John Pierpont Morgan was born on April 17, 1837 in Hartford, Connecticut. The family prospered in Hartford until Junius moved the family to Boston where Morgan began Boston English High. In 1857, Junius Morgan decided to broaden his son's experience by sending him to New York. The firm of Duncan, Sherman & Co. was the American representation of the George Peabody Company. In less than three years Morgan went from clerk to cashier in the company. In 1860 Morgan left Duncan, Sherman and founded J. P. Morgan and Company to act as an agent for his father's business. In 1864 Morgan joined up with another former businessman of Duncan, Sherman & Company, Charles Dabney. Charles Dabney and Morgan started their own company named Dabney, Morgan & C

Morgan went on to help create the Federal Steel Company, the National Tube Company and the American Bridge Company. One of Morgan's most famous business deals was the formation of the United States Steel Corporation in 1901. Morgan collaborated with Elbert Gary and John Gates to consolidate different steel companies to form a "supercombination." The U.S Steel Corporation was organized and acquired the outstanding bonds and stocks of the Carnegie Company. The company also bought the preferred stocks of Federal Steel, National Steel, National Tube, American Steel & Wire, American Tin Plate, American Steel Hoop, American Sheet Steel, Lake Superior Consolidated Iron Mines and American Bridge Company. Morgan agreed to reorganize the situation and the two companies Deering Harvester and McCormick Harvesting Machine were merged with three other small companies to create the International Harvester Company. A Boston firm primarily financed the American Telephone and Telegraph Company when they faced a consortium of New York bankers in 1902. The New Yorkers, led by J.P Morgan, brought back Theodore Vail as head of the company and funded the company with one hundred million dollars to reorganize the company on a national scale. After 1906, the company was revived and a commanding force it was also principally backed by the house of Morgan.

o. Morgan's business continued to grow as he intensively involves his company in more trade and commerce transactions. In 1871 Dabney retired and Anthony J. Drexel became Morgan's new senior partner. Drexel was already the head of the Philadelphia investment bank Drexel & and Company. The new company Drexel Morgan & Co. became one of the largest and most successful companies on Wall Street. When Junius Morgan died in 1890, J.P. became head of the London house. Anthony Drexel also died in 1893, and Morgan reorganized the Morgan and Drexel firms two years later. The New York based Drexel Morgan became J. P Morgan & Co. Morgan was an imposing figure on Wall Street and in the financing world but was virtually unknown to many until 1869. That year a war over railroads began including Jay Gould and Jim Fisk, both famous financiers. Gould already had dominant control over the Erie railroad and began to buy up stock in the Albany &

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Approximate Pages = 6 (250 words per page double spaced)