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Junius Spencer Morgan (April 14, 1813 April 8, 1890) was an American banker and financier, born at West Springfield (now Holyoke), Massachusetts, USA. "[48], In 1836, Morgan married Juliet Pierpont (18161884), daughter of John Pierpont (17851866), a poet, lawyer, merchant, and Unitarian minister. rootsweb: Click Here When his horses bolted at an oncoming train, Morgan stood to see if his driver could steady the horses. Aptly-named House Island comes w/ 4 houses, 5 beaches and 12.8 acres. Pedigree: Junius Spencer MORGAN ", Delivers the most important property news around the world to your inbox each weekday, COPYRIGHT 2023 MANSION GLOBAL. He was a devout Episcopalian. As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. In 1836, he married John Pierpont Morgan's mother, Juliet. 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. [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. Morgan's Death. 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. Geni requires JavaScript! 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. All charts include source citations for ancestors in the charts. We strive for accuracy and fairness.If you see something that doesn't look right,contact us! L'arbre JP Morgan Jr. Net Worth (Entrepreneur) Great though his resources were, Morgan could not finance such enormous sales of stocks and bonds entirely through his own and his father's partnerships. Get a Britannica Premium subscription and gain access to exclusive content. << /Length 6 0 R /Filter /FlateDecode >> Famouskin.com also includes ancestoral charts showing the family relationships of J.P. Morgan to many famous kin. 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. He received an A.B. Their daughter, Mary Ethel Burns (d. 1961) married, Junius Spencer Morgan Jr (18461850), who died young. discoveries. He returned to the United States in 1857, and entered the banking-firm of Duncan, Sherman and Co., of New York. From 1854, he was partner, with George Peabody, in the English banking house of George Peabody & Co. The iron business had drawn the firm into greater involvement in financing American railway construction, including as the initial offeror of bonds for the Ohio and Mississippi Rail Road Company in 1853. -- PBS Online, 1999, {{ mediasCtrl.getTitle(media, true) }} [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. The outdoor landscaping was overseen by Frederick Law Olmsted, the celebrated landscape architect responsible for Central Park, according to Ms. Devendorf. Their relationship, though separated by an ocean and wildly divergent personalities, was close. 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. [20] Some of Peabody's largest clients suspended business or failed entirely, and Duncan Sherman was unable to pay its remittances without assistance. 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#. [3] He worked for his father until he was able to take over the family business, leading him to become one of the most influential financiers in the world. JP Morgan Jr.'s son Henry co-founded the Morgan Stanley financial corporation with Harold Stanley. [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. He began reorganizing railroads in 1885, when he arranged an agreement between two of the largest railroads in the country, the New York Central Railroad and the Pennsylvania Railroad, that minimized a potentially destructive rate war and rail-line competition between them. The firm soon became a major player in the steel industry by financing the formation of Federal Steel in 1898. [35], Still, Morgan was ambitious to place his bank on par with the Rothschilds and Barings Bank. We use cookies to make our website work more efficiently, to provide you with more personalised services or advertising to you, and to analyse traffic on our website. %PDF-1.3 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. [7][6] He remained at the firm until his father's death in 1847. Juliet Pierpont Morgan . After being recommended, Greene met with Morgan in 1905, and was hired . We are all related! This page has been accessed 12,698 times. He spent winters at the Villa Henriette in Monte Carlo. However, he soon encountered resistance from President Theodore Roosevelt, who sought to leverage the populist tide against the wealthy "robber barons" of Wall Street. He contributed money to Trinity College, Hartford. Three years later he began financing a series of giant industrial consolidations that were to reshape the corporate structure of the American manufacturing sector. Margaret Geer Walker lives there, Anonymous @ 2021-02-06 20:05:03 . In 1902, the Justice Department charged Northern Securities with violating the Sherman Antitrust Act of 1890. While every effort has been made to follow citation style rules, there may be some discrepancies. [24], The railway boom ended in 1857 and prices collapsed, leading to rumors in London that Peabody & Co. was on the verge of failure. 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. rootsweb: Click Here [12], In fall 1850, Morgan arranged to go into business with James M. Beebe of Boston, a young merchant with a growing import business. Wrong username or password. 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. Morgan Family - NNDB J.P. Morgan is remembered as such a dominant figure in American capitalism that it seemed to many that he ran the entire economy, able to pull strings anywhere. Nathaniel's son, Joseph Morgan, was the fifth of seven children. Born on December 3, 1702, Joseph began to learn to weave at a young age. Funny to see that hes my 6th cousin as Im taking a work break from sending documents to JP Morgan Chase . 