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. Junius Spencer Morgan III married Emma Louise Converse and had 2 children. Morgan was born on 17 April 1837 in Hartford, Connecticut. Nathaniel's son, Joseph Morgan, was the fifth of seven children. Corrections? Wife/Partner: Juliet PIERPONT Children: John Pierpont MORGAN ; Mary Lyman (m. Walter Hayes Burns) After finishing his education in 1857, Morgan moved to New York to work as a clerk at Duncan, Sherman & Co., the American branch of his father's firm. 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. 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. [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. Father Joseph Morgan (Spencer) II. Following the death of Drexel that year, Pierpont again reorganized his company into J.P. Morgan & Co. Morgan III. He began his career in 1857 as an accountant with the New York banking firm of Duncan, Sherman and Company, which was the American representative of the London firm George Peabody and Company. The immense scope of Morgan's power came to light in the wake of the Panic of 1893. Underscoring his influence in the industry, Morgan in 1885 arranged a meeting with the feuding directors of the New York Central and Pennsylvania Railroad aboard his yacht, the Corsair. [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. 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. aged 75years old. [4] In 1880, he and his family were living in New York City. He married in 1836 Juliet, daughter of John Pierpont, the poet (q. Juliet Pierpont Morgan (18471923), who was the mother of John Junius Morgan (d. 1952). [10] [14] During the Great Depression he took heavy financial losses. Sunrise 7:55. Wikipedia (8 entries) edit. In 1836, he married John Pierpont Morgan's mother, Juliet. 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 . Along with amassing immense wealth through the creation of such corporations as U.S. Steel, Morgan led efforts to bail out the U.S. Treasury in 1895 and 1907. 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. Select from premium Junius Spencer Morgan of the highest quality. His book collection and the building that housed them in New York City became a public reference library in 1924. CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. When healthy, he frequented galleries and concerts with his parents, sparking a lifelong fascination with the arts. DISCLAIMER: The currency conversion is provided for illustration purposes only. [34] It was therefore not as directly reliant on American slavery as its peer banks in London, and took advantage during the American Civil War by aligning with the Union. Their relationship, though separated by an ocean and wildly divergent personalities, was close. Though Peabody retired as promised, he denied Morgan the use of his name and capital. 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. . He then became junior partner in the drygoods house of Howe, Mather and Co., which in 1850 became Mather, Morgan and Co. A year later he was invited by James M. Beebe to form a co-partnership in Boston, which, under the style of J. contains thousands of pictures and GeneaStars. 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. 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. [33], In 1864, Morgan's ten-year agreement with Peabody expired. Outgoing letters are addressed to her sister, Mary Kirkland Tracy. In 1845, his father invested an additional $25,000 in the firm on Junius's behalf. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius. 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. Mary Lyman Morgan Burns 1844 - 1919. Joseph personally bought the stakes of Aetna investors who hesitated to pay on the policies. 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. Morgan. 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. 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 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. Miles Morgan, ancestor to the Morgan family in America, emigrated from Bristol, England to Boston in 1636. discoveries. Junius Spencer Morgan, III won (41%) against 2 opponents. He reorganized several major railroads and became a powerful railroad magnate. Each fall, Junius made an annual trip to the United States for three months, and Pierpont traveled to London each spring. In 1915, he married Louise, daughter of the celebrated composer Frederick S. Converse and a great-granddaughter of the "Ice King" Frederic Tudor. 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 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. CONTENT MAY BE COPYRIGHTED BY WIKITREE COMMUNITY MEMBERS. All charts include source citations for ancestors in the charts. He suffered a broken wrist and concussion and was unconscious for five days until his death on April 8, 1890. 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. junius spencer morgan 30 Nov. junius spencer morgan. We know it's short notice, so don't fret too much. junius spencer morgan great grandchildren 05 Jun. IMPORTANT PRIVACY NOTICE & DISCLAIMER: YOU HAVE A RESPONSIBILITY TO USE CAUTION WHEN DISTRIBUTING PRIVATE INFORMATION. They write new content and verify and edit content received from contributors. 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) 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. "John Pierpont Morgan was an American financier, banker, philanthropist, and art collector . [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. By estimates, there were about 150 lavish estates built during that time, the majority of which have been turned into hotels and residential compounds. 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. We are all related! 1981.2:2 . Charcoal and stumping on wove paper. Get a Britannica Premium subscription and gain access to exclusive content. in Hartford, Connecticut, USA , United States, Died on March 31, 1913 Have you taken a DNA test? Please enable JavaScript in your browser's settings to use this part of Geni. Within a year, the business struggled sufficiently that Joseph Morgan had to bail his son out and dissolve the partnership. John is 18 degrees from Jennifer Aniston, 14 degrees from Drew Barrymore, 15 degrees from Candice Bergen, 16 degrees from Alexandre Dumas, 19 degrees from Carrie Fisher, 27 degrees from Whitney Houston, 15 degrees from Hayley Mills, 16 degrees from Liza Minnelli, 19 degrees from Lisa Presley, 18 degrees from Kiefer Sutherland, 17 degrees from Bill Veeck and 18 degrees from Brian Nash on our single family tree. He started his own private banking company and bought railroads, becoming one of the world's largest steel distributors. junius spencer morgan junius spencer morgan. Junius Spencer Morgan III (1892-1960) Capt. [1], As was typical for aspiring businessmen of the time, Junius did not enroll in college, but was apprenticed to Alfred Welles, a Boston merchant banker, in 1829. As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. 