In addition, it was the centrality of his role in averting disaster in 1907 that led the U.S. government to create the Federal Reserve System. "[43][36], As Junius took a less active role and Pierpont continued to accrue massive profits, the balance of power within the Morgan empire shifted from London to New York City. Harriet Nickerson , William Lord, Alice Anna GAYLORD , Richard TREAT, Blanche de BRIENNE , Guillaume de FIENNES, Elizabeth x , Nathan Lynde. [46], Morgan was, like his son, intensely private. [42], In 1877, Morgan began a semiretirement, cutting back on his schedule and ceding greater authority to his son. Junius Spencer Morgan I (April 14, 1813 - April 8, 1890) was an American banker and financier as well as the father of J. P. Morgan. Primary source of wealth: J. P. Morgan & Co.. . Morgan pulled off the massive transaction without driving down the share price, and in return he secured a seat on the New York Central board of directors. Morgan demurred but eventually accepted, joining the firm as junior partner in October 1854. [10] [14] During the Great Depression he took heavy financial losses. "John Pierpont Morgan (1837-1913) began his career in 1857 as an accountant, and worked for several New York banking firms until he became a partner in Drexel, Morgan and Company in 1871, which was reorganized as J.P. Morgan and Company in 1895. Meanwhile, Pierpont struck up a new romance with Frances Louisa "Fanny" Tracy, the daughter of a New York lawyer. In October 1861, Morgan married Amelia Sturges in Manhattan, New York. [13], By February 1851, Morgan sold his stake in Howe & Mather for $600,000 and moved to Boston's Pemberton Square. 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. Just do what you can. Mary Lyman Morgan Burns 1844 - 1919. Shares the stories you may have missed from the world of luxury real estate. His first venture, in 1891, was to arrange the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric, which became the dominant electrical-equipment manufacturing firm in the United States. Death 8 Apr 1890 - Hartford, Hartford, Connecticut, USA. Members of the family amassed an immense fortune over the generations, primarily through the noted work of John Pierpont (J. P.) Morgan (1837-1913). 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." . Following a decade of railroad consolidation, he broke new ground by arranging the merger of Edison General Electric and Thomson-Houston Company to form General Electric in 1892. rootsweb: Click Here Select from premium Junius Spencer Morgan of the highest quality. [33], In 1864, Morgan's ten-year agreement with Peabody expired. "[48], In 1836, Morgan married Juliet Pierpont (18161884), daughter of John Pierpont (17851866), a poet, lawyer, merchant, and Unitarian minister. More:Gatsby-esque Mansion on Long Island Gets $15M Chopped Off its $100M Asking Price. [63] Morgan was a close friend of the Whig politician and diplomat Abbott Lawrence. Gatsby-esque Mansion on Long Island Gets $15M Chopped Off its $100M Asking Price, New York Remains the Worlds Top Super-Luxury Property Market, New York Developer Pockets $11.6 Million After SellingHisBillionaires Row Condo for 52% Gain, A One-Bedroom Inside a Mid-Century Modern Manhattan Landmark. 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 Genealogy: A History of James Morgan, of New London, Conn. J.P. Morgan - The Life and Deals of America's Banker: Insight and Analysis into the Founder of Modern Finance and the American . Drexel allied his bank with Peabody's through Morgan, forming one of the most powerful and important banking alliances in American history. Father of John Pierpont Morgan, Sr.; Sarah Spencer Morgan; Mary Lyman Burns; Junius Spencer Morgan and Juliet Morgan Junius is one of those names that's growing on us, along with many of its Roman countrymen such as Julius and Atticus. The Dowling Family Tree with over half a million relatives, Morgan Family. JP Morgan Jr.'s son Henry co-founded the Morgan Stanley financial corporation with Harold Stanley. L'arbre Junius Spencer Morgan, III won (41%) against 2 opponents. If not, see our friends at Ancestry DNA. The immense scope of Morgan's power came to light in the wake of the Panic of 1893. [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. 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. Design area: 5 1/4 x 8 7/16 inches (134 x 215 mm) Gift of Mr. John P. Morgan, II. Railroad securities were further weakened by the Credit Mobilier scandal. In 1875, at the age of 38, Morgan was living with his wife Frances and children Louisa, John, Juliet, and Anne in Highland, New York. He passed away on 19 Oct 1960 in Simcoe, Norfolk, Ontario. 