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. 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. He entered business in Connecticut, operating a tavern, coffee house, and stagecoach line,[4] and was a founding partner in the Aetna Fire Insurance Company in 1819. J P Morgan. Just one grandparent can lead you to many Morgan and his partners actively promoted great mergers after 1922 and controlled . L'arbre John Pierpont Morgan, Sr. (1837 - 1913) - Genealogy - geni family tree Peabody, who was in poor health,[16] offered Morgan to join his banking house as a junior partner, to be made the senior partner upon Peabody's retirement in ten years. 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. Junius Spencer Morgan b. 1813 d. 1890 - Rodovid EN In 1836, he married John Pierpont Morgan's mother, Juliet. Upon his father's death, he inherited part of Chicopee Field. This page was last edited on 25 February 2023, at 17:50. In time Junius allowed friends to build on the island. Wife/Partner: Juliet PIERPONT Children: John Pierpont MORGAN ; Mary Lyman (m. Walter Hayes Burns) J.P. Morgan - The Life and Deals of America's Banker: Insight and [30] The firm turned an eventual profit on the venture, but its major purpose was to establish Morgan as a primary backer in the growing communications industry. Connecticut to Junius Spencer Morgan (1813-1890) and Juliet Pierpont (1816-1884) of Boston, Massachusetts. "It takes a very special buyer for this trophy property," Ms. Devendorf said, "But its a once-in-a-lifetime opportunity. Hartford, Hartford, Connecticut, United States, Contributions to the History of Christ Church, Hartford, Middletown Upper Houses, A History of the North Society of Middletown, Connecticut, from 1650 to 1800, Connecticut, Deaths and Burials Index, 1650-1934, Updated Morgan Genealogy: A History of James Morgan, of New London, Connecticut, and His Descendants, from 1607 to 1997. His sister, Lucy Morgan (d. 1890) was married to Major James Goodwin, one of the founders, and a president for many years, of the Connecticut Mutual Life Insurance Company. The son of a successful financier, Junius Spencer Morgan (181390), John Pierpont Morgan was educated in Boston and at the University of Gttingen. Junius Spencer. After the death of his wife Juliet in 1884, he withdrew further from business. WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY. . Junius Spencer Morgan and his family lived on the island for decades. Under this name the house has grown in strength and influence until at present it ranks among the great banking-houses of the world. WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY. 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. Please enable JavaScript in your browser's settings to use this part of Geni. In addition to consolidating and controlling several railroads and industries, J.P. Morgan led in resupplying the U.S. Treasurys gold reserve during the depression that followed the panic of 1893 and organized the financial community in averting a financial collapse after the market panic of 1907. We are featuring this profile in the Connection Finder this week. 1892-1960. The most expensive listing in the U.S. is a West Coast home asking $350 million. Pierpont, as he preferred to be . CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. WARREN TIMES-MIRROR The Only Paper in Many Hom es Th One Paper in Most Honnes (>0()l> E \ ENTNG Hincp .scientists are so good at digging up things, we suggest tliey turn their efforti- to more ration points. walmart springfield, mo tire and lube hours . TH E W E A TH E R Snow or rain. We are all related! Please try again. Morgan's life and career took another turn after the death of his father in 1890. The estate will join a handful of nine-figure properties across the U.S., including two in the Hamptons on Long Island: the former Ford family estate listed for $175 million and another oceanfront estate asking $150 million. J.P. Morgan was known for reorganizing businesses to make them more profitable and stable and gaining control of them. When healthy, he frequented galleries and concerts with his parents, sparking a lifelong fascination with the arts. Have you taken a DNA test? The French prepaid the bonds in 1873, following the war, which brought their value up to par and netted Morgan 1,500,000 profit, which propelled J.S. pentecostal assemblies of the world ordination; how to start a cna school in illinois With his son's aid, Morgan grew his banking house into a trans-Atlantic financial empire that included firms in . Island That Was Longtime Home to J.P. Morgan Heir Hits Market for $125M 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. [14][15] He was soon among the nation's financial elite. In the fall of 1848, Pierpont transferred to the Hartford Public School and then to the Episcopal Academy in Cheshire, Connecticut, (now called Cheshire Academy), boarding with the principal. Junius Spencer Morgan III married Emma Louise Converse and had 2 children. [70], Last edited on 25 February 2023, at 17:50, Connecticut Mutual Life Insurance Company, "J.S. Junius Spencer MORGAN 1813-1890 - Ancestry Family Life JP Morgan Jr. married Jane Norton Grew. 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. 