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. Mother Sarah Sally Spencer Morgan. 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. Encyclopaedia Britannica's editors oversee subject areas in which they have extensive knowledge, whether from years of experience gained by working on that content or via study for an advanced degree. Enter a grandparent's name. However, he soon encountered resistance from President Theodore Roosevelt, who sought to leverage the populist tide against the wealthy "robber barons" of Wall Street. Joseph Morgan made a fortune from his holdings. With his son's aid, Morgan grew his banking house into a trans-Atlantic . father: Junius Spencer Morgan mother: Juliet Pierpont children: Anne Morgan, J. P. Morgan Jr., Juliet Pierpont Morgan, Louisa Pierpont Morgan Born Country: United States Bankers American Men Died on: March 31, 1913 place of death: The St. Regis Rome, Rome, Italy U.S. State: Connecticut City: Hartford, Connecticut 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. Death 8 Apr 1890 - Hartford, Hartford, Connecticut, USA. His father, Junius Spencer Morgan, was a businessman of note who had high expectations for his son Pierpoint and started training him at a very early age. Morgan, American family of financiers and philanthropists. After all-night negotiations went nowhere, Morgan ended the stalemate by drawing up a bailout contract and ordering the exhausted presidents to sign. Some of Peabody's own creditors, including rival Barings Bank, demanded immediate payment on their debts. The assets of the House of Morgan fell 40% from $704 million to $425 million. Junius Spencer Morgan, 1813-90, b. He helped to achieve railroad rate stability and discouraged overly chaotic competition in the East. arwiki . [3], Junius's father Joseph was a soldier in the Revolutionary Army and farmer in West Springfield, Massachusetts. He returned to the United States in 1857, and entered the banking-firm of Duncan, Sherman and Co., of New York. Junius Spencer Morgan, 1813-90, b. The executives eventually agreed to terms in what became known as the Corsair Compact. 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. 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. The ship subsequently sank with great loss of life. 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. Deceased persons are not concerned by this provision. The Dowling Family Tree with over half a million relatives, Junius Spencer Morgan (April 14, 1813 April 8, 1890) was an American banker and financier, born at West Springfield (now Holyoke), Massachusetts, USA. 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. You can't pick cherries with your back to the tree. Junius Spencer Morgan. If not, see our friends at Ancestry DNA. 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. [49] Together, they had:[50][51], Morgan poured tremendous effort into his son and heir J. Pierpont. 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. % [5], Soon thereafter, Morgan's father secured him a new partnership at Morris Ketchum's private bank on Wall Street, renamed Morgan Ketchum & Co. In 1907, Morgan again was called to aid the U.S. government in the grips of economic panic. gnalogique Dowling avec plus d'un demi-million de parents, Nous sommes tous He is buried in Cedar Hill Cemetery, Hartford, Connecticut. 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. In 1902, the Justice Department charged Northern Securities with violating the Sherman Antitrust Act of 1890. Morgan & Co., House of Morgan) Born: 1813 Died: 1890 d. after carriage accident Gen. Pierpont Hamilton's Great-Grandfather. 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 Print in the North," May 6 . 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. 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. [43] At the dinner, Morgan stated:[36], "never do anything to cause evil to be spoken of the American name. 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. As a boy he became a dry-goods clerk in Boston; later he entered a brokerage house in New York City. Juliet Pierpont Morgan . [6], In April 1833, Alfred Welles offered Morgan a partnership in his firm; he accepted against his father's wishes. Updates? 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. [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. Biography and associated logos are trademarks of A+E Networksprotected in the US and other countries around the globe. [46], Morgan was, like his son, intensely private. rootsweb: Click Here Drexel allied his bank with Peabody's through Morgan, forming one of the most powerful and important banking alliances in American history. [4] [5] Career. Just do what you can. Quick access. I hire a lawyer to tell me how I can do what I want to do! 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. Husband of Juliet Morgan 1902. We are all related! Login to find your connection. John Pierpont Morgan was born in the spring of 1837 to Junius Spencer Morgan and Juliet Pierpont. All property prices are as stated by the listing agent. Morgan urged Pierpont to withdraw his name from consideration, and he did. [11], Though married in his father-in-law's Unitarian church, Morgan attended his own father's Episcopal church in Hartford. Peabody also forced unfavorable terms on Morgan's lease of the bank's 22 Old Broad Street offices. Capture a web page as it appears now for use as a trusted citation in the future. .css-m6thd4{-webkit-text-decoration:none;text-decoration:none;display:block;margin-top:0;margin-bottom:0;font-family:Gilroy,Helvetica,Arial,Sans-serif;font-size:1.125rem;line-height:1.2;font-weight:bold;color:#323232;text-transform:capitalize;}@media (any-hover: hover){.css-m6thd4:hover{color:link-hover;}}Elon Musk. She married George Hale Morgan on 27 June 1866, in Connecticut, United States. With the retirement of Dabney in 1871, Morgan joined forces with Philadelphia banker Anthony Drexel to found Drexel, Morgan & Co., which took up residence in a towering new building in lower Manhattan. Thanks for your cooperation! (1892 - 1960) Photos: 745. Dowling All Rights Reserved. Sarah Spencer Morgan Morgan 1839 - 1896. His paternal grandparents were Junius Spencer Morgan (1813-1890) [3] and Juliet Pierpont (1816-1884), the daughter of John Pierpont. The would-be assassin, apparently of German . Sarah Spencer Morgan (1893-1949), married Henry B. Gardner (1891-1932) in 1913. << /Length 6 0 R /Filter /FlateDecode >> Geneastars | Facebook. 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 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. Early life. 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 . Junius Spencer Morgan and his family lived on the island for decades. ", 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.