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约翰·皮尔蓬·摩根(John Pierpont Morgan,1837年4月17日—1913年3月31日),美国银行家,亦是一位艺术收藏家。1892年,他撮合了爱迪生通用电力公司(Edison General Electric)与汤姆逊-休士顿电力公司(Thompson Houston Electric)合并成为通用电气公司。在出资成立了联邦钢铁公司(Federal Steel Company)后,他又陆续合并了卡内基钢铁公司(Carnegie Steel Corporation)及几家钢铁公司,并在1901年组成美国钢铁公司(United States Steel Corportation)。
值得一提的是,他于1912年曾订购当时最大的邮轮泰坦尼克号处女航的头等套房,后因故没有上船,逃过一劫(泰坦尼克号于启航后四天撞冰山沉没,造成1500人死亡,史上最著名海难之一)。该房间在行程中一直没有人入住,1997年电影《泰坦尼克号》中,女主角露丝所住的头等套房便是以此为蓝本。
生平
编辑他出生在美国康涅狄格州首府哈特福的一个富有的商人家庭。其父亲是朱尼厄斯·斯潘塞·摩根(Junius Spencer Morgan),母亲是 Juliet Pierpont。1848年,摩根先后入读哈特福公立学校及美国圣公会学院(Cheshire Academy)。1851年他成功通过波士顿英格兰高校(English High School of Boston)的入学考试。该校专门教授年轻人数学以作商业人才。
1852年,摩根患上了严重的疾病,他的风湿热已经发展到了不能走路的地步。父亲将其送至亚速尔群岛做疗养,过了近一年时间他才逐渐恢复,回国后进入波士顿的高等英文学校恢复学业。毕业后被父亲送到瑞士的学习法语,之后又来到德国的哥廷根大学锻炼德语。经过六个月的学习,摩根掌握了基本的德语技能并获得艺术史学位。然后他经由威斯巴登返回伦敦,由此完成了其教育生涯。[1]
1857年,他进入了他父亲所接管的伦敦皮伯第商号的分行。[2]翌年,他远赴纽约市加入邓肯舍曼商号。1860年至1864年期间他又为父亲的纽约皮伯第商号做中间商,1864年后加入达布尼·摩根公司(Dabney,Morgan),1871年他伙同费城的德雷克塞尔(Drexel)组建了纽约的德雷克塞尔·摩根公司。安东尼·j·德雷克塞尔也因此成为了摩根的良师益友。
南北战争开始后不久爆发了卡宾枪事件,市政府以3.5美元的单价出售了5000支劣质的报废卡宾枪,这批枪稍事加工转了一圈之后又以22美元的价格重新卖给了政府,而幕后提供资金的正是摩根。[3]
J.P. Morgan & Company
编辑1893年德雷克塞尔去世,两年后公司更名为J·P·摩根公司,并且同费城的德雷克塞尔公司依旧保持着精密的联系。[4]
从19世纪70年代开始,摩根就致力于掌控铁路行业,通过收购和重组铁路公司他开始逐渐增加自己的控制力,截止到1900年他已经掌握了全美六分之一的铁路系统。[5]
1890年,摩根收购并重组了多家小型的钢铁公司,组成一家名为联邦钢铁(Federal Steel)公司的托拉斯式钢铁企业。随后他又说服了安德鲁·卡耐基,成功收购了后者的卡耐基钢铁公司。1901年,在联邦钢铁和卡耐基钢铁公司的基础上摩根组建了美国钢铁公司,其总资本达到了14亿美元,[6]是当时第一家资产突破十亿美元的公司,在其成立后的第一年,美国钢铁公司生产了全美三分之二的钢铁。[7]
报纸
编辑1896年,查塔努加时报的拥有者阿道夫·奥克斯向摩根寻求财政支持以购买资金困难的纽约时报。奥克斯通过削减价格、加强新闻来源、提高报道质量等一系列手段使得纽约时报成为了行业标准。[8]
国库黄金
编辑由于1893年恐慌的影响,至1895年时美国国库中已经没有多少黄金储备了。Grover Cleveland 总统找到摩根,希望他能在华尔街组织一个辛迪加以向美国国库提供黄金。最终发行了一亿美元的债券,筹措到了六千五百万美元的黄金,这其中有一半来自欧洲。[9] 此举虽然拯救了国库,但是but hurt Cleveland with the agrarian wing of his Democratic party and became an issue in the election of 1896, when banks came under withering attack from William Jennings Bryan. Morgan and Wall Street bankers donated heavily to Republican William McKinley, who was elected in 1896 and reelected in 1900.
