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During the Panic of 1837, Morgan traveled the South in an effort to collect the firm's debts, in specie if possible but often in payments of cotton. [8] He continued traveling to collect debts and purchase cotton through the ongoing depression into the 1840s, continuing to grow his reputation as a businessman in Hartford.
Head of a successful London-based merchant-banking firm, Junius Spencer Morgan (1813–1890) took a strong hand in directing his son Pierpont’s early career on Wall Street. Junius was also an avid collector of books and manuscripts.
Head of a successful London-based merchant-banking firm, Junius Spencer Morgan (1813–1890) took a strong hand in directing his son Pierpont’s early career on Wall Street. Junius was also an avid collector of books and manuscripts.
Mar 22, 2023 · Some people have suggested that the death of his father, Junius Spencer Morgan, in 1890 inspired this collecting boom since the resulting inheritance gave the younger Morgan enough wealth to purchase pretty much any artwork he could possibly have wanted.
- Alexandra Kiely
May 23, 2018 · Morgan entered the business world as an apprentice merchant at the age of 16 before going to New York to learn banking. He then became a partner in various mercantile firms. A trip to Europe in 1853 decisively altered Morgan's business career and life.
Nov 9, 2009 · One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations.
He entered business in Connecticut, operating a tavern, coffee house, and stagecoach line, and was a founding partner in the Aetna Fire Insurance Company in 1819. He made a fortune with Aetna in 1835, when Aetna covered Wall Street firms destroyed in the Great Fire of New York.
