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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Nov. 5, 1905)
THE OREGON SUNDAY JOURNAL, PORTLAND, CU;,TDAY V QRNING NOVET.ZR The I - it mm a it-PiPX 1 ? TTREMENpOVusponsibilitj .: is J I jtm " settling " upon the shoulders of ,J.K . . - Pierpdnt Morgan, ; K,". joh of one I vf the greatest, financial and railroad kings . the world has ever known. . '. ;; -; ' , Before long he will be called upon -toas- sume the burden of the vast business interests of his father v Having reached the summit of I' financial fame, and with a fortune estimated 1 at from $100,000,000 to$Js6Jpo,000,jhe elder Morgan, it is stated, is about to-retire from his active career. ' f . V'V " In all the world of money no name is -more widely known or more, potent than that' of J.fterpont Morgan. He finances nations c-as. jteadily as railroads; kings as well as bank"; ' presid'ents Seek his counsel; he organizes and!. -r-iffi ff tttM wrfitftt tnittt nf til ttmr tnrtr mn j ' i TT HV irw . VTsT' II ; a irm TTiTw 4 RL nil '"j - fdently than many 'men. would start a shoe store: .. . in : Influential director in more thaH twenty " , . railroads and virtual owner of entire systems; 'dominating some of the most powerful banks and other institution's in the world, practically ' controlling transatlantic -navigation able to 'divert 'panics, orto precipitate the country l ,a into monetary distresssuch is the , position of the, cider "Morgan . to-day-, , Indeed, he is said Xo Iiave an inf.uential voice'in properties aggregating no jess , than $ '6, 000,000 ,000 vdpitalizajion. . :j V; . .' ' . v.. '''V 7' ;1' AH this' vastpcwer, this almost. .over; ; - whelming responsibility, is to be shifted to the' . shoulders 0 Aij ion, now Jfaff 0 tf; 'broad', and so, his friends declare, well capo- ble of assurninfjliejb -i 1 ' i ". '? . . -JU ctbr with Ui4r a : century -Atlas of finance. , . ; , a .. t in tndutrii th . v. -- "; t Oo. ar Interest railroad la practically th penonaj property o M' OST younf men, rcalixlnc what th (nanacement of th. jr(an lotarta and wealth mcana, would ahrtnk fremcueh an undertaking. ..... .. ww uw iouuki .larr uiiuoi ui wm - Orudf ery f 4t ll, "When alraoat Tinllmlted wealth wa .. aJready theirs, an! capable agent might be had to do " ... Perhap young Morgan recognUte It a a duty. kl amblUon to do thing blmaetf, and not to leare then n. lor the hand of nther.-He le-Tiotrcontent wltlr-helng merely the on of (rich man. ' . " , ' '. Pride, too, in th name and fame of hi hous doubt- ' ,i Je adda -Ita Influence. Oret ae they are, theymay be ,.' mad greater atllL . . ,- . , .'. ,'. '. Until recently. J. Ylerpont Morgan. Jr. Jack Morgan, f h i called' by hi friend waa partner In th London ' I, hraneh of hi father' banking hou. Even before -.- 4 mtming the reaponaibllltle of that position, hi training S.vw as thorough a might be for one of his year. In- nl eed. from the day b left Harvard College to th jtwk-A', , e nt time be ha devoted himself t th study of finance. ' m K waa til the New Tork office of J. P. Morgan Co., ' : where the cider Morgan could keep an eve on hire, that S. Plerpont Morgan. Jr.. made his aturt In hankln Ufa. He began, too, tike a,ny other clerk, and" graded up- , ' ward only -when merit permitted, It. S Poealng much natural ability he hart th advan- ' . tag of an environment such a tnll to the lot of few . i young n. and he must have teen very dull. Indeed, ,? ' bad--be not profited.. n r ' ,'. . 