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. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. Junius Spencer Morgan. Junius Spencer Morgan (1813-1890) owned part of a large mercantile house (trading company) in Hartford, advanced to a larger one in Boston, Massachusetts, and . Today it is the Morgan Library & Museum . In 1861 Morgan became the agent for his fathers banking company in New York City. We know it's short notice, so don't fret too much. The assistant librarian was Junius Spencer Morgan, nephew of wealthy financier J. P. Morgan. Miles Morgan, ancestor to the Morgan family in America, emigrated from Bristol, England to Boston in 1636. 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 . They write new content and verify and edit content received from contributors. Sarah Spencer Morgan Morgan 1839 - 1896. Junius Spencer Morgan and his family lived on the island for decades. 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. Contents Early life Career Personal life References Early life Morgan was born on April 14, 1813 in Holyoke, Massachusetts. Morgan was one of the greatest art and book collectors of his day, and he donated many works of art to the Metropolitan Museum of Art in New York City. Charcoal and stumping on wove paper. Capture a web page as it appears now for use as a trusted citation in the future. Best Known For: J.P. Morgan became one of the wealthiest and most powerful businessmen in the world through his founding of private banks and industrial consolidation in the late 1800s. 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. 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. contient des milliers de photos et GeneaStars. 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. 2008 - 2023 INTERESTING.COM, INC. Junius Spencer. 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. Submit a correction or make a comment about this profile. % Contents. Junius Spencer Morgan III (1892-1960) Capt. Career He began his business career in 1829 by entering the employ of Alfred Welles of Boston. 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. contient des milliers de photos et GeneaStars. 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. Major children and living persons must directly contact the. Born into a prominent New England family in 1837, J.P. Morgan began his career in the New York financial industry in the late 1850s. Morgan III. The assets of the House of Morgan fell 40% from $704 million to $425 million. Let us know if you have suggestions to improve this article (requires login). 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. GROUP. WIKITREE PROTECTS MOST SENSITIVE INFORMATION BUT ONLY TO THE EXTENT STATED IN THE TERMS OF SERVICE AND PRIVACY POLICY. Signup for our newsletter to get notified about our next ride. Philanthropist, Industrialist, Businessman, American financier, banker, philanthropist and art collector, Born on April 17, 1837 [31], Morgan became the active head of the firm in February 1859, with Peabody remaining the nominal senior partner. 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. J. P. Morgan was born in Hartford, Connecticut to Junius Spencer Morgan (1813-1890) and Juliet Pierpont (1816-1884) of Boston, Massachusetts. He began his business career in 1829 by entering the employ of Alfred Welles of Boston. In 1886 he reorganized two more major railroads with the aim of stabilizing their financial base. Anonymous @ 2011-12-25 19:59:00 . [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. We are featuring this profile in the Connection Finder this week. A sickly child who suffered seizures and other mysterious ailments, Pierpont, as he was known, spent long periods sheltered at home. Together they had three children: Sarah Spencer Morgan, Alexander Perry Morgan and Lucrutia Morgan who died at birth. Pierpont also joined Drexel's Philadelphia firm and his Paris firm, giving the Morgans footholds in four cities. 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. 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. Morgan's life and career took another turn after the death of his father in 1890. "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. He returned to the United States in 1857, and entered the banking-firm of Duncan, Sherman and Co., of New York. After all-night negotiations went nowhere, Morgan ended the stalemate by drawing up a bailout contract and ordering the exhausted presidents to sign. Outgoing letters are addressed to her sister, Mary Kirkland Tracy. All charts include source citations for ancestors in the charts. Born in New York City, New York, USA on 15 MAR 1892 to John Pierpont "Jack" Morgan and Jane Norton Grew. 