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JP Morgan

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JP Morgan
Alex Lewis

John Pierpont Morgan ­J.P. Morgan was born
17 Apr 1837
­John Pierpont (JP) Morgan was born on April 17, 1837 in Hartford, Connecticut to parents
Junius Spencer Morgan and Juliet Pierpont Morgan.
­Morgan was born into a life of luxury, his banker father built JM Beebe, Morgan and Co., the largest dry goods exporter in Boston. ­JP Morgan's entered the banking world
1 Aug 1857
In 1857, after going to college in Europe, JP Morgan returned to the US and he got a job working for the private banking house Duncan, Sherman and Company. ­George Peabody & Company
1 Jan 1860
In 1860 he was appointed as the American agent and attorney for George Peabody &
Company in which his father was a partner. ­Morgan's 1st marriage
1 Jan 1861
In 1861, he married Amelia Sturges, a.k.a. Mimi. She was said to be JP Morgan's only true love, but she died shortly into the married from tuberculosis. ­Morgan's 2nd marriage ­ Frances Louisa Tracy
31 May 1865
­Morgan married Frances Louisa Tracy, known as Fanny on May 31, 1865. They had four children ­Drexel, Morgan and Co.
14 Nov 1871
Morgan’s real breakthrough as an unstoppable financial force came in 1871, when he struck a deal with Anthony Drexel to open Drexel, Morgan and Co. Within the year, the firm had moved to 23 Wall Street, which they had purchased for $1 million, making it the most expensive piece of real estate in the world at that time ­Morgan helped refinance the Civil War debt
1 Jan 1873
1873, two years after the opening of Drexel, Morgan, he underwrote federal bonds worth
$1400 million to help refinance the Civil War debt

­Morgan helped fund the Military.
1 Jan 1877
When Congress adjourned without having adopted a budget to pay for the army, Morgan provided the War Department with $550,000 per month, which was to be disbursed throughout twelve centers around the nation, adding up to a total of about $2.5 million contributed to the army payroll. Electricity

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