'e f DIVIDING RESPONSIBELITIES . ' k, Ihriably methodical In bi work, it wa hla on am- -: Wtlon to nt hlmmlt to step Into lit father's hoe; 80' T-earnest was he that he la mill not to have developed any ' ' of the fiivoUUe or bad habit so common to th . at J rloh men. h " J .v Uruentiy does he need such stability of chraetrifnf ... of Mr. Mor- It ha been stated that. . In aggregate Mr. Morgan ha a vole and hi vole is always Influettlalrn th control of properUei, capitalised at over t6,000.000,to0,"repr . reeentlng banking, transportation and com ofth great est Induatriat comblnAtlon on earth. , , . , ".": ,'. To all this power the son la soon to succeed. If h ; wishes, young Morgan may, in addition to exercising a' domlnattng-rtnduene ever the -vast concern mentioned, become a pot en f factor, it I said, in th affair of the International Harveater Company, th Western Vnlon', Telegraph Company. Pullman Palace Car Company, the General Electric Company. Adam Exprea Company and ' more than one leading life ineuranc concern. Including the New .Tork Uf and th Mutual Life. ' 'Tils railroad connections . would' teem almost endless. They Include th New Tork Central and Lake Shor VyStelnSl.fh Northern Pacific1, th Great Northern, th" Burlington, th Louisville ana Ntshvllle, the Atchison, the Plant System and the Hocking Valley. If he occupies his father's present position fully, he . will be a potent faetor In the affairs of what are called the "coal ronde" of .Pennzylnanla-lh Erie. Ihe., 1 n ainu mm v-cniri ui . ,riMj w. vaat tributary fields of anthracite. the projieruew in wmcn J. v. Morgan are Interested, either tnrcucn control, member-. ship on their boards.-through financing them or acting a nscnl ssents. Include, it IS uiiaersiooo, m American Can Company, ths Northern Ctmpany Kubber Goodr Company, Niagara Falla Power Company, Amalgamated Coprr Company and the Salmon Canning Company. The Arm ha interests la the Pacific Cable Company. '. h Mexican ., Telegraph , Company; the Acsociated Merchant Company. of -Nw ".York: . the ... Metro politan Opera House and " Real Estate Company ai.d Mndiaon Square -Garden. kf. i-Ta Sep Si i-vjf."i T!r""--"". wT3c.-a a director In th North British nd"MrcanUI Insurance Company, on of th leading concern of th kind In that .' country. ' .-...-., y Intimate of th younger Morgan call him "Jack. This fact eemlngly affirm the genial, whole-souled dls- T, poslUon he ia reputed, to posse. In conversation, cap, dally upon business topic, he 1 fllrct and concise, but not unpleasant, - - -T-When he flrst went to London, young Morgan and hU ' family lived . In the elder Morgan' larg hous. at U Prince' Gat, but laUr he moved Into a amaller dwell toL5, S10 fashionable ectlon of the city. ... V The Morgan, however, did not seem to car much for. society. -Jack- preferred to spend hi evenings at home, wer he seemed always glad to entertain a few friends. Fond of sport and outdoor life, he aoon showed that he waa an enthuslastio golfer, and nearly every morn ing could be seen riding torsobsck In Ilyde Park. , Much of hi par tlm h devoted to reading, historical works being hi favorite. While a member of several leading . clubs, he has never been regarded as a clubman, t Undoubtedly, hi homellf 1 happy. : 800a after be ginning his business career, Mr. Morgan married a Mis ; Greer, of Boston.. They havo several sturdy and hand some children,' who are as much the delight of th grand father a the pride of th parent. , ' , It is said that young McMorgaa ba developed om "of the tastes of his father,. For lr.stanc. fc l , con- " nolsaeur In art, and .has mad the beginning' of a lino private gallery of hi own. v . i ; v World famou are th elder Morgan' ojllection of c'- art and eurlna. -Thoaa In f hla 4Atinfw nA Fn.l.nd mrm estimated to be worth in the neighborhood of as.OOOJ)0V New-Tork; the Aetna Fir Insurance company. . were Shor and Ontario Terminal Company. Missouri Railway .Construction Company.and .many smaller concern. i No one outside th flrm. of course, know Jut how far-reaching the' Morgan lnflunc I many of the con cern, although It may safely be set down that, wherever the Morgan Interests lie, they are duly recognised, al though in aome Inatancea th monetary connection may be comparatively nin. - ' . To th Morgan . office come presidents of railroads,, banks and greet corporation to consult the head of. th llrm he Is their oracle. ,,."".