General Notes

John Pierpont Morgan, known as J. P. Morgan, b.  Hartford, Conn., Apr.  17,
1837, d.  Mar. 31, 1913, the son of Junius, was a major figure in
international finance before World War I.  An agent for his father in New
York, he formed (1871) the banking house of Drexel, Morgan, & Co., which 24
years later was renamed J. P. Morgan & Co.  After the crash of 1893, Morgan
was active in railroads, reorganizing several lines in the eastern United
States.  He also marketed U.S. government securities on a massive scale.  In
1898 he entered the field of industrial consolidation, forming the Federal
Steel Company and (1901) the United States Steel Corp.  The latter firm
included the Carnegie steel interests, which were purchased for $400 million.
Morgan had wide-ranging influence over many of the companies that he financed,
an influence that was, however, probably exaggerated in public opinion.  A
great art collector, he gave many works to the Metropolitan Museum of Art in
New York City.  His collection of manuscripts and books is housed in the
MORGAN LIBRARY in New York City.