5 0 obj He remained as a clerk for five years, gaining exposure to the banking industry, as well as a number of mercantile trades in Boston and New York. He died on Monday, March 31, 1913 in Rome, Italy while attending a yacht racing event. The assistant librarian was Junius Spencer Morgan, nephew of wealthy financier J. P. Morgan. Peabody also forced unfavorable terms on Morgan's lease of the bank's 22 Old Broad Street offices. A sprawling 85-acre compound on the North Shore of Long Island, New York, is hitting the market for $125 million Wednesday, Mansion Global has learned. [23], By 1856, Peabody was confident enough in Morgan to leave him in sole care of the business while Peabody took an extended tour of the United States. In accordance with the legal provisions, you can ask for the removal of your name and the name of your minor children. Death 8 Apr 1890 - Hartford, Hartford, Connecticut, USA. 1785-1866 & Mary Sheldon Lord 1787-1855) with. 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. He began his business career in 1829 by entering the employ of Alfred Welles, of Boston, with whom he continued until he became of age.--In July, 1834, he joined the banking-house of Morgan, Ketchum and Co., of New York, but he returned to Hartford about eighteen months later. 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. We once thought it was a combination of the least attractive elements of Junior and Julius but now we think.well, we think it's okay. Signup for our newsletter to get notified about our next ride. THE DISAPPEARING DUCHESS - The New York Times Please refer to the appropriate style manual or other sources if you have any questions. In 1845, his father invested an additional $25,000 in the firm on Junius's behalf. Records: 4,977. J. P. Morgan shot; thirty-two caliber bullet penetrates groin - UPI 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 III (1892-1960) Capt. Nous sommes tous With his son's aid, Morgan grew his banking house into a trans-Atlantic . Within a year, the business struggled sufficiently that Joseph Morgan had to bail his son out and dissolve the partnership. J.P. Morgan | Biography & Facts | Britannica Regardless, Morgan continued to exert his authority in both industries and in government. arwiki . It was a question of success. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. Morgan used his company's funds to purchase the coffee, and then sold it to local merchants for a profit. The yearly tax for the property is about $570,000. He started his own private banking company and bought railroads, becoming one of the world's largest steel distributors. from Harvard University in 1914. If so, login to add it. 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." . J. P. Morgan was born in Hartford, Connecticut to Junius Spencer Morgan (1813-1890) and Juliet Pierpont (1816-1884) of Boston, Massachusetts. When Sarah Spencer Morgan was born on 5 December 1839, in Hartford, Hartford, Connecticut, United States, her father, Junius Spencer Morgan Sr., was 26 and her mother, Juliet Pierpont, was 23. J. P. Morgan Biography - Childhood, Life Achievements & Timeline 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. Sunset 6:13. Junius Spencer Morgan I. Father Joseph Morgan (Spencer) II. [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. J P Morgan Quotes Actually, although John Pierpont Morgan's father was indeed named Junius Spencer Morgan, this was not his home. 1981.2:2 . Having ceased to undertake large industrial reorganizations, Morgan thereafter concentrated on amassing control of various banks and insurance companies. He headed a group of bankers who took in large government deposits and decided how the money was to be used for purposes of financial relief, thereby preserving the solvency of many major banks and corporations. It was this fortune which eventually placed J.P. Morgan's father, Junius Spencer Morgan, in the banking business. Junius Spencer Morgan 1846 - 1858. in Hartford, Connecticut, USA , United States, Died on March 31, 1913 Submit a correction or make a comment about this profile. GREAT NEWS! Junius Spencer Morgans manor, named Salutation, is one of the few remaining estates still privately owned. [4] [5] Career. In semi-retirement by the time the crisis was resolved, Morgan devoted much of his energy to his art collection and philanthropy. They maintained a twice-weekly correspondence for thirty-one years, which Pierpont burned in 1911.[58]. Junius Spencer Morgan I (14 Apr 1813 - 8 Apr 1890) 0 references . J.P. Morgan cofounded (1871) the banking company Drexel, Morgan and Company. The Morgan Memorial served as a prototype for the Pierpont Morgan wing of the Metropolitan Museum of Art. For the optimum Mansion Global experience, please turn off any ad blockers and refresh this page. He reorganized several major railroads and financed industrial consolidations that formed the United States Steel, International Harvester, and General Electric corporations. [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. Pierpont, as he preferred to be known, had a varied education, due in part to interference by his father, Junius. He was named after his maternal grandfather, and much like his Uncle Pierpont, he was a great collector. Let us know if you have suggestions to improve this article (requires login). gnalogique Dowling avec plus d'un demi-million de parents, Morgan led a syndicated bond issue of 10,000,000, which the syndicate sold at 15 points below par. J.P. Morgan - Biography, Financier & Wealth - HISTORY Husband of Juliet (Pierpont) Morgan married 2 May 1836 in Hartford, Hartford County, Connecticut. 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. His paternal grandparents were Junius Spencer Morgan (1813-1890) [3] and Juliet Pierpont (1816-1884), the daughter of John Pierpont. The current owner, Margo Walker, a socialite and real estate broker, gradually bought up all the houses over the years, according to Bloomberg, which first reported that the compound would be put up for sale. 