--,: : Into this vast field of activity will come J. Plerpont ' Morgan. Jr., wielding more power.'lf he desires, than any other young man of the day, with the possible exception cf one. Vpon succeeding to his fsthcr's millions, John D. Rockefeller, Jr., may - be as Important, if not more iwitnttl tmt there la na other rival In BlahL ' - 1 11.. I OtnHnn. 1. nnnAiava .Kl. 9i withstand th strain imposed by this, burden of wealth and power. 1 1 More than six feet tan, broad shouldered, and with a chest measurement of 4b Inches, he'-i carefully hus banding the physical gifts nsture. has bestowed upon him. Rather small are hi keen gruy eyes, but the refet of his features are Urge. It Is stated that he greatly re sembles his father as tho lattor appeared thirty yeara ago, when.be waa laying the foundation of his present great wealth and Influence. 1 ' For about seven year young Mr. Morgan has resided1 , ;ln London. He ba been connected a a partner wljh th JEngllah. branch of the house and devoted himself to it -: Interests. , . : '.. - ' ' i- Had he desired, there Is little doubt that h might have mingled on the most intimate term with th very cream of British aristocracy. When In Europe hi father. Is In the habit of calling upon emperor and king, and 1 f sometimes entertained ey them. H i on term of par- fibular friendship with, the Emperor of Germany, th Klng of 'Italy, and ha more than a apeaklng acquaint-, . . ance with King Edward. ' . . f - - Going to London, however, to work, and nor to play,, young si'organ spent his tlm In attending to business. ' Every dav he was at his office at I SO In the morning, and rarely left before h In the afternoon. - He Is said to have his father's facility for getting through a great amount - f wnefc esBuJHIausly. i ' ( A all the operation in England were carried on In the name of the Arm, It 1 difficult to ascertain how much of the credit belongs to J. Plerpont Morgsn, Jr. . His friends assert, however, that not a few Important transaction had their Initiative In him, and that he would bav "mad good," even without hi father' In- . fluence. - . . ' . it I evident that young Morgan ha made a favorable : Impression upon English financial circle, for, within a few year after taking up work In London, he was mad ... MANY EARS POSSESSIONS ; ". . Hi Garland collection of ancient Chines porcelain In th Metropolitan Museum of Art. New York, are alono - valued at $1.000,000; , while the Fragonard panel In Lon ; don have an aqua value Uon, A.t a half million dollar - la Valued a collection of etching by Rembrandt and other --famou master; old metaoUnts, prints and' engraving with 7W) book from William Morris' collection, 'ar val ued at three-quarter of. a million dollar. v , ' I" the half-million class, too, are Gutman's collection of old silver. Raphael's ''Madonna of St. Anthony of . Padua." th Maaarin . tapeatry and a collection fit old china.' Nearly a score of other art and curio collection reach over (100.000 eaon la value, . Soma X.th ohlna In th collectloe Is worth $400 a plate. r Some of the finest Gainsborovghs in xtstenc ar In th possession of th eldfr Morgan. ' v - - - Taking hi father" collection a a basis and adding to It, year by year, a he now shows a disposition to do. young Mr. Morgan will in time posses a private gallery of art that will probably be unequaled In th. world. . Inheriting hi father dlslik for notoriety, young Morgan has kept out of th limelight of publtcityWhllo th elder Jfflorgan' nam la seen in th newspapers mora frequently, probably, than any other, man In tb world, except those of President Roosevelt," a - few . European -- monarch and some statesmen of International reputation, th acion df th great financial hous seems perfectly content to plod hi way along In comparative oltcurity. No doubt, he realise th fact that th tlm ia coming when h will be thrust forward Inta publio nolle, when, he must accept all th prominence of on of th world' -'financial king. . - " ". -. "" .: ' Jn th meantime h'ls qult!y performing hi dutU. ) "learning th rope" and preparing himself for hi greet .. place in th futur of th world' enterprise. ' Recitations Under the Trees for Sickly German Youngsters IT) A . 