Tuesday, July 14, 2009

J. Pierpont Morgan — Banker, Connoisseur of Art

In his early years, J. Pierpont Morgan (1837-1913), son of Junius S. Morgan, was involved in a broad range of finance. His company, J. P. Morgan & Co., became one of the most powerful banking houses in the world.

Morgan engaged in several dubious pieces of business during the Civil War period, but was essentially an organizer and stabilizing force in business. After the failure of Jay Cooke's firm, Morgan's firm became dominant in government financing and in financing railroads. Among his most daring undertakings was the formation of the US Steel Corp in 1901.

Morgan's personal influence was a decisive factor in overcoming the money panic of 1907. Superb 100 year bond of the New Jersey Junction Railroad dated 1886, nearly four pages of attractive coupons remaining.

This bond is boldly signed at back by J. Pierpont Morgan and H. C. Fahnstock as Trustees. A large impressive vignette of a harbor scene is also at the back. Graphically beautiful both front and back. Includes nice portraits of both Morgan and Fahnstock.

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