JP Morgan

The story begins with JP Morgan’s father, Junius Spencer Morgan 1813-1890.  He joined a dry goods retailer in 1829 and became a Partner. He joined Peabody bank in 1854, became Owner in 1864 and renamed it JS Morgan & Co.

JP Morgan 1837-1913, joined Peabody bank in 1857. In 1864 he joined Dabney, Morgan & Co.  In 1871, he joined Drexel, Morgan & Co. In 1895 he became Owner and renamed it JP Morgan & Co.

JP Morgan secured financing of US railroads and later consolidated them so they would not default on their loans. He helped organize U.S. Steel, General Electric and other major corporations. Morgan bailed out the US government when it ran out of money in 1907. He invented investment banking and enabled the development of electricity, railroads and steel.

Norb Leahy, Dunwoody GA Tea Party Leader