3 hi Inheritance will be greater than that of many croww-)'-prlnnen of kingdoms. , . " c. 1 tm f i.'i mi j o J ?..'.'-; ii "V r,L . .... - Mf vlv V A I f''i 'TnN .....v-::"::V-;"-"v mm1 A&hmi 'A Ira. U J . r sWKi av av 4 f,xs V', .-" "."''. . U -,,-J-,tJ-Vd V AT-. 7 SfojC .jsorr. It la true that. In th futur. sa now. th Autin. u rtspnlblliils of th hoUM of Morgan will undoubtedly ' be divided. In this gtgantto concern thsre ar a number of partner,- but one active brain and on commanding' influence must dominate the whole. . In addition to the American establishment of 'j. P'. Mors-an Co.. with lis branches-abroad, th Mn,. ' gan practlcslly controls ons of the must powerful banks :' on tnin continent, ins national tjnrw ot Commerce, tvow x or a. ia nail streev 11 is anown as .. Morgan's ' xenng from anv aetual Am "n,11- - .w' . . . - Kvery, morning the puplla go out Into tha foreet nd . In other bank trust companies and financial Instl-, . spend a large part of the dy playing under tho tree. tuUon of vsrtoue kinds hi influence predominate, and Not for an infctuntpwwevr, l th plan of Instruction . -. w - - ' J ........ .. - -1- iwi . r ,uu 11 in nn (eu. .. -v, T GE7RMAN educational experiment, undertaken this , year, I being watched with more than ordinary Interest by chool -offlcllj all-over-th world.- In the nlnsi tnrrmt whlrk anrroiinila Berlin a ank . day school has been established for the benefit of cnT)drn e, of of that city who are week and lckly alttaougb Hot suf-. gan's ' fering from any aetual disease. J . . - ZEALOUS, BUT UNLETTERED GEORGE BRIGQ8 could neither read nor write, yet he was of value to th politician of hi town. He . voted regularly, persuaded voters and guaranteod votes, and was rewarded with th position of day police man. v" .i., "' '.'''.' '. - Cotmcll on night passed an ordinance making It a -'misdemeanor to placard with advertisements tb pole ' and fence In th borough. Gecrg Brigg was present, ' and by manner 1 Indicated that this newest ordinance ' would receiv hi particular attention. -Hext roomtng the watchful guardian wa startled to see a young man deliberately engagel in tacking printed matter on pole and fences, Th officer swooped upon th offender, and, without granting an explanation, hauled ; .the prisoner rbe fore th rural Magistrate. - ,. ""Let ma. see oh' of, tho placard, demanded ' tha , Judge, severely. , .' ' , ' ... - ' ' "" ''An act," read his Honor, "making It a misdemeanor ' ' to place or cause to be placed any advertisement, bills, notices, etc., upon ths poles, fences why, man," roared the astonished Magtstrate, addressing the open-moythed . i ofheer "you have arretted a representative of Council ' in the performance of hi duty." . t But Oeorge had a pull, and retained hi job. .. WHY ONE GIRL1 GOT THERB FIRST "A- EMPTT barrel, " observed a well-known ConT greaaman, "win get on into society, out not a quickly a a full on. WhH crossing tha At lantla I heard tt- rnllnwlna storvt ' ' "In a little WVstern city two belle wer batUIng for social supremacy. - Mlas West, by reason of her father' revenue from a brewery, obtained A lead, and -soon took up her abode In Washington.. .-. ' "Miss Jones, however, was not iar behind her rivsl, end a faw months later she, too. because of her father , return from a successful cooperage, wa enabled to shin at'th nation's capital. "V ''" ". . . 1 - "Thoy met at a reception. 