Collier's New Encyclopedia (1921)/Morgan, John Pierpont, Sr.

MORGAN, JOHN PIERPONT, an American capitalist; born in Hartford, Conn., April 17, 1837; was educated at the University of Göttingen, Germany. In 1871 was made a partner of the firm of Drexel, Morgan & Co., afterward J. Pierpont Morgan & Co., and was organizer of large railroad and industrial interests. In 1901 he created the largest financial concern known, the United States Steel Corporation, with a stock

JOHN PIERPONT MORGAN, SR.

capital of $1,100,000,000 and a working capital of $200,000,000. Mr. Morgan has been a large donor to charitable and educational institutions. His gifts include $500,000 to the New York Trade Schools; $1,350,000 to the New York Lying-in Hospital; a collection of ancient Greek ornaments valued at $150,000 to the Metropolitan Museum of Art; the finest mineral collection in the United States valued at $200,000 to the Metropolitan Museum of Art; $100,000 to the Young Men's Association of New York City; $1,000,000 to Harvard College for the Medical School; etc. Died in Rome, 1913.