1907年恐慌
编辑The Panic of 1907是一场几乎摧毁美国经济的财政危机。纽约的主要银行处在破产的边缘,直到摩根采取个人行动才拯救了它们. Major New York banks were on the verge of bankruptcy and there was no mechanism to rescue them until Morgan stepped in personally and took charge, resolving the crisis.[10][11] 财政部长George B. Cortelyou 拨出三千五百美元平息这场风暴,但苦于没有合适的途径。 $35 million of federal money to quell the storm but had no easy way to use it. 摩根在他位于纽约的豪宅中会见了美国的金融领袖,要他们提供一个计划来解决这次危机。Morgan now took personal charge, meeting with the nation's leading financiers in his New York mansion; he forced them to devise a plan to meet the crisis. 国民城市银行的行长James Stillman, president of the National City Bank, also played a central role也扮演了一个重要的角色. 摩根组织了一队银行与信托基金经理Morgan organized a team of bank and trust executives which redirected money between banks, secured further international lines of credit, and bought plummeting stocks of healthy corporations. A delicate political issue arose regarding the brokerage firm of Moore and Schley, which was deeply involved in a speculative pool in the stock of the Tennessee Coal, Iron and Railroad Company. Moore and Schley had pledged over $6 million of the Tennessee Coal and Iron (TCI) stock for loans among the Wall Street banks. The banks had called the loans, and the firm could not pay. If Moore and Schley should fail, a hundred more failures would follow and then all Wall Street might go to pieces. Morgan decided they had to save Moore and Schley. TCI was one of the chief competitors of U.S. Steel and it owned valuable iron and coal deposits. Morgan controlled U.S. Steel and he decided it had to buy the TCI stock from Moore and Schley. Judge Gary, head of US Steel, agreed, but would there be antitrust implications that could cause grave trouble for US Steel, which was already dominant in the steel industry. Morgan sent Gary to see President Theodore Roosevelt, who promised legal immunity for the deal. U.S. Steel thereupon paid $30 million for the TCI stock and Moore and Schley was saved. The announcement had an immediate effect; by November 7, 1907, the panic was over. Vowing to never let it happen again, and realizing that in a future crisis there was not likely to be another Morgan, banking and political leaders, led by Senator Nelson Aldrich devised a plan that became the Federal Reserve System in 1913.[12] The crisis underscored the need for a powerful mechanism, and Morgan supported the move to create the Federal Reserve System.
Critics
编辑While conservatives in the Progressive Era hailed Morgan for his civic responsibility, his strengthening of the national economy, and his devotion to the arts and religion, the left wing felt threatened by his enormous economic power.[13]
Enemies of banking attacked Morgan for the terms of his loan of gold to the federal government in the 1895 crisis, for his financial resolution of the Panic of 1907, and for bringing on the financial ills of the New York, New Haven and Hartford Railroad. In December 1912, Morgan testified before the Pujo Committee, a subcommittee of the House Banking and Currency committee. The committee ultimately found that a cabal of financial leaders were abusing their public trust to consolidate control over many industries: the partners of J.P. Morgan & Co. along with the directors of First National and National City Bank controlled aggregate resources of $22.245 billion. Louis Brandeis, later a U.S. Supreme Court Justice, compared this sum to the value of all the property in the twenty-two states west of the Mississippi River.[14]
Unsuccessful ventures
编辑Morgan did not always invest well, as failures with energy, subways and shipping demonstrated.
Energy
编辑In 1900, Morgan financed inventor Nikola Tesla and his Wardenclyffe Tower with $150,000 for experiments in transmitting energy. However, in 1903, when the tower structure was near completion, it was still not yet functional due to last-minute design changes that introduced an unintentional defect. When Morgan wanted to know "Where can I put the meter?" Tesla had no answer. By July 1904, Morgan (and the other investors) finally decided they would not provide any additional financing. Morgan also advised other investors to avoid the project.
