgan, NETSTATE - Biography of John Pierpont Morgan, John Pierpont Morgan - Children's Encyclopedia (Ages 8-11), J. Pierpont Morgan - Student Encyclopedia (Ages 11 and up). 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. [22] Built around a core of booming American railway securities, the firm established itself in several other markets, including the New York money market and government finance. It became J.P. Morgan and Company in 1895 and is now JPMorgan Chase & Co. Morgan demurred but eventually accepted, joining the firm as junior partner in October 1854. After being recommended, Greene met with Morgan in 1905, and was hired . Junius Spencer Morgan III married Emma Louise Converse and had 2 children. West Springfield, Mass., prospered at investment banking. [70], Last edited on 25 February 2023, at 17:50, Connecticut Mutual Life Insurance Company, "J.S. In 1870, after the Battle of Sedan and the establishment of a provisional French Third Republic in Tours, Barings and Rothschilds were unwilling to establish a line of credit for the new government. 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. Husband of Juliet (Pierpont) Morgan married 2 May 1836 in Hartford, Hartford County, Connecticut. Wrong username or password. However, he soon encountered resistance from President Theodore Roosevelt, who sought to leverage the populist tide against the wealthy "robber barons" of Wall Street. This connection would eventually lead to her employment with financier and banker J. P. Morgan starting in 1905 as Junius introduced Greene to his uncle. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius. Meanwhile, Pierpont struck up a new romance with Frances Louisa "Fanny" Tracy, the daughter of a New York lawyer. (1892 - 1960) Photos: 745. This proposal was accepted and Drexel, Morgan, & Co. became the new New York affiliate of the London bank, with Pierpont as Drexel's junior partner. 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. He founded J. S. Morgan & Co. Though Peabody retired as promised, he denied Morgan the use of his name and capital. 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. Wife/Partner: Juliet PIERPONT Children: John Pierpont MORGAN ; Mary Lyman (m. Walter Hayes Burns) "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. Joseph personally bought the stakes of Aetna investors who hesitated to pay on the policies. Just do what you can. 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. 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. 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. [19], Upon Morgan's arrival in London in 1854, Peabody & Co. was immediately in a position of strength as a leading dealer in American securities in the city; American grain, cotton, and railroad values soared during and after the Crimean War. After a year, he transferred to a private academy in East Windsor, Connecticut and spent summers working on his father's farm or assisting at his father's business office in Hartford. Juliet Morgan Anne Morgan: Cha m: Junius Spencer Morgan Juliet Pierpont: John Pierpont "J.P." Morgan (17/4/1837 - 31/3/1913) l nh kinh doanh, ti chnh, t thin v su tp ngh thut ngi M, v l ngi c vai tr to ln trong nn ti chnh v cng nghip Hoa K cui th k 19. Sarah Spencer Morgan (1893-1949), married Henry B. Gardner (1891-1932) in 1913. In October 1858, Field's cable broke, delaying the project's completion another eight years until 1866. [37] After the fall of Paris in January and the establishment of the Paris Commune, the bonds dropped from 80 points to 55, nearly bankrupting J.S. TH E W E A TH E R Snow or rain. v.).--His son, John Pierpont, banker, born in Hartford, Connecticut, 17 April, 1837, was educated at the English high-school in Boston, and then studied at the University of Gottingen, Germany. Junius Spencer Morgan 1846 - 1858. One of the firm's two junior partners was future Governor of New York and U.S. Vice President Levi P. Juliet Pierpont Morgan . He is buried in Cedar Hill Cemetery, Hartford, Connecticut. Sitelinks. Junius Spencer Morgan. Sarah Spencer Morgan Morgan 1839 - 1896. 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. Morgan was born on April 14, 1813, in Holyoke, Massachusetts to Joseph and Sarah Morgan. He helped to achieve railroad rate stability and discouraged overly chaotic competition in the East. During 186471 he was a member of the firm of Dabney, Morgan and Company, and in 1871 he became a partner in the New York City firm of Drexel, Morgan and Company, which soon became the predominant source of U.S. government financing. Drexel allied his bank with Peabody's through Morgan, forming one of the most powerful and important banking alliances in American history. % J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. [43] At the dinner, Morgan stated:[36], "never do anything to cause evil to be spoken of the American name. He has been a liberal donor to Trinity college, and in 1886 presented to the Hartford orphan asylum a generous contribution, known as the Sarah Morgan fund, in memory of his mother, Mrs. Sarah Spencer Morgan. Peabody also forced unfavorable terms on Morgan's lease of the bank's 22 Old Broad Street offices. In the mid-20th century, he started to allow his friends and family to build houses on there, each with five or six acres of land. 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. 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. His paternal grandparents were Junius Spencer Morgan (1813-1890) [3] and Juliet Pierpont (1816-1884), the daughter of John Pierpont. Morgan personally lobbied Washington on Field's behalf in 1856 and Peabody & Co. subscribed to 10,000 of Field's original capital stock of 350,000 and later advanced Field funds to complete the project when he struggled to find American investors. Actually, although John Pierpont Morgan's father was indeed named Junius Spencer Morgan, this was not his home. [5], Soon thereafter, Morgan's father secured him a new partnership at Morris Ketchum's private bank on Wall Street, renamed Morgan Ketchum & Co. At his death, in 1890, he left a fortune estimated at about $10,000,000. Junius Spencer Morgan (1867-1932), Class of 1888, and A.M. 1896, was a nephew of the celebrated John Pierpont Morgan, the great financier. 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. WIKITREE HOME | ABOUT | G2G FORUM | HELP | SEARCH. Please enable JavaScript in your browser's settings to use this part of Geni. The firm did a general banking and brokerage business and had a few foreign clients. From about 1836 to 1853, he was in the dry-goods business. Three years later he began financing a series of giant industrial consolidations that were to reshape the corporate structure of the American manufacturing sector. Junius Spencer. Records: 4,977. Founder of United States Steel Corporation. They write new content and verify and edit content received from contributors. Primary source of wealth: J. P. Morgan & Co.. . [65], On April 3, 1890, Morgan took an afternoon carriage ride through Monte Carlo. In 1864, he established J. S. Morgan & Co. in London as the successor to George Peabody & Co., of which he was junior partner. Junius Morgan book. Read reviews from world's largest community for readers. [27][28][29], Despite their own financial difficulties in this period, Peabody and Morgan were chief backers of Cyrus West Field's bedeviled transatlantic cable project throughout. The executives eventually agreed to terms in what became known as the Corsair Compact. ; The Result Of The Banker's Recent Accident At Monte Carlo", "Mrs. Morgan's Funeral. Their daughter, Mary Ethel Burns (d. 1961) married, Junius Spencer Morgan Jr (18461850), who died young. Junius Spencer Morgan II (1867-1932), son of J. Pierpont Morgan's sister Sarah, began collecting rare books while he was in his teens and eventually built a fine collection of the ancient Roman poet Virgil's works. Together they had three children: Sarah Spencer Morgan, Alexander Perry Morgan and Lucrutia Morgan who died at birth. Junius Spencer Morgan (American) The Metropolitan Museum of Art. [35], Still, Morgan was ambitious to place his bank on par with the Rothschilds and Barings Bank. 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.

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