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. Junius Spencer Morgan III (1892-1960) FamilySearch Morgan members were notable for dominating the banking industry during . [65], On April 3, 1890, Morgan took an afternoon carriage ride through Monte Carlo. 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. The TV star, who was aged just 10 when it happened, retold Alex Jones and Roman Kemp about . Wikipedia (8 entries) edit. Family tree of J. P. MORGAN - Geneastar He helped to achieve railroad rate stability and discouraged overly chaotic competition in the East. The largest online newspaper archive; 22,800+ newspapers from the 1700s-2000s; Millions of additional pages added every month Title Junius Spencer Morgan at St. Paul's School, Concord NH Junius Spencer Morgan was educated at St. Paul's School, Concord, New Hampshire, before attending Princeton. Morgan family - Wikipedia [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. Having financed the creation of the Federal Steel Company in 1898, Morgan in 1901 joined in merging it with the giant Carnegie Steel Company and other steel companies to form United States Steel Corporation, which was the worlds first billion-dollar corporation. This earned Morgan the occasional distrust of the federal government and the enmity of reformers and muckrakers throughout the country, but he remained the dominant figure in American capitalism until his death in 1913. To commemorate his passing, the New York Stock Exchange remained closed until noon on the day of his funeral. He attended Harvard University during the early-to-mid 1880s. 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. There is a "921 PPP Without Project Account and without ProjectBox" error that needs corrected. Because of his links with the Peabody firm, Morgan had intimate and highly useful connections with the London financial world, and during the 1870s he was thereby able to provide the rapidly growing industrial corporations of the United States with much-needed capital from British bankers. GLEN COVE, L. I., N.Y., July 3, 1915 (UP) - John Pierpont Morgan, the financier, was shot at his summer home here shortly before 9 o'clock to-day. Adrian Wooldridge characterized Morgan as America's "greatest banker".[1]. 1844 child birth: Mary Lyman Morgan b. Son of Joseph Morgan, III and Sarah "Sally" Morgan [20][21] Morgan was placed in charge of much of the firm's iron portfolio, which included the marketing of railroad bonds in both New York and London. 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. All Rights Reserved. Devastated, the young businessman returned to New York and plunged himself into his work. "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. Spouses, children, grandchildren and great-grandchildren. In 1854, Junius Morgan moved the family to London to begin his new career as a partner in the banking firm of George Peabody & Co. Pierpont was sent to the Institute Sillig in Switzerland, where he became fluent in French and displayed an aptitude for mathematics, and then to Gttingen University in Germany. Morgan urged Pierpont to withdraw his name from consideration, and he did. stream They were the parents of at least 2 sons and 1 daughter. Beebe, Morgan and Co., became one of the largest dry-goods establishments in the United States. Ten years later, he succeeded Peabody as head of the firm and changed its name to J. S. Morgan & Co. MORGAN, Junius Spencer, banker, born in West Springfield (now Holyoke), Massachusetts, 14 April, 1813. archive.org [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. Morgan's astounding success transformed the financial industry and left behind a powerful legacy. West Springfield, Mass., prospered at investment banking. WIKITREE HOME | ABOUT | G2G FORUM | HELP | SEARCH. Junius Spencer Morgan - Alchetron, The Free Social Encyclopedia 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). They married in May 1865 and had four children, with son John Pierpont "Jack" Morgan Jr. going on to take over his father's business many years later. 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. Why J. P. Morgan Jr. Was More Important Than His Father! Morgan spent his first few months working for Peabody in the United States, establishing contacts with American clients like Duncan, Sherman & Company, reaching out to new potential clients, and gathering information. He worked at his father's bank, Peabody, Morgan & Co., and later the firms of Duncan, Sherman & Company and Dabney, Morgan, and Company. "If you have to ask how much it costs, you can't afford it." He brought in other major . Morgan set sail on an overseas voyage after the hearings, but his health steadily declined, and he died at a hotel in Rome, Italy, on March 31, 1913. Connect to the World Family Tree to find out, 1813 - Holyoke, Comt De Hampden, Massachusetts, tats-Unis, Junius MORGAN, Juliet MORGAN, Mary MORGAN, John Pierpont MORGAN, Apr 14 1813 - West Springfield, Massachusetts, Usa, Joseph Morgan, Sarah "sally" Morgan (born Spencer), Apr 14 1813 - West Springfield, Hampshire, Massachusetts, Joseph Morgan III, Sarah Morgan (born Spencer), n Pierpont Morgan Sr., Sarah Spencer Morgan, Junius Spencer Morgan II, Mary Lyman Burns (born Morgan), Juliet Morgan, Juliet Pierpont Morgan, Lucy Goodwin (born Morgan), Mary Smith (born Morgan), Cedar Hill Cemetery, Hartford, Hartford, CT, United States, Cedar Hill Cemetery of Hartford, Connecticut.