Subways
编辑Morgan suffered a rare business defeat in 1902 when he attempted to enter the London Underground field. The notorious transit magnate Charles Tyson Yerkes thwarted Morgan's effort to obtain parliamentary authority to build an underground road that would have competed with "Tube" lines controlled by Yerkes. Morgan called Yerkes' coup "the greatest rascality and conspiracy I ever heard of."[15]
Shipping
编辑In 1902, J. P. Morgan & Co. financed the formation of International Mercantile Marine Company, an Atlantic shipping combine which absorbed several major American and British lines. IMM a holding company that controlled subsidiary corporations that had their own operating subsidiaries. Morgan hoped to dominate transatlantic shipping through interlocking directorates and contractual arrangements with the railroads, but that proved impossible because of the unscheduled nature of sea transport, American antitrust legislation, and an agreement with the British government. One of IMM's subsidiaries was the White Star Line, which owned the "RMS Titanic". The ship's famous sinking in 1912, the year before Morgan's death, was a financial disaster for IMM, which was forced to apply for bankruptcy protection in 1915. Analysis of financial records shows that IMM was overleveraged and suffered from inadequate cash flow that caused it to default on bond interest payments. Saved by World War I, IMM eventually reemerged as the United States Lines, which itself went bankrupt in 1986.[16] Morgan lost heavily on the deal.[17]
Morgan corporations
编辑In 1890-1913, 42 major corporations were organized or their securities were underwritten, in whole or part, by J. P. Morgan and Company.[18]
Industrials
编辑- American Bridge Co.
- American Telephone & Telegraph Co.
- Associated Merchants Co.
- Atlas Portland Cement Co.
- Boomer Coal & Coke Co.
- Federal Steel Co.
- General Electric Co.
- Hartford Carpet Corporation
- Inspiration Consolidated Copper Co.
- International Harvester Co.
- International Mercantile Marine
- J. I. Case Threshing Machine Co.
- National Tube Co.
- United Dry Goods Cos.
Railroads
编辑- Atchison, Topeka & Sante Fe
- Atlantic Coast Line
- Central of Georgia R.R. Co.
- Chesapeake & Ohio
- Chicago & Western Indiana R.R. Co.
- Chicago, Burlington & Quincy
- Chicago Great Western
- Chicago, Indianapolis & Louisville R.R. CO.
- Elgin, Joliet & Eastern Ry. Co.
- Erie Railroad System
- Florida East Coast Ry.
- Hocking Valley Ry. System
- Lehigh Valley R.R. Co.
- Louisville & Nashville
- New York Central System
- New York, New Haven & Hartford System
- New York, Ontario & Western R.R. Co.
- Northern Pacific Ry. System
- Pennsylvania
- Pere Marquette R.R. Co.
- Reading
- St. Louis & San Francisco R.R. Co.
- Southern Ry.
- Terminal R.R. Association of St. Louis
Later years
编辑{{cleanup|section|date=November 2010}}
After the death of his father in 1890, Morgan gained control of J. S. Morgan & Co (re-named Morgan, Grenfell & Company in 1910). Morgan began conversations with Charles M. Schwab, president of Carnegie Co., and businessman Andrew Carnegie in 1900 with the intention of buying Carnegie's business and several other steel and iron businesses to consolidate them to create the United States Steel Corporation.[19] Carnegie agreed to sell the business to Morgan for $487 million.[19] The deal was closed without lawyers and without a written contract. News of the industrial consolidation arrived to newspapers in mid-January 1901. U.S. Steel was founded later that year and was the first billion-dollar company in the world with an authorized capitalization of $1.4 billion.[20]
Morgan was the founder of the Metropolitan Club of New York and its president from 1891 to 1900. When his friend, Frank King, whom he had proposed, was black-balled by the Union Club because he had done manual labor in his youth, Morgan resigned from the Union Club, and then organized the Metropolitan Club. He donated the land on 5th Avenue and 60th Street at a cost of $125,000, and commanded Stanford White, "Build me a club fit for gentlemen. Forget the expense." Of course he invited King as a charter member.
Personal life
编辑Morgan was a lifelong member of the Episcopal Church, and by 1890 was one of its most influential leaders. [来源请求]
In 1861, he married Amelia Sturges, a.k.a Mimi (1835–1862). After her death the next year, he married Frances Louisa Tracy, known as Fanny (1842–1924) on May 31, 1865. They had four children:
- John Pierpont Morgan (1867–1943),
- Louisa Pierpont Morgan (1866–1946) who married Herbert L. Satterlee,[21]
- Juliet Pierpont Morgan (1870–1952), and William Pierson Hamilton (1869–1950)
- Anne Morgan (1873–1952).