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. Articles from Britannica Encyclopedias for elementary and high school students. Their daughter, Mary Ethel Burns (d. 1961) married, Junius Spencer Morgan Jr (18461850), who died young. He reorganized several major railroads and financed industrial consolidations that formed the United States Steel, International Harvester, and General Electric corporations. In 1864, he established J. S. Morgan & Co. in London as the successor to George Peabody & Co., of which he was junior partner. In that same year he organized, with less subsequent success, the International Mercantile Marine (IMM), an amalgamation of a majority of the transatlantic shipping lines, notably including White Star. 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. Nathaniel's son, Joseph Morgan, was the fifth of seven children. 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. lis! He worked at his father's bank, Peabody, Morgan & Co., and later the firms of Duncan, Sherman & Company and Dabney, Morgan, and Company. Morgan members were notable for dominating the banking industry during . Through his New York social circle, Morgan grew close to Amelia "Memie" Sturges, the daughter of a successful merchant. 3I. 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. ", Delivers the most important property news around the world to your inbox each weekday, COPYRIGHT 2023 MANSION GLOBAL. Junius Spencer Morgan (American) The Metropolitan Museum of Art. In 1915, he married Louise, daughter of the celebrated composer Frederick S. Converse and a great-granddaughter of the "Ice King" Frederic Tudor. The executives eventually agreed to terms in what became known as the Corsair Compact. Morgan's grandson later recalled this as "at that time, the bitterest disappointment of his life". 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. Astrological Sign: Aries, Death Year: 1913, Death date: March 31, 1913, Death City: Rome, Death Country: Italy, Article Title: J.P. Morgan Biography, Author: Biography.com Editors, Website Name: The Biography.com website, Url: https://www.biography.com/business-leaders/jp-morgan, Publisher: A&E; Television Networks, Last Updated: March 26, 2021, Original Published Date: April 3, 2014. Son of Joseph Morgan, III and Sarah "Sally" Morgan [45], Morgan was "tall with sloping shoulders" and a thickening midriff, a wide face, light blue eyes, a prominent nose, and a firm mouth. [62], Like his father, Morgan was a strong supporter of the Whig Party. Dowling Through his mother, he was a first cousin to Henry Grew Crosby (1898-1929). in Rome, Italy, This form allows you to report an error or to submit additional information about this family tree: J. P. MORGAN (1837), Copyright Wikipdia authors - This article is under licence CC BY-SA 3.0. [44] By the 1880s, Junius's health began to fade, and he stepped back from day-to-day business. The map below shows the places where the ancestors of the famous person lived. 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. 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. 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. Sitelinks. [2] He grew up in New York and received an education that focused on math and history, as well as German and French, as his father believed there was great value in those subjects. contient des milliers de photos et GeneaStars. CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. The Dowling Family Tree with over half a million relatives, 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. [12], In fall 1850, Morgan arranged to go into business with James M. Beebe of Boston, a young merchant with a growing import business. 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. Username and password are case sensitive. 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. If not, see our friends at Ancestry DNA. Pierpont, as he preferred to be . 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. In accordance with the legal provisions, you can ask for the removal of your name and the name of your minor children. Touring the world with friends one mile and pub at a time; southlake carroll basketball. pentecostal assemblies of the world ordination; how to start a cna school in illinois ", Hartford, Hartford, Connecticut, United States, (datadoctor, removed unused span anchors), https://en.wikipedia.org/w/index.php?title=J._P._Morgan&oldid=1125408302, https://familysearch.org/ark:/61903/1:1:F7QQ-29K, https://familysearch.org/ark:/61903/1:1:248M-R83, https://familysearch.org/ark:/61903/1:1:F7NY-S4N, https://familysearch.org/ark:/61903/1:1:QVJ1-BR14, https://familysearch.org/ark:/61903/1:1:QVSF-N7CT, U.S. and International Marriage Records, 1560-1900. He took on a prominent role in London society, hosting many social gatherings at his homes on Hyde Park and at Roehampton.