J. P. Morgan

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John Pierpont Morganís (April 17, 1837 Ė March 31, 1913) company, J. P. Morgan & Company became one of the most powerful banking houses in the world. After the failure of Jay Cookeís firm, Morganís firm became dominant in government financing and in financing railroads. Among his most daring undertakings was the formation of the United States Steel Corporation. in 1901. His less successful activities were that of the International Mercantile Marine and his struggle for control of the Union Pacific. Morganís personal influence was a decisive factor in overcoming the money panic of 1907.

Drexel Morgan was a partnership between Morgan and A. J. Drexel of Drexel & Company. At the time, their partnership resulted in one of the largest banking companies in the world. Later, the firm merged with Burnham & Company, and was renamed Drexel Burnham.


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