He often had a tremendous physical effect on people; one man said that a visit from Morgan left him feeling "as if a gale had blown through the house."[22] Morgan was physically large with massive shoulders, piercing eyes and a purple nose, because of a chronic skin disease, rosacea.[23] His deformed nose was due to a disease called rhinophyma, which can result from rosacea. As the deformity worsens, pits, nodules, fissures, lobulations, and pedunculation contort the nose. This condition inspired the crude taunt "Johnny Morgan's nasal organ has a purple hue."[24] Surgeons could have shaved away the rhinophymous growth of sebaceous tissue during Morgan's lifetime, but as a child Morgan suffered from infantile seizures, and it is suspected[谁说的?] that he did not seek surgery for his nose because he feared the seizures would return. His social and professional self-confidence were too well established to be undermined by this affliction. It appeared as if he dared people to meet him squarely and not shrink from the sight, asserting the force of his character over the ugliness of his face.[25] He was known to dislike publicity and hated being photographed; as a result of his self-consciousness of his rosacea, all of his professional portraits were retouched.
Morgan smoked dozens of cigars per day and favored large Havana cigars dubbed Hercules' Clubs by observers.[26]
His house on Madison Avenue was the first electrically lit private residence in New York. His interest in the new technology was a result of his financing Thomas Edison's Edison Electric Illuminating Company in 1878.[27] J. P. Morgan also owned East Island in Glen Cove, NY where he had a large summer house.
An avid yachtsman, Morgan owned several sizable yachts. The well-known quote, "If you have to ask the price, you can't afford it" is commonly attributed to Morgan in response to a question about the cost of maintaining a yacht, but the actual wording of the original statement is a bit obscure.[28]
Morgan was scheduled to travel on the maiden voyage of the RMS Titanic, but canceled at the last minute.[29]White Star Line, Titanic's operator, was part of Morgan's International Mercantile Marine Company, and Morgan was to have his own private suite and promenade deck on the ship.
Morgan died while traveling abroad on March 31, 1913, just shy of his seventy-sixth birthday. He died in his sleep at the Grand Hotel in Rome, Italy. Flags on Wall Street flew at half-staff; the stock market closed for two hours when his body passed through.[30]
At the time of his death, he had an estate worth $68.3 million ($1.39 billion in today's dollars based on CPI, or $25.2 billion based on 'relative share of GDP'), of which about $30 million represented his share in the New York and Philadelphia banks. The value of his art collection was estimated at $50 million.[31]
His remains were interred in the Cedar Hill Cemetery in his birthplace of Hartford, Connecticut. His son, J. P. Morgan, Jr., inherited the banking business.[32]
The Cragston Dependencies, associated with his estate Cragston at Highlands, New York, was listed on the National Register of Historic Places in 1982.[33]
Collector of art, books, and gemstones
编辑Morgan was a notable collector of books, pictures, paintings, clocks and other art objects, many loaned or given to the Metropolitan Museum of Art (of which he was president and was a major force in its establishment), and many housed in his London house and in his private library on 36th Street, near Madison Avenue in New York City. His son, J. P. Morgan, Jr., made the Pierpont Morgan Library a public institution in 1924 as a memorial to his father and kept Belle da Costa Greene, his father's private librarian, as its first director.[34] Morgan was painted by many artists including the Peruvian Carlos Baca-Flor and the Swiss-born American Adolfo Müller-Ury, who also painted a double portrait of Morgan with his favorite grandchild Mabel Satterlee that for some years stood on an easel in the Satterlee mansion but has now disappeared.
Morgan was a benefactor of the American Museum of Natural History, the Metropolitan Museum of Art, Groton School, Harvard University (especially its medical school), Trinity College, the Lying-in Hospital of the City of New York, and the New York trade schools.
Gem collector
编辑By the turn of the century JP Morgan had become one of America's most important collectors of gems and had assembled the most important gem collection in the U.S. as well as of American gemstones (over 1000 pieces). Tiffany & Co. assembled his first collection under their Chief Gemologist George Frederick Kunz. The collection was exhibited at the World's Fair in Paris in 1889. The exhibit won two golden awards and drew the attention of important scholars, lapidaries and the general public.[35]
George Frederick Kunz then continued to build a second, even finer, collection which was exhibited in Paris in 1900. Collections have been donated to the American Museum of Natural History in New York where they were known as the Morgan-Tiffany and the Morgan-Bement collections.[36] In 1911 Kunz named a newly found gem after his biggest customer: morganite.
