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J.P. Morgan

J.P. Morgan was born on April 13, 1837 in Hartford Conneticuit. His parents were Juniet Spencer Morgan and
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 * J.P. Morgan ||

Juliet (Pierpont) Morgan. He was boen into a decent family, as he went to English school in Boston, and he went to the University of Gottingen in Germany. Morgan then trained as an accountant at the New York firm of Duncan, Sherman, and company, and in 1867 he transferred to his father's banking company. After ten years, he became a partner in Drexel, Morgan, and Company, which was reorganized in 1895 as J.P. Morgan and Company, which he eventually headed. Morgan was a captain of industry, as he invested in the growth of railroads and life changing projects.

Morgan's sucess in banking started when he began to reorganize railroads. He reorganized the Baltimore, Chesapeke, and Erie lines. In 1869, he gained control of the Albany and Susquehanna Railroad from Jay Gould and Jim Fisk. Also, he financed International Harvester and General Electric, two companies that are still very popular today. In 1901, Morgan was a large part of the creation of U.S. Steel, the largest enterprise in the world at the time. He built the largest private bank in the U.S. His banking experience led to the creation of the Federal Reserve System in 1913, the same year he died. Before he died, he focused on gaining control of various bankink companies. Morgan died in Rome, Italy on March 31, 1913.

__**Sources**__

“J.P. Morgan” www.coe.uh.edu (2/20/08) eNotes.com ” J.P. Morgan Biography” www.enotes.com (2/20/08) Financial Inspiration Café “ JP Morgan biography  The most influential banker in history ”www.financial-inspiration.com (2/20/08) Spartacus Educational “John Pierpont Morgan” www.spartacus.schoolnet.co.uk (2/20/08)