'Alice," aald Mis West hbr at voice not without a frosted flavor, 'you ahoyl.l have been her last month. There wer so many nlc people m Washington then. I'm sorry you did not meet . """''go in V pouted Mlts Jone; 1ut. you tnow, V1t-""" dred. ,dear, your father had flrst to sell his beer before papa could get money for his barrels.' " ' - - , ' Gymnsatle ar freely taught, and under ao other con- animal epeclmen. dinner 1 served. dltlon de th Jlttl one ao qulck'y W th hyrenio Through the United States Steel Corners Hon. J. PUr. rnnt Morgan keeps a close rein upon the great Steel In duiry of the country; through the Mercantile Marin Trui his hold upon trsnsstlanllc shipping apparently, I cre, ' . . ........ . Nt only ts h a director of Influence in twenty-eri railroad companies, but tha practical ownership of entire svsteins resit In hi banria. Vor year he ha been build-, i'g up th rViuthern Kitiiway system, until to-dsy It Is pa of th great properties of it kind ,1a America. Thie rll.r! are school houses In the forests, 'and to' these Value of yatmtlo physical xercls. : 1 - Of course, thr lesaona ar taught th school la primsrlly thst of th icily transferred to th forest without. But th ordlnory school hours re h rtened In order to permit greater freedom In romping through tha . woods. ' - - a . - - Two hour and a half a day ar devoted to the lesson actually nsoeseary for paasing th various educational standards and thee ar rigid In Oarmany.- '. Whenever the days -are chilly, or rin inn. ucn m- PREFERRED THE NIGHT: WORK :: - '1 - MWlly' ,l' T-T111 jnrpH AT President Roo.lt undmtaad humn na'ttw.- I , as mbodIed m tr. person 01 an aspiring politician . vegetable. on.".nr.ln a wir to mak. them ean.bl. 'nousekMbwi 1 a Im we! I Ulu.trat.d by an occurrence durtn, hi. la- later on. ,. . eumbncy of the Governor chlr In New York.' - They are allowed to play at housekeeping, to ssrfet In ' An Individual possessed of an easy grace and a . preparing and serving the dinner, and are inftruoted a amooth tongue gained cces to the Governor s office. The the children betake themselves' at Interval's. They deco-v atruotlon la carried on in the school houses. These house ; " win, (KTianns ana nags, sna iney nie away to the plsoauree of a romp in the woods, returning ,now and then for recitations. - 7 , .. As tar as possible, however, the lessons "thet are tanaht are voder th trees, free from the restraint ot surrounding walls and overhanging ceilings. I . - lr.lu ""S tbat ,n " on mey learn in praa . tlcal botany, and aa much mor of animal Ufa - , are light, airy ana attracuva, aa do cornea a parvoi mo general system of outdoor education. . Soon after they arrive In the wood Ihe- city pupil ar sjven breakfast. Each child's meal conalat of a pint of milk and a portion of bread and butter, or a plate of Oatmeal porridge. j After the exercise the dutle of th morning, roam- , lng amid foreet urrouallng and ollsotioa of plaat and to varloua food values After dinner the little ones seek th shady spots snd enjoy a sleets for a time. Their learons are resumed for a time, and 'toward voing th homeward march la taken up. A vast deal of good, botji physically and mentally, ha been accomplished by this outdoor school system. . , -It Is. of course, less practical In winter than In th milder seasons of tho year. Many dcllcat children have been brought hack- to sturdy health through the agency of day spent in th open air and Woodlands, and at th am tlm. bav been able to keep p with their studlea ... - ,-; caller plsoed a consoling hana on tb executive' kno and In duioet tonee said: "Mr. RooveHr4 am with you tn this grand fight : in 4 ha Interest of'tmre aovernment am . righteoue citlsenahlp. I shall work for you day and night to assist In rescuing mis niais inm me oorruptionlate." "I'd; prefer the night work only," suggested th Gov-. rnor. gooa-natureoiv., "Why?" gasped th i "Becus," responded Governor Roosevelt, ' wearily ,v "he who- work for m night only ha a daylight job already." ;,.. . t . - - ' . - v 4., it you ind a i caller, withdrawing hi hand from , 1
