PIERPONT MORGEN

New Zealand Times, Volume LXXI, Issue 4295, 2 March 1901, Page 6 (Supplement)

PIERPONT MORGEN

In the December “Aluvroys’s,” Air Job a. Paul Bocovk has a brad but interesting article on “America’s foremost Financier,'’ -Ur J. Pierpont Morgan. Mr Boccck describes tho head of the banking firm of J. Pierpont Morgan and Co., tho greatest power in Wall street, as a. man distinguished not only for his large charity, but for his even more unusual modesty or hatred of notoriety—whatever it is that makes him insist on the anonymity of his great gifts. Although he lias given away some 5,000.000d015., not a single institution which inis benefited by his generosity bears Ins name.

His abhorrence of notoriety is one of the strong factors in Ills personal equation. Others are his impervious will, his acuteness of thought, and hw brevity cf speech. Another powerful factor is Ms physique. Six foct m height, with the shoulders and chest of an athlete, ho is, with all bis 300 and more pounds of weight, so quick in his movements as to force upon all beholders the conclusion that here indeed is a man both intellectually and physically in touch with tho foremost forces of bis time. AN ACCESSIBLE MAN.

A railroad president from: a nut_ far dif-lant state, whose name was also identified with an institution of learning, called one morning, not many years ago, at 23 Wall street, and asked to sec Mr Morgan. A peculiarity of the banking house is that almost anybody can ace Mr Morgan who wants to. Ho decs not sib in a sanctum shut away by •mahogany doors from the surging life of the place. Behind a long glass partition, to tho right as ono enters, and beginning about thirty feet from tho street entrance, stands the desks of the partners : Robert Bacon, G. 11. Coster (who died recently), George S. Bowdoin, Temple Bowdoin, and W. P. Hamilton, tho latter Mr Morgan’s son-in-law. At the far end of the line sits Pierponb Morgan himself, by a broad, low desk, in a pivot chair, on which he swings himself freely as his attention is directed, now hero, now there. Desk and chair are alike plain, business-like, and unsuggestivc of magnificent enterprises. Around the room are men waiting, hat in hand, watching the opportunity to approach and speak. Mr Morgan holds a long, gold-handed cigar between the fingers of his left hand, enjoying a dry smoke. His clothes arc those of a man of the world; his closely-trunmed grey hair, smooth-shiveri face, -nd heavy moustache shows that he takes care of himself. To him entered tiio railroad president, smiling, self-assured, prepared to be eloquent, but not to ho abashed.

“This, sir,' said ho, presently, referring to the proposition he had just outlined, “is a gilt-edged opportunity. You must not think cur stock is going begging. lam beady to put the matter through myself, but—” “I don’t see, then, that yon need me at all.” said Air Morgan quietly. And lie turned to the next comer.

On a fair estimate of his annual gains, each minute of his working hours :s worth at least forty dollars. It ought to be daugerous to waste tho time of such a man—and it is.

Air Morgan’s chief recreation is yachting. Ho was, for years, commodore of the New York Yacht Club. His now yacht. The Corsair, is a big, black - , ocean-going steamer of 1136 tons* which cost SOO.OOOdoIs. Ouce aboard her Air Alorgan throws off business cares, and becomes a genial host and comxianion. HIS VAST INTERESTS.

Of tho corporations whoso management Pierpout Morgan dictates, the most important are the railroads, hi others, like the General Electric Company, he retains an abiding interest. In others still, like the Federal Steal, company and the National Tube Company, lie was interested only in their forma tire period, when they needed both promoting and financing. Of tho way in which the Federal Steel Company was formed. President Gary said to the Industrial Commission, sitting in Washington a few weeks ago: “Mr J. Pierpont s'[organ really effected the union, and brought the separate companies together. Between 200,000.000 dollars and 300,000,000 dollars was given to him, and with this he bonguu n controlling interest in each of the corporations, paying his own expenses. ’’