Photography
编辑Morgan was also a patron to photographer Edward S. Curtis, offering Curtis $75,000 in 1906, for a series on the Native Americans. Curtis eventually published a 20-volume work entitled "The North American Indian."[37] Curtis went on to produce a motion picture In The Land Of The Head Hunters (1914), which was later restored in 1974 and re-released as In The Land Of The War Canoes. Curtis was also famous for a 1911 Magic Lantern slide show The Indian Picture Opera which used his photos and original musical compositions by composer Henry F. Gilbert.[38]
Legacy
编辑His son, J. P. Morgan, Jr. took over the business at his father's death, but was never as influential. As required by the 1933 Glass–Steagall Act, the "House of Morgan" became three entities: J.P. Morgan & Co., which later became Morgan Guaranty Trust; Morgan Stanley, an investment house; and Morgan Grenfell in London, an overseas securities house.
参考资料
编辑- ^ http://www.financial-inspiration.com/JP-Morgan-biography.html
- ^ 华尔街投资银行史--华尔街金融王朝的秘密. 财经书苑 (中文(中国大陆)).
- ^ The Tycoons, By Charles R. Morris, p.337
- ^ Garraty, (1960)
- ^ J.P. Morgan
- ^ History of U. S. Steel
- ^ United States Steel Corporation
- ^ The Ochs family still control the Times. Stephen J. Ostrander, "All the News That's Fit to Print: Adolph Ochs And The 'New York Times'", ;;Timeline 1993 10(1): 38-53
- ^ John Steele Gordon "The Golden Touch," American Heritage
- ^ Carosso, The Morgans pp 528-48
- ^ Robert F. Bruner and Sean D. Carr, eds. The Panic of 1907: Lessons Learned from the Market's Perfect Storm (2007)
- ^ The episode politically embarrassed Roosevelt for years. Garraty, 1960 ch. 11
- ^ Jean Strouse, Morgan: American Financier (1999).
- ^ Brandeis (1995[1914]), ch. 2
- ^ John Franch, Robber Baron: The Life of Charles Tyson Yerkes (2006) p. 298
- ^ John J. Clark, and Margaret T. Clark, "The International Mercantile Marine Company: A Financial Analysis," American Neptune 1997 57(2): 137-154
- ^ Thomas R. Navin, and Marian V. Sears, "A Study In Merger: Formation of the International Mercantile Marine Company," Business History Review 1954 28(4): 291-328
- ^ Meyer Weinberg, ed. America's Economic Heritage (1983) 2: 350
- ^ 19.0 19.1 Krass, Peter. He Did It! (creation of U.S. Steel by J.P. Morgan). Across the Board (Professional Collection). May 2001.
- ^ "J. P. Morgan," Microsoft Encarta Online Encyclopedia 2006. Archived 2009-10-31.
- ^ J. Pierpont Morgan, Satterlee, Herbert L., New York: The Macmillan Company, 1939 (1863–1947)
- ^ John Pierpont Morgan and the American Corporation, Biography of America
- ^ findagrave.com
- ^ Kennedy, David M., and Lizabeth Cohen. The American Pageant. Houghton Mifflin Company: Boston, 2006. p541.
- ^ Strouse, Morgan: American Financier pp 265-66
- ^ Chernow (2001)
- ^ Chernow (2001) Chapter 4
- ^ J.P. Morgan Yacht Quote
- ^ Chernow (2001) Chapter 8
- ^ Modern Marvels episode "The Stock Exchange" originally aired on October 12, 1997
- ^ Chernow (2001) ch 8
- ^ Cedar Hill Cemetery, John Pierpont Morgan
- ^ National Register Information System. National Register of Historic Places. National Park Service. 2009-03-13.
- ^ Auchincloss (1990)
- ^ Morgan and his gem collection, In George Frederick Kunz: Gems and Precious Stones of North America, New York, 1890, accessed online February 20, 2007
- ^ Morgan and his gem collections, donation to AMNH, In George Frederick Kunz: History of Gems Found in North Carolina, Raleigh, 1907, accessed online February 20, 2007
- ^ The North American Indian
- ^ The Indian Picture Opera - A Vanishing Race
- ^ Morganite, International Colored Gemstone Association, accessed online January 22, 2007
参见
编辑[[Category:美國企業家|M]] [[Category:銀行家|M]] [[Category:金融家|M]] [[Category:收藏家|M]] [[Category:英格蘭裔美國人|M]] [[Category:威爾斯裔美國人|M]] [[Category:康乃狄克州人|M]] [[Category:紐約市人|M]]