[32][33]. Thanks for your cooperation! 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. [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. 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. 1890 death: From grandparents to grandchildren In 1864, he established J. S. Morgan & Co. in London as the successor to George Peabody & Co., of which he was junior partner. Save Page Now. [68][69] At the Connecticut State Capitol, flags were flown at half-mast in mourning. Morgan successfully led the American financial communitys attempt to avert a general financial collapse following the stock market panic of 1907. There is a "921 PPP Without Project Account and without ProjectBox" error that needs corrected. 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). When his horses bolted at an oncoming train, Morgan stood to see if his driver could steady the horses. The son of a successful financier, Junius Spencer Morgan (181390), John Pierpont Morgan was educated in Boston and at the University of Gttingen. 2008 - 2023 INTERESTING.COM, INC. [24], The railway boom ended in 1857 and prices collapsed, leading to rumors in London that Peabody & Co. was on the verge of failure. It was not really a question of price. Their blossoming romance was jarred by her diagnosis of tuberculosis in 1861, and they quickly married and moved to Algiers with the hope of spurring a recovery. He reorganized several major railroads and became a powerful railroad magnate. In April 1912 Morgan had a booking on the maiden voyage of White Stars Titanic but was forced to cancel, reportedly because of an illness. In 1887 it was conspicuous in the reorganization of the Philadelphia and Reading railroad, which a syndicate Of capitalists formed by Mr. Morgan placed on a sound basis. He is also remembered for his art donations to New York Citys Metropolitan Museum of Art and his book collection, now in the Morgan Library and Museum. From 1854, he was partner, with George Peabody, in the English banking house of George Peabody & Co. [65], On April 3, 1890, Morgan took an afternoon carriage ride through Monte Carlo. 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. 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. While every effort has been made to follow citation style rules, there may be some discrepancies. 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. The would-be assassin, apparently of German . Junius Spencer Morgan, 1813-90, b. Joseph personally bought the stakes of Aetna investors who hesitated to pay on the policies. There are no volunteers for this cemetery. WIKITREE HOME | ABOUT | G2G FORUM | HELP | SEARCH. An error has occured while loading the map. 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. Miles Morgan]], ancestor to the Morgan family in America, emigrated from Bristol, England to Boston in 1636. 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. " 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. Ancestors. L'arbre Within a year, the business struggled sufficiently that Joseph Morgan had to bail his son out and dissolve the partnership. Geneastars | Facebook. Through his mother, he was a first cousin to Henry Grew Crosby (1898-1929). [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. Junius is 18 degrees from Jennifer Aniston, 15 degrees from Drew Barrymore, 16 degrees from Candice Bergen, 17 degrees from Alexandre Dumas, 18 degrees from Carrie Fisher, 27 degrees from Whitney Houston, 14 degrees from Hayley Mills, 16 degrees from Liza Minnelli, 18 degrees from Lisa Presley, 18 degrees from Kiefer Sutherland, 18 degrees from Bill Veeck and 18 degrees from Brian Nash on our single family tree. In September 1851, Morgan passed the entrance exam for the English High School of Boston, a school specializing in mathematics to prepare young men for careers in commerce. arwiki . During his residence in Hartford, Mr. Morgan was active in the affairs of the Protestant Episcopal church, and also in various charitable enterprises. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. He spent winters at the Villa Henriette in Monte Carlo. Son of Junius Spencer Morgan I and Juliet (Pierpont) Morgan Brother of Sarah Spencer Morgan, Mary Lyman (Morgan) Burns, Junius Spencer Morgan II and Juliet Pierpont Morgan Husband of Amelia (Sturges) Morgan married 7 Oct 1861 in New York, USA Husband of Frances Louise (Tracy) Morgan married 31 May 1865 [location unknown] Descendants