John Pierpont Morgan I. (John Pierpont Morgan I) – American financier and industrial organizer, one of the most famous financial figures of the two decades before World War I. He organized several of the most important railways and merged the United States Steel, International Harvester and General Electric. Son of a famous financier, Junius Spencer Morgan (1813-90), John Pierpont was born 17 April 1837 G. Hartford, Connecticut, USA educated at Boston and the University of Göttingen. He started his career in 1857 year as an accountant at the New York banking firm Duncan, Sherman and Co ”, who was the American representative of the London firm "George Peabody & Co". IN 1861 Morgan became an agent for his father's banking company in New York. During the period 1864-71 years he was a member of the firm "Dabney, Morgan and Co. ”and c 1871 year he became a partner of the New York firm Drexel, Morgan and Co. ”, which soon became the dominant source of funding for the US government. This firm was reorganized as J.. P. Morgan and Co. 1895, And, largely due to Morgan's abilities, it has become one of the most powerful banking houses in the world.
Thanks to his connections with the Peabody firm, Morgan had close and very useful connections with the London financial world, and in the 1870s he was among those, who contributed to the rapid growth of industrial corporations in the United States by attracting capital from British bankers. He began to reorganize the railways in 1885 year, when he established an agreement between the two largest railways in the country, New York Central Railroad and Pennsylvania Railroad, which minimized the potentially destructive tariff war and competition between the two lines.
IN 1886 year he reorganized two of the most important railways in order to stabilize their financial condition. In the process of this corporate restructuring, Morgan became a member of the board of directors of these and other railways, thanks to which he began to have a great influence on them. Между 1885 And 1888 he expanded his influence to lines, located in Pennsylvania and Ohio, and after the financial panic 1893 of the year he was invited to rehabilitate a large number of the leading railway lines in the country, including the Southern Railway, Erie Railroad and Northsern Pacific. He helped railways stabilize tariffs and end chaotic competition in the East.. By gaining control over the majority of railroad shares, which he reorganized, he became one of the most influential railroad tycoons, controlling about 5 thousand miles (8 thousand. km) American Railways to 1902 year.
In times of depression, which followed the panic 1893 of the year, Morgan formed a syndicate, which replenished the depleted gold reserve of the US government by contributing 62 billion. dollars in gold for, to overcome the crisis of the Ministry of Finance. Three years later, he started funding a series of huge industrial associations, which were reformed into corporate structures of the American manufacturing sector. His first joint venture, in 1891 year, was associated with the merger of General Electric Edison and Thomson-Houston Electric in the form of General Electric, which became the dominant electrical equipment company in the United States. Financing in 1898 year of the Federal Steel Company, Morgan c 1901 year participated in its merger with the huge Carnegie Steel Company and other steel companies in the United States Steel Corporation, which was the world's first billion dollar corporation. IN 1902 Morgan joined several companies, leading in the production of agricultural equipment, to the company "International Harvester". In the same year, he organized, с менее успешным результатом, "International Merchant Marine", connection of several of the most important transatlantic shipping lines.
Morgan was one of the largest book and art collectors of his day., and he donated many works of art to the Metropolitan Museum of Art in New York. He donated funds to museums, cathedrals, churches and hospitals. His book collection and building in New York, in which it was stored ("Pierpont Morgan Library"), became c 1924 the public library.
