Morgan, J(ohn) P(ierpont)

Morgan, J(ohn) P(ierpont)
born April 17, 1837, Hartford, Conn., U.S.
died March 31, 1913, Rome, Italy

U.S. financier.

The son of a financier, he began his career as an accountant in 1857 and became an agent for his father's banking company in 1861. In 1871 he was named a partner in the firm of Drexel, Morgan, which became the chief source of U.S. government financing. In 1895 it became J.P. Morgan and Co. In the 1880s and '90s Morgan reorganized several major railroads, notably the Erie Railroad and the Northern Pacific. He was instrumental in achieving railroad rate stability and discouraging overly chaotic competition, and he became one of the world's most powerful railroad magnates, controlling about 5,000 mi (8,000 km) of railway by 1902. After the panic of 1893, Morgan formed a syndicate to supply the U.S. Treasury's depleted gold reserves. He led the financial community in averting a general financial collapse following the stock-market panic of 1907. He financed a series of giant industrial consolidations, organizing the mergers that formed General Electric, United States Steel Corp., and International Harvester Co. (see Navistar International Corp.). A noted art collector, he donated many artworks to the Metropolitan Museum of Art; his book collection and the building that housed it became the Pierpont Morgan Library in New York City.

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Universalium. 2010.

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  • Morgan, J(ohn) P(ierpont), Jr. — born Sept. 7, 1867, Irvington, N.Y., U.S. died March 13, 1943, Boca Grande, Fla. U.S. banker and financier. He joined J.P. Morgan and Co. in 1892 and took control of it in 1913 on the death of his father, J.P. Morgan. In World War I he served as… …   Universalium

  • Morgan, J(ohn) P(ierpont) — (17 abr. 1837, Hartford, Conn., EE.UU.–31 mar. 1913, Roma, Italia). Financista estadounidense. Hijo de financista, inició su carrera profesional como contador en 1857 y se convirtió en agente de la empresa bancaria de su padre en 1861. En 1871… …   Enciclopedia Universal

  • Morgan, J(ohn) P(ierpont), Jr. — (7 sep. 1867, Irvington, N.Y., EE.UU.–13 mar. 1943, Boca Grande, Fla.). Banquero y financista estadounidense. En 1892 se incorporó a J.P. Morgan and Co. y asumió el control de la empresa en 1913 tras la muerte de su padre, J.P. Morgan. Durante la …   Enciclopedia Universal

  • Morgan — Morgan, August Morgan, Charles Morgan, Henry John Morgan, Jacques Jean Marie de Morgan, Lewis Henry * * * (as used in expressions) Forster, E(dward) M(organ) J.P. Morgan Chase & Co. Morgan, Daniel …   Enciclopedia Universal

  • Morgan — Morgan1 [môr′gən] n. [after Justin Morgan (1747 98), New Englander who owned the sire of the breed ] ☆ any of a breed of strong, light riding horse, usually bay, chestnut, or black in color Morgan2 [môr′gən] n. [Welsh, lit., sea dweller (< mor …   English World dictionary

  • Morgan — I. noun Etymology: Justin Morgan died 1798 American teacher Date: 1841 any of an American breed of light strong horses originated in Vermont from the progeny of one prepotent stallion of uncertain ancestry II. biographical name Daniel 1736 1802… …   New Collegiate Dictionary

  • Morgan — /mawr geuhn/, n. one of a breed of light carriage and saddle horses descended from the stallion Justin Morgan. [1865 70; named after the original sire owned by Justin Morgan (1747 98), a New England teacher] /mawr geuhn/, n. 1. Charles Langbridge …   Universalium

  • Morgan — I Mor•gan [[t]ˈmɔr gən[/t]] n. dch any of a breed of light carriage and saddle horses descended from the stallion Justin Morgan • Etymology: 1865–70, amer.; after the original sire, owned by J. Morgan (1747–98) II Mor•gan [[t]ˈmɔr gən[/t]] n. 1)… …   From formal English to slang

  • Pierpont — (as used in expressions) Langley, Samuel (Pierpont) Morgan, J(ohn) P(ierpont) Morgan, J(ohn) P(ierpont), Jr …   Enciclopedia Universal

  • Jr — (as used in expressions) Ailey, Alvin, Jr. Aldrin, Edwin Eugene, Jr. Alger, Horatio, Jr. Ashe, Arthur (Robert), Jr. John Simmons Barth, Jr. Harold George Belafonte, Jr. William H. Bonney, Jr. Bluford, Guion S(tewart), Jr. Brando, Marlon, (Jr.)… …   Enciclopedia Universal

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